ENCOURAGING IDEAS: ADGP (EOW) Archana Ramasundaram interacts with the participants of the SIFE competitions in Chennai on Friday. — Photo: M. Vedhan

Chennai: Four teams from city colleges will showcase innovative business ideas for community development at a national competition to be held in Mumbai on June 20.

The students, members of a global non-profit organisation called Students in Free Enterprise (SIFE), have come up with a range of business plans: Jatropha cultivation for small farmers, culinary skill training for unemployed youth, and optimising use of marine resources.

Teams from MGR Janaki College of Arts, SDNB Vaishnav College for Women, Loyola College and SRM University beat 16 other colleges at the SIFE regional competition here on Friday.

They will soon face three other teams from north India to compete for the national championship. The winning team gets to participate in the SIFE World Cup competition in New York.

Professional approach

Preparation for the SIFE competition starts almost a year before the competition. One of the judging criteria is the effectiveness of the strategy developed to ensure the sustainability of the business venture. Students, therefore, would be required to assess the market, start a pilot project in the community and measure its success.

An example is MGR Janaki College's work in Vairavankuppam, a fishing hamlet located near Pazhaverkadu. The students helped villagers to use fish wastes to make a soil conditioner.

Fish waste and molasses are fermented to make the conditioner. Students also taught villagers to make poultry feed from fish wastes.

Loyola College students took up the challenge of offering bakery skills for youngsters from the Narikuravar (gypsy) community. "They are now training with La Boulangerie, a bakery and training institute. We expect them to be placed in star hotels," said Loyola's SIFE student president Ignacy Arockiyaa.

The SRM University team has proposed a jatropha and aloe vera cultivation plan in rural areas. SDNB Vaishnav College is working to promote handlooms produced by weavers in Anakaputhur.

MOP Vaishnav College's efforts to promote entrepreneurship among women and Alpha Arts College's support for palm products were some of the other interesting ideas promoted. Last year, Alpha College bagged third place in the SIFE World Cup competition.

Keshav R. Murugesh, chairman of SIFE India, said, "Students learn business concepts, plan and execute projects... They create economic opportunity for others and develop leadership skills."

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