First Cut inter-collegiate business competition begins

Dimapur, November 30: Altogether 16 teams from 6 districts will compete for ‘First Cut Inter-Collegiate Business Competition’ which will begin on December 1. The Hornbill First Cut business competition will be held during Hornbill festival from December 1 to 10 in Kohima. This is the third edition of First Cut, an inter-collegiate business plan ideation and execution competition. It is a programme of YouthNet ‘IMPACT 5000 by 18’ campaign which is being conducted in collaboration with the State government. The chief mentor of the programme will be the editor of Nagaland, Geoffrey Yaden. The primary objective of the First Cut is to educate students about entrepreneurship and opportunities in the private sector while giving them a taste of the challenges pose on ground realities. Students will form teams and be given seed money of Rs 20,0000 each. Before commencement of the competition, the teams will be trained on marketing, accounting and business skill and constantly monitored throughout the competition. The first edition of First Cut competition was won by St. Josephs College, Jakhama, for generating revenue of Rs 84,000. They also won an educational trip to Hyderabad where they visited the ISB (Indian School of Business) and also visited various multinational companies. The second edition was won by Sazolie College for generating Rs 1,50,000 from their seed money of Rs 20,000 in 10 days. Teams from Longleng, Mon, Zunheboto, Kiphire, Dimapur and Kohima have confirmed their participation in the third edition.