Small and Medium Enterprises Development Authority (Smeda), in collaboration with Sarhad University, organised first Inter-Universities Business Plan Competition at Entrepreneurship Development Centre (EDC). The award distribution ceremony of the competition was held at the Governor's House here on Wednesday.
Speaking on the occasion, NWFP Governor Owais Ahmed Ghani appreciated the efforts of Smeda and Sarhad University in establishing the Entrepreneurship Development Centre and organising the competition of the Inter-Universities Business Plans.
In his welcome address, provincial chief of Smeda Javed Iqbal Khattak gave a detailed presentation on the role of the Enterpreneurship Development Centre and activities initiated so far. He stressed the need for initiating business plan competitions, and highlighted the importance of business plan.
He said that good business plans laid foundation of success of any business initiative. EDC Director Professor Tahir Kiani explained the activities of the centre, and also briefed the participants about the future initiatives to be taken at the EDC forum.
The panel of judges, comprising President of Industrialists Association, Peshawar (IAP) Nauman Wazir, Dr Mohsin of Joint Directorate Institute of Management Sciences, Chief Executive of Rakaposhi Pharma Zahid Arif, Chief Executive of Roto Air (Pvt) Limited Inam-ul-Haq and Chief Manager of Al-Baraka Islamic Bank Naeem Bangash, short-listed nine business plans.
The Frontier Women University won first prize on the best business plan award, while Institute of Management Studies and Comsats Institute of Technology Abbottabad clinched second and third prizes respectively. The first prize of Rs 20000 was also given by the Governor from his own fund, while second prize of Rs 10, 000 was given by the Chief Executive of Frontier Foundry, while the third prize was given by the President of Industrialist's Association.