Entrepreneurs’ Society Launches the Business Plan Competition

By: Nada Shaker
@NadaShaker

Entrepreneurs’ Society (ES), a student led organization, seeking creative business ideas and creating actual product or service, has opened sign-ups to launch their infamous business plan competition that will take place next month at The American University in Cairo (AUC).

Both AUC students and non-AUC students will have an opportunity to participate in this competition. The participants will ameliorate and launch the start up during the month of the competition.

Dalia Kamar, Junior Business Marketing and Chief Executive Officer (CEO) of Entrepreneurs’ Society told The Caravan, “this year the competition is different from last year, as the entrepreneurs will begin to launch their business from day one, so you either have an idea or we will help you to come up with one, and you do not have to have a team from the beginning.”

Students will engage in an entrepreneurship ecosystem, which is a risk-free system for innovative entrepreneurs. They will go through six informative sessions, each one has different topic and some of them will have a professional guest speaker.

Mohamed Abou Hussien, graduating senior Economics, told The Caravan the main reason behind participating in this competition in specific. “In this competition you are not writing a business plan only, however you can take a step further and implement and establish it on ground.” Also, he said that the prize provided is very motivating and it is considered a good seed capital to establish a start up.

The winner of this competition will be receiving 50,000 EGP to develop the business previously established.

Ahmed Kamaly, Economics Professor at AUC,  shared his opinion with The Caravan about the competition. He thinks that this competition includes the most important phase of any start up which is the implementation of the idea. The thing that makes this competition special is that it is not only about writing an idea in a well organized paper and present it.

A jamboree will take place at the end of the competition to give the participants the chance to introduce their products or services along with other entrepreneurs.  Finally comes the Gala night which is the closing event for this competition, it will be at the 8th of April to feature the top three winners.

One of the top three winners in last year’s competition was “Nino’s Bakery” which sells cupcakes and is now successful and demanded from people.

Entrepreneur Society has a main focus which is spreading entrepreneur knowledge and spirit inside and outside the campus. They are willing to inspire students to build their own business and to be innovative as much as they can and to be entrepreneurs in everything they are doing.