A project organized by FOM as part of the University-wide Entrepreneurship Initiative
Update:
1. Dates for First & Second Progress Presentation dates changed.
2. Date added for Submission and for Product/ Service Showcase.
Objective:
To develop students’ thinking and reasoning abilities by involving them with the ideation process which concentrates on the process of generating, developing and communicating innovative ideas that will be proposed as a practical and commercial creative problem solution through the entrepreneurship framework at the academic programme level.
Participant:
- Open to MMU Undergraduate and Diploma students who have great ideas or who have developed physical prototypes/services.
- Teams can be of any reasonable size to give a breadth of expertise in technical and business related matters.
- Team members must be represented by not only FOM students but also student/s from the other faculties who may contribute to the idea, talent or skills in the development of the proposed product or service.
- Each team must be supervised by a Mentor who must be a FOM academic staff.
THINK (1st ROUND): Idea proposal
- Registration from 22 July – 14 August 2017 (Please go to the link provided below)
- Submission of idea proposal by 21 August 2017
- Presentation of idea proposal date is 5 September 2017
- Best five (5) teams will be selected and proceed to Round 2
- All participants will be given certificates of participation
- Best 5 teams will receive prizes worth RM50 each
- The idea proposal will be evaluated by a group of expert panelists. The standard evaluation criteria are:
- Define what is the problem that is intended to be tackled and from which area of interest does the problem originate from (e.g. telecommunication, automotive, foods and beverages etc).
- Generate as many possible ideas/solutions to the defined problem.
- Decide which is the most effective idea/solution.
PITCH AND WIN (2nd ROUND): Business Plan
- The five (5) finalists must prepare their team's Business Plan following the Business Canvas Model format
Please refer to: https://canvanizer.com/ for further information
- Each team will be allocated up to a maximum of RM 200 to cover cost incurred during the preparation of the Business Plan
- Pitching:
- The finalists will present their Business Plan to a panel of judges.
- Date of pitching is 2 October 2017
- Prizes worth: First: RM 500; Second: RM 300; other 3 teams will receive RM 150 each
- All participants will be given certificates of participation
- The first place winner will proceed to the 3rd Round
- Product development:
- The winner will develop the proposed prototype of product/service.
- A maximum of RM 1,500 will be allocated to fund expenditures arise in developing the prototype of the
product/service.
- Progress monitoring:
The team will present their progress on the prototype of product/service development on the following dates:
16 October 2017 and 3 November 2017
- Prototype of product/service submission:
10 November 2017
3rd ROUND: Showcase of prototype of product/service
- The team will showcase their prototype of product/service
- Date : 15 November 2017
Mentor's roles:
- Guide the team
- Be present in every presentation
- Submit progress monitoring report on 31 Oct 2017 and 23 Nov 2017 to Mr Muhammad Nizam Zainuddin
- The mentor must prepare the account statement at the end of the project (Account template will be provided) and submit to Mdm Zarehan Selamat.