LUMS Business Initiative ‘13, a three-day event hosted by students of the Lahore University of Management Sciences (LUMS), featuring several competitions for over 350 participants from across Pakistan, kicked off on the January 5. The event took flight from the opening ceremony and since then it had been a roller coaster ride which included action packed business events, an exhilarating carnival and an all-too-electrifying concert. The chief guest at the opening ceremony of the LBI’13, Naeem Zamindar, CEO at Wateen Telecom and the founder of Zamindar Capital, spoke colloquially to the audience regarding his experience with entrepreneurship and shared his thoughts on the vitality of innovation. “The difference between the enlightened and the less enlightened is that the former takes responsibility for everything whereas the latter feels only responsible for his immediate belongings. We are all innovative people with great ideas but only a fraction of us actually get up and work on those ideas,” he said. Regarding the future of entrepreneurship in Pakistan, he said it were the young entrepreneurs whom Pakistan needs and it was innovation that could take the country forward and save its companies from stagnation and failure. Welcoming the participants, LUMS Vice Chancellor Dr Adil Najam, spoke about how the event will enlighten students and will inspire students to engage in green entrepreneurial business activities in their future. While addressing the audience, he appreciated and praised the untiring efforts of the host team, whose zeal had been the driving force behind the event’s success. He said the event would enrich the students academically and prepare them for the future. The Business Events comprised of Plug it In, Brand Rush, Social Innovation and Sustainability Challenge and the Idea Junction. Plug it In required the delegates to create video advertisements on pre-assigned brands and it was delightful to see how the teams brought in innovative ads on products like Lipton tea, Dunkin Donuts, Kit Kat and many others. The Brand Rush competition took place in the field behind the LUMS sports complex. Each team was given a stall and had to advertise the products they had been allotted in that stall by setting up decorations and employing other marketing strategies. There were 25 esteemed judges who visited each stall in turn to award points to each team on the ways in which they pitch their products. Social Innovation and Sustainability Challenge tested the teams on their ability to come up with solutions to the ‘environment problem’ and to contemplate on ways to transform business activities so that they were in line with environment protection and sustainability. Finally, Idea Junction brought was a fierce competition where teams came up with exciting new ideas for different products and services. The event entered its ‘fun phase’ with the highly anticipated carnival. With a roaring bonfire prepared to counter the chilly weather and numerous stalls providing food, drink and games, the carnival was enjoyed by the all the delegates. The LUMS Business Initiative’ 13 (LBI) is an event aspiring to emphasise the importance of business management and green entrepreneurial practices to the youth in the modern business world. The students organizing the event comprise members of the Managerial Society of LUMS (MSL), which received the First Prize at the Young Entrepreneur Business Plan Competition last year.
