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Business Plan Competition Winner

A new competition, a new experience! In 2020 Widyatama University hosted many competitions for high school and college students, ranging from photo and videography to news anchoring. One of these events was a business plan competition for the service and manufacturing industries. This ran from 19 October to 5 December 2020. The first evaluation was held on 7 and 8 December, and the final judging took place on 11 December.

Raffles College fielded two teams to compete: the DASH team, consisting of Anson, Devina and Sherlyn - and the Gubuk Sushi Team, consisting of Nadia, Bryan, and Richie. Making a business plan for new, original products and services that do not yet exist in the market, was the challenge facing the two Raffles College teams. Innovations were discussed in both teams; in the end, the DASH team settled on an 'all you can eat' Korean barbecue food truck, while the Gubuk Sushi team opted for an online restaurant serving a cuisine fusion of Japanese sushi and Indonesian traditional food.

Both teams began their journey in making a business plan proposal. This itself had a complicated structure, something that neither team had ever seen or done before. It started with a brand new product or service that must have relevance and social impact, analyzing appropriate marketing strategies for each business, management, potential risks and opportunities; calculating budgets, break-even points, milestones, and many other items. These were just half of the report content; faced with such daunting obstacles, both teams were on the verge of giving up - but Ms Chong, the teams’ lecturer, gave unfailing guidance, supported both teams, and rekindled their enthusiasm. The teams then persevered to achieve the very best they could.

On 9 December 2020, Widyatama University announced that both DASH and Gubuk Sushi were among the top seven finalists from the 58 competing teams. Hard work had paid off, but there was one more step to go. The culmination of their endeavours was to prepare a 10-minute presentation comprising a maximum of seven slides and a video describing their business, along with a product prototype. Both teams worked through the night to perfect their presentation, which had to be submitted by the following noon.

The day of the grand finale came, and the competition was tough. Each team did not know how other teams had performed as they were not allowed to view their presentations. In spite of being competitors, DASH and Gubuk Sushi always had each other’s back, and provided mutual support since the beginning. Even though it was a competition, sportsmanship was still Number One.

Going through the detailed evaluation and questioning by the judges during the presentations was not easy, but the DASH team climbed their way to third place. Second place went to the Termoplant team from Widyatama University, and first place was won by the Tap Leather team from the University of Malaya Wales.

Becoming one of the top seven finalists in a field of 58 competitors, and eventually becoming one of the winners, is such a great achievement. The journey was not easy for both teams, but the experience they gained was like no other. Congratulations to both teams! What an excellent job! Both teams have made Raffles College proud.