The Youth Voice

BY: NURUL 'AIN

Have an ingenious money-spinning idea that can rake in stupendous profits, but simply do not know where to begin?


Fret not because the annual Temasek Polytechnic (TP) initiative the Final5 Entrepreneurship Competition is back and you may even land the top prize of $600 cash.




In an email reply to The Youth Voice, the TP Entrepreneurship Centre said the competition promotes the students' zeal for entrepreneurship and provides them with a platform to showcase their business ideas.

"They learn the techniques of making a business proposal and are able to determine what the market wants and the type of consumers they target to make the business viable and sustainable," the Centre said.

In Final5, students are to submit a full-fledged business plan comprising of an executive summary, types of products and services to be offered, marketing plan, operational details, manpower delegation and budgeting.

According to the Centre, it must be as real and practical as possible, besides describing the market demand for the product/service and having a good grasp of its financial details such as revenue sources and cash flow.

Students need to identify their enterprise's unique selling point (USP) and innovation, to provide that competitive edge, elaborated the Centre.

"It is good for your CV and enhances your knowledge. It is an opportunity to articulate your business idea and present in front of a panel," added the Centre.

The significance of the Final5 competition is that, really living up to its name, only five students or teams will qualify for the sponsored prizes eventually.

The final five competitors will present to a panel of judges who will evaluate their positions. The first prize is $600 cash, the second is $500, the third is $400 and two merit prizes of $200 each will be given out in this competition.

To date, more than 100 students have participated in the Final5 competition and at least $5,000 have been given out to winners since its inception in 2005.

To participate, mail your entries to the TP Entrepreneurship Centre, Blk 13, #03-81 or email to entrepreneurship@tp.edu.sg. Closing date is February 14. For more information, call 6780-5099 / 5698.