- Nanyang Technological University, Career & Attachment Office (CAO) hosted a new initiative — Sociopreneur Campaign for NTU students
- The speakers of the workshop were Ms Rebecca Wan, Co-Founder of Xprenia, Ms Shelby Tee and Mr Paddy Tan, Managing Partners of BlackStorm Consulting and Mr Ivan Choongfrom Senior Assistant Director of NTU Career & Attachment Office (CAO)
- BlackStorm Consulting’s team shared some key elements to focus on when starting a new business
January 26, 2021: As part of the university’s “Entrepreneurship for Good” initiative to promote enterprises that advance meaningful causes, the Sociopreneur Campaign is launched with the aim to help students to develop solutions addressing social, cultural, environmental issues while teaching them to structure a viable business proposal to make it happen.
Ivan Choong was doing the opening of the event
Xprenia and BlackStorm Consulting were cordially invited by the NTU Career & Attachment Office (CAO) to co-host workshops for the Sociopreneur Campaign. Co-founder of the e-Learning platform Xprenia, Rebecca Wan, as well the Managing Partners of BlackStorm Consulting, Paddy Tan and Shelby Tee, were invited to share with entrepreneurial-minded students what it means to run a social enterprise, and equip them with the necessary skills, tools, and mindset to launch their own businesses.
Paddy Tan was introducing BlackStorm Consulting
As the first session of this campaign, students got to hear from the invited speakers and formed teams to formulate a business idea, which they would have a week to work on before pitching it to the industrial experts in the second follow-up workshop. For subsequent sessions, they would be given the opportunity to seek formal consultation from the speakers and have their business ideas reviewed. On the finale to be held on March 15, the top 8 teams will make their final pitch before a panel of industry leaders. Evaluation criteria include:
- Understanding of the social issues/problems and meeting the market needs and capture the available opportunities
- Possesses a unique value proposition in its offerings
- Competitiveness in the market with appropriate Competitors’ Analysis & Go-to-Market Strategies
- Operationally & financially viable (taking into consideration the two weeks of execution)
- Presentation and Pitching
As prizes for the campaign, 70% of the proceeds will be reward money for the team while the rest will be donated back to NTU Funds. Business proposals that have a positive social impact will also be considered for a grant of up to SGD1,500.
To kick things off, Paddy and Shelby from BlackStorm Consulting shared their insights on what a social enterprise means, as well as how to start and sustain their own business while championing meaningful causes.
Shelby Tee was sharing some business concepts
Addressing the issue of the lack of practical experience, Rebecca, founder of Xprenia, then stepped in to introduce the services offered by her Singapore-based e-Learning platform, which includes first-hand stories and compressed knowledge from industry experts of various fields.
Rebecca reiterates that being “relatable” will be the key to breaking into Southeast Asia and connecting with its increasingly-affluent consumer market, reminding the students to take that into consideration as they craft their business pitch. Xprenia’s insightful podcasts and interviews from industry leaders can go hand-in-hand to shed insights on the nuances and adaptations that have to be taken note of as businesses attempt to venture into overseas markets.
The event ended off with a Q&A session, where students let loose to connect with the guest speakers and one another while seeking consultation that their idea is on the right track. The following session on February 2, 2021 will see each group formalising their business idea and making their first business pitch. Be sure to stay tuned!
Xprenia (www.xprenia.com) is a self-managed e-learning platform that presents first-hand stories and knowledge from industry experts, always keeping you up-to-date with insights across the world. We promote learning from the experience of others to shorten the years you would have needed.
About BlackStorm Consulting
BlackStorm Consulting (http://blackstormco.asia/) is a Singapore-based business scaler that specialises in corporate strategy, profit management and market entry in Southeast Asia. We scale businesses through closing up strategic gaps that hinder companies from reaching their potential. Our clients and connections are internationally present and range from small and medium sized businesses, MNCs, to government agencies.