Title: “8th Invention to Innovation Summit ORIC University of the Punjab Lahore”
Day & Date: Tuesday, Wednesday 2nd– 3rd April, 2019
No of Participants: 8
Venue: University of the Punjab Lahore.
8th Invention to Innovation Summit was two day event held by University of The Punjab and University of Management and Technology at the Centre for Excellence in Molecular Biology (CEMB). It comprised of the CEO talk, held on Day 1 i.e., April 2, 2019 and Business Plan competitions, held on Day 2 i.e., April 3, 2019. It was a platform where all the young entrepreneurs and business enthusiasts from every field and institute came and showcased their ideas and startups. For the students, it was a platform to get the knowledge of how to think creatively and out of the box and how to shape that idea into reality. The objectives of the Summit were as follows:
- To think critically about virtually every aspect of one’s
- To help people build confidence in their business idea
- To expose a person to other entrepreneurs and investors, and new ways of thinking
- To shine a spotlight on people and their ideas
- To identify people with a compelling reason to buy one’s product
- To identify the right target markets
- To explain why new businesses are so valuable to customers
Two teams from Kinnaird College for Women, Accounting and Finance Department took part in two different competitions in the Summit under the supervision of Dr. Atia Alam. The teams are as follows;
Business plan competition (Oral Presentation)
Business Idea: ShopEase
Team Head: Dr. Atia Alam
- Hadiya Riaz (Semester 6)
- Misbah Khan (Semester 8)
- Meeral Zia (Semester 6)
- Kiran Imran (Semester 6)
- Faryal Zafar (Semester 6)
- Nimra Haroon (Semester 6)
- Rameesha Mirza (Semester 6)
Twenty teams out of all the applicants were selected to present and ShopEase by Dr. Atia Alam was one of them. Other teams in this competition were from University of Veterinary and Animal Sciences (UVAS), University of Management and Technology (UMT), Punjab University, University of Central Punjab (UCP) and few other renowned universities of Pakistan.
The Draft of the Business ShopEase is as follows:
Few people in Pakistan either do not have a bank account or they are not comfortable with giving their information online. On the other hand, many online shopping websites only deals with online transactions, not cash on delivery. This becomes a barrier for many people in the way of getting what they want. So there should be an intermediary which can solve the problem of the customers and the suppliers simultaneously. Our company will serve as an intermediary between the two parties who want to make a transaction. On the very basic level, it will make a transaction with the online website and with the customer also. The company will use its own bank account to make a transaction with the seller and then take money from the customer. The customers or people who do not have the facility of credit / debit cards will register themselves on our website and open their account to our website and deposit a fixed amount in it. It can be through bank transfer, overdrafts, easy paisa or they can manually deposit some amount in our account. on our website, we will open their account and when they have to shop online, they will fill a form on the website, which will include certain things, like the website from where they want to purchase, its link, product name, product quantity, product code and all their shipping information. We will place the order for the customers and pay the bills. Then, we will provide the customers with the confirmation mail or message and their balance. The shipping address will be that of the customer’s. We will then, keep record of the customers’ balance in our accounts. The business will earn through commissions from the customers in return of the service we will provide.
Business plan competition (Poster presentation)
Business Idea: Last Service
Team Lead: Dr. Atia Alam
Other member: Misbah Khan (semester 8)
Business ideas were presented by displaying posters related to the idea.
The Draft of the Business Last Service is as follows:
People mostly in traumatic situations, like deaths, are unable to deal with the rituals appropriately that are to be performed as per their religion. Unfortunately, in Pakistan no such event management company exists which caters the needs of deceased’s family. The objective of this project is to provide death service, while keeping in view the customs or rituals of the client. Services which include catering, setup management and other funeral duties and requirements will be provided. Services will be classified into different packages based on the intensity or types of services in order to meet the values and norms of society. The aim is not only to provide them services but also to share their pains during their distress.