LIBA launches business plan competition

Updated on: Saturday, September 18, 2010

Loyola Institute of Business Administration (LIBA), in association with Entrepreneurship Development Institute of India (EDI), Government of Tamil Nadu and The Indus Entrepreneurs (TiE), has launched the third edition of the pan India Business Plan Competition-Espire 2010. The business plan competition is an annual event in search for the young entrepreneur with the best idea. The competition was inaugurated by Lakshmi Narayanan who is the Vice-Chairman of Cognizant Technologies.

On his inauguration address Lakshmi Narayanan said, “Almost 50 – 75% of the country’s GDP is contributed by the Micro, Small and Medium Enterprises (MSME) sector, which also generates almost 60 – 70% of employment. It is therefore, extremely important for young minds to come up with new ideas and not stop at that, but execute them into successful businesses.”

There will be three tracks in the competition-Students, General Public and Social Innovation. The competition will be evaluated in four stages- Stage One is evaluation of the Executive Summary, Stage Two is evaluation of Business Plan, Stage Three is evaluation during the Mock Investment Round and Stage Four, the final, is the presentation in front of a panel of eminent Jury. For each of the stages, the organizers have planned specific inputs and interventions so that the participants are able to conceive and present a winning plan.

The jury for the final round comprises renowned Academicians, Entrepreneurs and Venture Capitalists. The 1st prize is a cash prize of Rs. 1 lakh and courses at LIBA worth Rs. 3 lakhs. The runner-up gets a cash prize of Rs. 50, 000.

Speaking on the occasion Father P. Christie, Director, LIBA said, “This is one of the major events conducted by LIBA. We take up this huge project to provide a platform for young talent, energetic and innovative minds to come and showcase their thoughts. I believe that we may have got independence in 1947. But our true freedom will come from entrepreneurs who alone can generate employment opportunities to millions of Indians. If we have to win back our position of being No. 1 among the comity of nations, we have to do everything to spur entrepreneurship.”

LIBA launches business plan competition

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