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After 4 months of hard work and determination, a team of 6 Higher Nitec (Accounting) students from the ITE College Central (Bishan Campus) School of Business and Services recently emerged the overall champion in the Open Category of the Young Entrepreneurs Skill Competition (YESCOM) 2009.
Winning Team Members with their trophy and prize.
(Front, left to right) Lim Zhi Hao, Ho Luo Shan, Jonathan Tan
(Back, left to right) Geoffrey Soo, Mohammada Fathima, Wong Xin Yi (not in picture)
As part of the School’s entrepreneurship club activities and to provide entrepreneurial venture exposure to our club members, four teams from ITE College Central (Bishan Campus) School of Business and Services (3 teams from Administration and 1 team from Accounting Department) were selected to participate in the above yearly event.
The YESCOM is a yearly event organized by KESUMA Association of Malay Entrepreneurs since 2005.
YESCOM 2009 was jointly organized by KESUMA and Ngee Ann Polytechnic and was launched on 30 April 2009 by Mr Zainudin Nordin, Mayor of Central Singapore District.
Presentation of Trophy by the Mayor.
In this year’s competition, teams competed in two different categories, namely the Junior Category for primary and secondary schools and the Open Category for the higher institution and Youth Organizations. A total of 20 teams – 14 teams under the Junior Category and 6 teams in the Open Category took part in this year’s competition. This is also the first year that ITE has participated in the above competition.
The competition required the teams to compete in 5 different segments.
1) Sale of Coupons - Teams were expected to sell $1,000 worth of coupons before the Grand Finale (actual sale).
2) Social Enterprise segment - Team were required to communicate with a Home of their choice, and to come up with a 2-page proposal on how they could help to raise funds together (or for) this organization.
3) “Young Entrepreneurs Summit 2009”Seminar – Teams were required to submit an essay after seminar held on 4 July 2009.
4) Grand Finale – Teams would conduct their businesses during the full-day selling session held at the HDB Hub Mall, Toa Payoh Central on 12 July 2009.
5) Financial Statements. Teams must submit an income statement to the organizer after the Grand Finale.
Our team’s total sales amounted to more than $850 and the profit earned from the business venture was about $175. The team contributed about 20% of their profit to a charitable organization after the event.
Picture with Mayor after the Award Ceremony.
The event was successfully completed by all teams in August 2009. The award presentation was held on 3 Oct 2009 at Ngee Ann Polytechnic.
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