Karachi, July 18, 2010: Engro Corporation Limited partnered with the Institute of Business Administration (IBA) to host a grand finale for Pakistan’s first business plan competition, namely ‘Invent – the Entrepreneurial Challenge’. Engro Corp presented the ‘Engro – IBA Excellence Awards’ to the top three winners, with cash prizes of PKR 500,000, PKR 300,000 and PKR 250,000 respectively.

Invent is a one of kind event, serving as a platform to showcase the business acumen of students from across 13 leading Universities of Pakistan. Participating students were given four (4) months to prepare and submit a viable business plan, in line with the Pakistani economy, and having the potential to be a successful business model. Apart from testing the innovative capacities of the youth, the competition aimed at instilling a sense of confidence and team work. Team members were asked to assign specific business roles in order to simulate an actual business environment, and had the liberty to choose any undertaking for the project as per their area of interest.

Sarfaraz A Rehman, Senior, Vice President Engro Corp, presented cheques to the winners, saying, “On behalf of Engro Corp, I would like to congratulate all the winners for putting in so much thought, creativity and effort. Hard work never goes unrewarded, and the initiative by these students is a testament to the potential of Pakistan’s future business leaders. I have no doubt in my mind that the youth of Pakistan has an abundance of talent and intellect.”

Dr Zafar Siddiqui, Director IBA-CED highlighted, “The first ‘Invent – Entrepreneurial Challenge’ has been extremely successful, with a variety of business plans ranging from sectors of energy to agriculture to architecture having been showcased. We must thank Engro Corp for their support in encouraging the potential of Pakistan’s students, and we look forward to fostering our relationship to further our contribution and support for Pakistan’s educational landscape.”

Visit invent.iba.edu.pk to learn more about ‘Invent – The Entrepreneurial Challenge’ and winners