Society needs innovative solutions to keep up with its fast-paced development…….
In the past, people might have found it difficult to run their own business due to limitations in capital, skills and knowledge. A company would have often required a physical presence / location in order to handle administrative work as well as sell products and/or services. However, times have changed – with the advanced technology nowadays, starting up a business is more affordable and indeed more achievable than ever before.
Our tech-savvy generation has become advanced in terms of digital discovery and awareness and as a result, we are seeing an increase in digital channels for sellers and multiple options for customers to carry out transactions. Other developments in social medial mean that individuals can now share customer experiences as well as meet new people without the boundary of time and space. This has prompted individuals to generate thoughts for creative business ideas which incorporate digital technology – consequentially there is a growing number of start-ups which are transforming businesses practice today.
Participants are required to come up with a detailed business plan for a start-up company incorporating digital technology. Their business plans are expected to be thoroughly researched with future insights and innovative ideas to move the business forward in terms of turnover and sales performance.
Proposals will be examined from the following aspects:
- Originality and creativity