UCSI University students win first runner-up at MSC Malaysia Business Competition
UCSI University students recently bagged the first runner-up placing at the MSC
Malaysia – Institution of Higher Learning (IHL) Business Plan Competition (MIBPC), an annual competition that seeks to nurture a new generation of technology entrepreneurs.
Secretary General of the Ministry of Education Datuk Ab. Rahim Md. Noor, who awarded the winning teams during the recent prize giving ceremony, said: “The MSC Malaysia IHL Business Plan Competition is one of a kind competition aimed at producing digital entrepreneurs amongst students and graduates, providing them with the necessary skills, resources and opportunities to realise their entrepreneurial inclination and potential”.
A total of 35 business ideas and 27 business plans were submitted for the pre-
qualifications round from 19 IHLs across the country, he said. Judging was carried out by industry experts, and among the criteria were product/service/technology description and commercial viability, idea innovativeness, market, sales competition, opportunity and risks, financials, prototype demonstration and overall presentation.
The MIBPC is an annual programme jointly organised by the Multimedia Development Corporation (MDeC), the Ministry of Education and the IHLs in Malaysia, aimed at providing a national platform for the convergence of skills development focusing on innovative thinking, problem solving and entrepreneurship.
Held at Le Meridien Hotel, Kuala Lumpur, the ‘Big Passion’ team– comprising students Lim Wai Hing, Chew Pei Xin and
Jasmine Lum Chi Man– competed in the ‘Business Idea’ category and soundly trounced 35 competitors from other IHLs, walking away with RM5,000 in cash.
Lim and Chew are currently reading the BA (Hons) Business Administration programme while Lum is pursuing the BA (Hons) Marketing programme at the University.
In this category, participating teams were required to submit a formal business plan, a video pitch and conduct a formal presentation to a panel of judges.
“It is indeed a privilege for us to be able to experience entrepreneurial-level competition,” said Lum. “Getting 1st runner-up at this national competition is certainly a great reward for our diligence, perseverance and hard work.”
Under the supervision of their team advisor Ms Eva Lim –a lecturer with the University’s Faculty of Business and Information Science (FoBIS), ‘Big Passion’ developed a keychain locator device that helps users locate their keys up to 50 metres away.
“This has been a great learning experience for them and I’m really proud of their achievement,” enthused Ms Eva Lim. “They’ve put in a lot of effort and I’m glad they’re able to reap the fruits of their labour.”
Big Passion came up with the idea because each team member had problems locating their own car keys or house keys when rushing for time.
“We wanted to create a device where we could locate our keys simply by emitting a signal from our phone,” Lum explained on behalf of the team.
“For this project, we incorporated a hybrid system into the keychain locator – combining a rechargeable battery system and a kinetic energy system – to prolong the key chain’s battery life.”
“Another unique feature is the USB flash drive function. Both features are not yet available in the market,” she elaborated, firm in her belief that the team would be able to get first-mover advantage.
The project began as part of the University’s very own Business Plan Competition that ended in March earlier this year. Organised by FoBIS, the competition served as a pre-cursor to the national competition, encompassing a series of business workshops and competitions to promote entrepreneurship among the University’s students and staff.
As first runner-up in the national competition, the team may receive further assistance from MSC Malaysia to commercialise their idea and validate their business model
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Posted on June 20, 2013, in Business, Choosing the right course, UCSI University and tagged Malaysia – Institution of Higher Learning (IHL) Business Plan Competition (MIBPC), MIBPC, MSC Malaysia – Institution of Higher Learning (IHL) Business Plan Competition, MSC Malaysia Business competition, ucsi university, UCSI University Business course. Bookmark the permalink. Leave a comment.