Fostering the Innovative Entrepreneurial
Mindset Among the Youth:
NeuXP announced the Winners of its Inaugural Entrepreneurship Challenge for University Students
Kuala Lumpur, Malaysia, 21 December 2021 – NeuXP Group, an integrated digital banking platform provider, announced the winners of its inaugural NeuXP Entrepreneurship Challenge (NEC) 2021. NEC 2021 was an 8-week business idea competition that kicked off on 16 October 2021 via the virtual platform. It was open to university students across Asia to compete in solving significant problems through an innovative and sustainable enterprise idea while being mentored by global professionals from various fields.
During the course of 8-weeks, the teams were tasked with several structured activities to help them with their innovative business idea, specifically on mobile applications. The participating teams were also mentored on topics such as starting and managing a business, sharpening their pitching skills for funding, marketing, branding, problem-solving, protecting their business ideas, and many more valuable business skills throughout the competition.
This competition not only encouraged the development of entrepreneurship knowledge and skills for the students but also allowed for enterprise experience and the application of the students’ academic knowledge in a practical way. On top of the knowledge, skills, and expertise acquired through this competition, the participating teams also stood a chance to win cash prizes, internship placements with the company, and the opportunity to get NeuXP’s continuous support in launching their mobile application.
During the semi-final round held on 4 December 2021, nine (9) teams pitched their ideas of innovative mobile applications in front of a panel of judges among regional and global business leaders. Based on the judging criteria such as business conceptualisation, presentation skills, competitive advantage, and their app’s commercialisation potential, five (5) teams made the final round held the following week. The finalists were team Poise Hera who presented an event planner management app, team Bachal with an app customising booking and buying of fashion products, team Familia who pitched an app dedicated to connecting family members, team Smiley Squad with an app for individual’s healthcare management and team Showtime, an app especially for the management of entertainers and event organisers.
At the final round, the finalists were challenged with presenting their launching plans and user acquisition strategies. Three (3) teams stood out as the final winners in this inaugural NEC 2021, including one champion, one runner up and one second runner-up. Team Poise Hera, with its event planner app, was crowned the champion for having the most innovative idea and clear go-to-market plan. Team Bachal with its booking and buy app won the first runner-up spot while team Showtime, the second runner-up spot with its entertainers and event management app.
NeuXP is confident that the competition marks the culmination of the entrepreneurial journey for the participating teams. As for the winners, besides receiving the prize money, NEC also helps them fuel their commercial or social venture after graduation. With the success of this inaugural NEC 2021, NeuXP aims to make it a yearly programme, in line with its aspiration to encourage more innovative entrepreneurs among the youth in Asia and beyond.