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Laurier students heading to finals in prominent business plan competition
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An innovative plan to create Canada’s first student-run financial institution has earned a team of students from Wilfrid Laurier University and the University of Waterloo a place in the final round of one of the largest business plan competitions and entrepreneurship conferences in the country.
A total of 12 teams will be competing at the Enterprize Canada competition Feb. 10 and 11 in Vancouver. The group of Laurier and Waterloo business students will present their plan for the Waterloo Banking Project, a not-for-profit, co-operative, and student-run financial services organization that aims to help students graduate with more money, less debt, and better financial skills.
The Waterloo Banking Project placed second in the Enterprize Canada central region business plan competition Jan. 14, held at the University of Guelph. This qualified the team a place in the final competition.
The judges offered feedback and advice on improving the team’s performance for the finals. They were also impressed by how much the team had achieved so far in developing plans for a student-run financial services organization.
"The judges gave us some pointers for clarifying our financial model and financial statements," said Mark Haley, director of finance for the project and a fourth-year Laurier business student. "I'm excited to go to Vancouver and represent Laurier at the national level."
“We think the fact that we are a social enterprise and that we have actually begun implementing our plan will really set us apart from the other teams,” said Ryan Chen-Wing, project leader and a fourth-year economics and history student at Waterloo.
Enterprize Canada’s business plan competition and entrepreneurship conference is hosted and organized by students of the University of British Columbia’s Sauder School of Business.