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A business plan to make and sell frozen dessert with malunggay and carrots won the nod of judges yesterday who chose Business Administration students from the University of Cebu in Lapu-Lapu and Mandaue (UCLM) as winners of the My Business Idol contest.
Johnroy Lastomen and Mary Joy Celoso, 4th year business administration students, impressed judges with their product, Malunggay Sherbet with Carrots, and their business plan among four other entries in the contest held as part of the celebration of Mandaue Business Month.
The students and their coaches UCLM BA faculty members Marlon Montecillo Jr. and Veril Rodulfo Jr. made up the UCLM team that won the P50,000 top prize.
The winning entry is a frozen food made of milk, cassava starch, malunggay, and carrots, which is aimed at providing good nutrition at a price of P5 per cone.
The project had a startup capital of P100,000 and projected return of investment in 13 months.
?Food is something that can?t be matched because food is always a staple,? said furniture designer and exporter Kenneth Cobonpue, a judge in the panel.
Cobonpue was one of five judges in the My Business Idol contest with Jack Gaisano of Vicsal Development Corp., Julita Urbina of Cafe Laguna, Butch Carungay of Avatar Accessories Inc. and businessman Romeo Briones.
It was the second time UCLM won the contest.
UCLM Management students bagged last year's My Business Idol contest with their business plan on marketing Lumpia con Humay at P13 a piece.
The contest was part of the Mandaue Business Month celebration of the Mandaue Chamber of Commerce and Industry with the theme ?Reaching Far and Beyond.?
This year?s contest was held at the Capitol Social Hall and brought together five universities and colleges in Cebu. Each campus was represented by two students who were tasked with setting up a corporation with a business concept.
The activity was aimed to promote entrepreneurship among students.
University of San Carlos students won second place with their plan to sell Terra bags made of old tarpaulin. The bags are lightweight, water proof and durable.
?It was nerve racking at first and my partner and I were just so relieved that we won second place and that our efforts were recognized,? said Mel Emmie Bautista of USC.
The USC students received P30,000 as cash prize for their business plan.
The University of the Philippines submitted an events organizing project and the University of San Jose Recoletos presented the Gotu Kola Cropic. Both tied for third place and won P30,000 each.
