Futurizm has successfully organized the highly anticipated "Business Innovation Challenge 2023-II" in collaboration with SAP and UMT at 1C-17, the central building of UMT's main campus in Lahore. The primary objective of the challenge was to promote entrepreneurship and inspire students to embark on their entrepreneurial journeys. A total of 8 outstanding business concepts were presented in this esteemed event. The Acting Dean SAP, UMT, Dr. Fariha Tariq & Mr. Muhammad Yasir Amjad (Director, CENTIN, UMT) were present, to evaluate the participants' business pitches.
The competition commenced with a respectful recitation of verses from the Holy Quran. Each team was given a limited time of 5 minutes to present their plan. Following each presentation, the judges conducted a question-and-answer session to assess the feasibility and potential of the presented plans. The evaluation process considered various criteria, including problem statement/assessment, proposed solution with practicality, market viability, innovation/competitive edge, competitor analysis, scalability/scope, and financials.
The winning teams:
1st Position: "Pedal Rental Services," founded by Khurram Saleem, Asfand Yar Altaf, and Hamza Imtiaz.
2nd Position: "R Cube," founded by Muhammad Usman, Haleema Shahid, and Ahmad Ashfaq.
3rd Position: "Bin City," founded by Mesum Raza, Abdul Rauf Riaz, and Sidra Tul Muntaha.
Each winning team received certificates and complimentary incubation at Futurizm, UMT.
We would like to express our sincere gratitude and deep appreciation to Dr. Fariha Tariq, Acting Dean of the School of Architecture and Planning, and Ms. Sarosh Tariq, Research Associate at UMT, for their invaluable efforts and unwavering support. Their contributions played a pivotal role in ensuring the resounding success of this event. We also extend heartfelt congratulations to all the participants, particularly the winning teams, and convey our best wishes for their future endeavors.
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