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Ecobiz: A live business competition at ASB

Socrates, great philosopher, said, “The secret of change is to focus all of your energy not on fighting the old but building on the new.” The global world has expanded as the horizons have expanded. The changing times are not only causing structural changes, but also giving young minds wings. It’s not just the intent that is budding but also the ideas that have planted their roots in the systems. It’s the revolution of innovation that is underway and will soon capture the entire world, freeing us from the traps of closed structures and making us owners of our own lives. The role of the idea or entrepreneur is changing its definition with every blink of an eye. Entrepreneurship is about more than just how you develop your idea; it is also about how you market it. Necessity is the mother of invention, but it’s important to deduce that every invention needs innovation.

To propagate and instill these characteristics in our students at ASB, an event named Ecobiz by EDIC (Entrepreneurship Development and Innovation Cell) was organised on the premises. The participants from different batches and courses of ASB came together in teams with their innovative ideas and presented them with the utmost courage and confidence in the first round that took place on November 4, 2022. With the successful completion of the first battle, a total of 11 teams crossed the stream to reach the shore to fight their final battle. The grand finale took place on November 11, 2022, where the students set up their stalls to display their ideas and earn revenues.

The Ecobiz event was judged on the basis of product novelty, eco-friendliness, optimum cost and revenue, and rate of return on investment. The students were assessed on these criteria, and henceforth winners were declared. The teams earned a generous profit of Rs. 15000, which was donated to a non-profit organization, “GOONJ,” as a humanitarian act.

The respective winners and the criteria by which they earned their reward were:

The highest profit was earned by team ASB Craftwale.

The highest rate of return on investment was earned by team Imagica.

The highest sales were earned by Team Paprika.

To conclude any event, it’s important to congratulate not only the teams and their members but also the mentors who guided them to reach their goals. The event was declared a success with the announcement of the winners, and the students discovered a kind of learning that will never diminish but rather grow in leaps and bounds and take various forms to groom them throughout their lives.