AUSUM Initiatives – Entrepreneurship Innovation Day
I was very excited to be asked to be a guest judge for the AUSUM Initiatives Entrepreneurship Innovation Day at Southern River College. A group of 25 year 10 students were asked to break into groups of 5 and create a new business idea. With a budget of $400 they were asked to come up with an idea, a budget for items needed and the cost of products to enable them to make a profit.
The day was organised and held by AUSUM Initiatives, a NFP whose program introduces students to entrepreneurship in Australia.
AUSUM Entrepreneurs is a specific program that inspires young people from low income communities to stay in school, recognise business opportunities and plan for successful futures. Beyond Bank proudly supports AUSUM by volunteering as Judges at Innovation Days and Business Camps.
Beyond Bank’s State Manager Michelle Coelho and I got to spend an hour walking around the room talking to the groups, discussing their ideas and exploring ways to help them improve their business. I was very impressed with how the students interacted with us and took our ideas on board.
The students then presented their business idea to the judges just like on the TV show Shark Tank! They needed to explain the business name, budget and expected profit, how they would market their product and why it would be successful. We were able to ask questions to probe the students on the finer details of the business venture. We then discussed all the proposals and came up with a winner being “The Doughnut Delights”.
It was really pleasing to see young passionate entrepreneurs of the future starting their journey in life, and I hope to see them again one day in the Beyond Bank Community Entrepreneur Program.