CENTIN/Futurizm has successfully conducted the highly anticipated “Business Innovation Challenge 2023-1”, in collaboration with SEN, UMT, on May 23, 2023. The venue for the event was1C-17, the central building of UMT, main campus, Lahore.
The primary objective of the challenge was to foster entrepreneurship and inspire students to embark on their entrepreneurial journeys. A total of 16 exceptional business concepts presented their business ideas/plans in this prestigious event. Furthermore, relevant industry experts/ entrepreneurs were invited to serve as jury members, responsible for evaluating the participants’ business pitches.
The competition was initiated with the recitation of verses from the Holy Quran.Each team was given a limited time of 5 minutes to present their business plan. Each presentation was followed by a question-and-answer session by the judges, to assess the feasibility and potential of the presented business plans.The results were compiled based on the evaluation criteria which included problem statement/assessment, proposed solution with practicality, market viability, innovation/competitive edge, competitor analysis, scalability/scope and financials.
1st Position – “Eat-Pay”, founded by Mr. Muhammad Sohaib Razzaq & Mr. Zeeshan Shaukat.
2nd Position – “Cattle Health Monitoring System” founded by Ahsan Rauf and M Fazeel Athar.
3rd Position – “Vehicle Tracking System” founded by M Ahmad Touheed, Syeda Muskan Zainab, and Hanzla Javaid.
Each winning team was awarded certificates and free incubation at Futurizm, UMT.In recognition of the valuable contribution of the jury members, souvenirs were presented as a token of appreciation.