UOWD student reaches the Big Idea Business Start-up Challenge Finale
Thursday, 11 November, 2010
Krish Kumar, an undergraduate student at UOWD reached the finale of the Big Idea Business Start-up Challenge www.bigidea.ae. Several UAE universities including UOWD, HULT International Business School, BITS Pilani, Heriot-Watt, Murdoch, University of Waterloo, Skyline, Institute of Management Technology, SP Jain Centre of Management and Manipal Dubai participated in the business plan competition open to all university students in the UAE. Krish who is a B.Com Marketing student at UOWD speaks about his experience: Participating in the Big Idea Business Start-up Challenge was a great learning experience and it made me aware of all the legalities and the hardships of entrepreneurship. I learned about business planning and business research as we had to come up with an innovative business idea. It was a fantastic feeling to be chosen as one of the top five from among the 60 other contestants from all over the UAE. Presenting before the highly qualified panel of judges was totally challenging. All my competitors were postgraduates, and standing next to them and competing head-on felt grand. I would like to thank Dr Swapna Koshy for her guidelines, which helped me to compete with confidence and also to Ms. Sora Tacio for all the support. Krishs winning Big Idea - AutoScrap.com - proposes to make efficient use of scrap auto parts. The vision of the e-business is to link the auto industry and scrap dealers through the internet. My proposed business plan AutoScrap.com is an online portal rich in information and catering to the scrap and automobile industries. It provides three kinds of auto parts: scrap, genuine parts from dealers and third party manufactured parts. Scrap parts are often in mint condition and are available for as low as a quarter of the original price. Big Idea has partnered with Tandem Partners to set up an Incubation Lab where the shortlisted ideas will be mentored, guided & simulated to make it robust and financially viable before being presented to industry specific Venture Capitalists. The event was sponsored by Cool 94.7 FM & partnered by Alcatel Mobile, G-Hanz Germany, Cowon-Digital Pride, Casio, Dubai Dolphinarium, iFLY Dubai, Bombay Chowpatty, EMDI and MCS Printing Solutions.