Business Students for Business Development

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Business Students for Business Development

Quito, EcuadorQuito, Ecuador
Year Founded:
2015
Organization type: 
hybrid
Project Stage:
Idea
Budget: 
$10,000 - $50,000
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

My project will make an impact involving business students of Quito to mentor people with informal/small businesses. Students will help organizing, planning or improving their activities. This will permit a mutual benefit that will contribute on the progress of Ecuador.

WHAT IF - Inspiration: Write one sentence that describes a way that your project dares to ask, "WHAT IF?"

What if Business Students could get a truly reach experience through helping people with informal businesses to develop their activities and thus enhance future opportunities.
About Project

Problem: What problem is this project trying to address?

There is a lot of small and informal businesses in Ecuador leaded by hard working people with no educational background to improve their activities in the future. On the other hand, Business Students in ecuadorian universities have to make a final project in order to graduate that will not be developed or executed, there is also lack of opportunities to gain experience before graduating.

Solution: What is the proposed solution? Please be specific!

The solution consists on replacing the final projects of the business students (optional) in order to help informal/ small businesses to develop their activities, through applying the knowledge obtained at college. The organization will create a platform with options, and the interested students will pick a project on the area they desire to develop it, such as tourism, commerce, food. Best performances will be awarded and the top three will have monetary prizes and the opportunity to develop their own business ideas, guided by specialized mentors, entrepreneurs and investors. This idea will give a real life experience to the students and it will help to develop the future of the hard working people with limited resources.
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

As a business student I felt that I did not have enough opportunities to have experience on my area before graduating, everything was so theoretical. On the other hand I have seen so many hard working people with small businesses with a lack of knowledge that stops them of growing or pursuing better opportunities. I am sure there is a lot of potential on getting a mutual benefit out of this program that will impact even the future of the country, having more entrepreneurial professionals caring about the progress of them and the others.

Impact: What is the impact of the work to date? Also describe the projected future impact for the coming years.

There is a lot of problems on the business culture in Ecuador that have lead on lack of entrepreneurship and creation of sustainable companies, as I mentioned before the business education is so theoretical that does not make a big contribution on the progress of the students when they graduate. This will definetely create a better business culture on Ecuador regarding good practices like leadership, human resources planning, basic accounting knowledge & tax responsibilities.

Spread Strategies: Moving forward, what are the main strategies for scaling impact?

Creating the organization Socialize these ideas with the universities Making a big plan for investigating small businesses in order to create the platform Making alliances with investors, mentors to contribute on the development of the organization and also finance the ideas and awards. Start working for them.
Sustainability

Financial Sustainability Plan: What is this solution’s plan to ensure financial sustainability?

The project will be maintained through the national private and public investment and the international investment as well. It is important to mention that a lot of companies have a budget for donations in order to contribute on the business development leaded by young people.
Team

Founding Story

My passion it has always been my country and the desire of helping others to have better opportunities, my experience as a business student made me realize that running this idea will lead a mutual benefit, fixing two problems and making an impact in the future.

Team

I have a great team already for my idea, it will be composed of 5 people at the beginning, each of one specialized on a different area and with a special talent that involves areas needed such as business, web page developers, negotiators, public relations and market researchers. All of them pursuing the same goals, all of them with the desire of contributing to the development and the improvement of people´s lives.