Entrepreneurship Competition: What Is It Really?

Article by: Kirtana D.

Edited by: Joaquin M.

Visual by: Zelda F.

February 13 marks the return of the annual Entrepreneur Competition where juniors studying IB Business Management consolidate their learning and present a pitch for a product to a panel of leading business people.

This organizing committee of the competition often consists of seniors who have gone through the process themselves. The president of the committee Richa S. (12) describes the competition as “a celebration of young entrepreneurship in the ISM community.” When asked about the  origins of the competition she said, “The participants of this competition are first-year IB students who are enrolled in the Business Management course. The competition was initiated by Mr. Daiju Vithayathil in 2014.”

For a much awaited competition, surely a lot of thought goes into planning it. Richa says, “One of my biggest responsibilities was to acquire sponsorships for the event, which I would say was quite challenging. But overall, it’s just coordination, communication, and organization that made the event a success!” The event is divided into two parts – the prelims and the finals. Richa describes the competition as, “the first event that takes place is the Prelims. It is set up like a business fair wherein all the judges assess each idea and decide which ones make it into finals. This year, 18 teams were involved in the competition, and only 6 made it to finals, which was structured like the TV show ‘Shark Tank’.”

Unlike many assignments in the IB, this is not part of the official IB curriculum. The competition allows students to gain experience at executing business ideas and serves as an important learning experience. Richa explains, “The competition is not included in the IB Business and Management syllabus, but it’s something we do at ISM just to give students an insight into the business world. We think it would be really helpful to them if they ever decide to start their own company with a group of people.”

So how was the competition? Richa believes that “it went very well and the council’s hard work paid off.” She further elaborates, “It was an incredible experience, and I’m so grateful to have been a part of it!” Congratulations to the Hive for winning best business! For all the sophomores out there planning to take IB Business Management, you have a lot to look forward to next year.