Kinnaird College stood first while Iqra Millennium University secured second position and the Lums won third position in the "LCCI Business Plan Competition" held here on Thursday under the auspices of LCCI Standing Committee on Young Entrepreneurs at Lahore Chamber of Commerce and Industry.
The idea behind the competition was to encourage the young graduates so that they could start their own businesses in a new and innovative manner. The Kinnaird College presented the business plan of "Gem Stones" and Iqra Millennium University came up with the idea of "Chicken paws," while the Lums students' business plan was "Ethnically Designed Chandeliers."
As many as 17 groups of seven prominent universities and colleges of the provincial metropolis including Punjab College of Business Administration, Pak-Aims, Lahore University of Management Sciences, Imperial College of Business Studies, Kinnaird College, Iqra University, Fast and Steps Institute took part in the competition which continued for three days.
The projects assigned to the participating groups included: salt lamps, bed sheets and polyester filled bed spreads, Swati furniture, ethnically designed chandeliers, gem stones potential in Pakistan, Lassi packed in Tetra Pack, export potential for organic food products and Chikhs (traditional oriental curtain).
LCCI President Shahid Hassan Sheikh presided over the competition on the first day, while LCCI Senior Vice President Yaqoob Tahir Izhar and Vice President Mubasher Sheikh chaired the second and third day functions.
Former LCCI president Mian Misbaher Rehman presented the award and cash prizes to the winning teams. Standing Committee on Young Entrepreneurs Chairman Faisal Iqbal Sheikh also spoke on the occasion and urged the students to prepare themselves for fast emerging global challenges.
The competition, which was largely attended by students and businessmen belonging to various faculties and institutions, would also help them to interact with premier bodies of the business community like LCCI.
The cash prize to the winner team of Kinnaird College was given by Rawal Industrial Works Chief Executive Syed Muhammad Umair, while the second and third prizes were sponsored by Izhar Group of Companies and Leather Age.