Team
We are a team of 4th year Bachelor of Commerce and Professional Communications students at Royal Roads University and members of SIFE Royal Roads.
The Concept
The Microfinance Business Ideas Competition (MFBIC) is an online competition organized by students that focuses on identifying, rewarding and promoting small business ideas which can be funded through Microfinancing for underprivileged people. Our target audience is university students, Microlending institutions and anyone who feels they have great idea to offer.
Our Goal
As proven through organizations such as www.Kiva.org, the Grameen Bank, the Grameen Village Phone, Visionspring, Women’s World Banking and The Shore Bank, Microlending is a successful way to empower individuals by giving them the resources they need to build a profitable business. To realize our goal, we are looking for keen, business-minded people to submit a Microfinancable business plan that caters to the current needs of the villages around Moshi, Tanzania or Victoria BC Canada.
There are cash prizes for first, second, and third place starting from $2,500.00 CAN, and the MFBIC competition runs from February 1st, 2010 to March 1st, 2010. All the Submissions will be judged on their concept, market relevancy, social impact, financial viability and sustainability by our team of students, academics and practitioners. The submitted business plans will also be vetted in the target location to ensure relevancy and feasibility.
