Three MBA 11 students came tops at the second Impact Investing Business Plan Competition organised at Lagos Business School recently.
The yearly contest aims to make the MBAs bridge the gap between economic growth and lagging social development through profitable businesses that solve social problems. As such, participants are expected to draw up and present business models that would not only yield profit but make a positive social impact on the society.
Indeed, the mix of business models and presentation skills was engaging. Participants took the floor by turns to present their business plans ranging from pharmaceuticals, health & beauty to waste management and technology, among others. Their presentations were screened by a panel of judges drawn from Digiplus Limited, Fine and Country West Africa, The Tony Elumelu Foundation, Samsung and SI Online Marketing School.
Three successful participants won cash prizes from sponsors Fine and Country West Africa and Digiplus Limited. Kanyinsola Smith placed first; while Moyo Awopegba and Babjide Soyebo placed second and third respectively.
While commending the participants, Dr Henrietta Onwuegbuzie, LBS faculty and facilitator of the contest, projected that with successive impact investing competitions the public would ultimately realise that doing good is compatible with doing well financially.
“By having people understand they can build profitable businesses around social problems, we can improve society and reduce the gap between aggressive economic growth and lagging social development,” she said.
“I think LBS has done a commendable job with the students,” quipped Mr Richmond Okafor, CEO, Digiplus. “I’m confident that they’ll make a huge success of the business initiatives they’ve presented.”