Start-up Simulation Competition at Curtin Malaysia gives students insights into setting up businesses

Miri – 18 August 2017 – A Business Start-up Simulation Competition for students of Curtin University Malaysia (Curtin Malaysia) was recently held for the first time at the university as one of its Accounting Day 2017 events.

It was organised by the Accounting Club Curtin Malaysia (ACCM) with support from the Malaysian Institute of Certified Public Accountants (MICPA) with the aim to provide students interesting insights into the world of accounting and business. Sponsoring the event were accounting firms Crowe Horwath and Ernst & Young.

Over 40 commerce and engineering students took part in the competition following a talk on MICPA by MICPA student ambassador Humayun Babar. Forming 10 groups, they had to go through four challenging yet fun-filled competition stages simulating an entrepreneurial business start-up.

In the first stage, each group of students had to decide on their business activity, company name, logo, vision and mission.

In the subsequent stage, they were required to construct organisational charts and allocate reasonable salaries to match job positions in their companies, then plan marketing strategies to promote their products or services in the third stage.

The fourth and final stage saw them generating and developing their company budgets.

At each stage of the competition, the groups were required to pitch their business plans to the members of the event committee, who played the role of investors, to obtain investment capital funding for their ventures. The event committee also guided them on the basic principles of forming business start-ups and gave pointers on investor pitching and giving business presentations.

Group 5 comprising Wong Kar Kar, Lim Sy Shyan, Yvonne Kong and Ling Fong emerged the champions, followed by Group 8 comprising Wong Jen Lam, Ann Chin and Christine Chuo, and Group 1 consisting of Farhan Hossain, Syed Murtuza Mahmood and Stephen Tan in first and second runner-up positions.

Two other teams were presented awards for best group teamwork and best presentation skills.

Participants go through four challenging yet fun-filled competition stages simulating an entrepreneurial business start-up.

Group photo of the organisers and participants.