Participation at the final of the Entrepreneurship Competition Vilnius

On March 5-8, 2014, based on their outstanding results in the two previous qualifying rounds, the team Synergy had the opportunity to participate in the final round of the Entrepreneurship Competition Vilnius organized by the University of Vilnius, Lithuania, Faculty of Economics. Team members were Albert Gáspár, Ábrán Csilla, Kovács Anita and Német Hunor, all junior members of the GTK – Business Consulting Club.

Qualifications to the final round took place in several stages. In the first phase the teams had to prepare a short video to present their motivation to participate in this competition. This was followed by the development of a business plan for a given product: this year a revolutionary bicycle accessory, Rubbee.

The 9 finalists had to compete in two rounds for the final victory. First they used an online simulation game, in which they had to develop a marketing strategy for a company producing beverages. Players had to make decisions about new products introduction, market segmentation, optimal pricing, R&D. The final objective of the game was to earn a higher profit then the competitors. The second part of the competition consisted of solving a case study in 4 hours regarding a telecommunications company in Nepal.

In addition to competing with each other, participants had the opportunity to visit the city and get acquainted with members of other teams, representing universities from Slovakia, France, Finland, Hungary, Azerbaijan and Lithuania.

Team Synergy has achieved the 3rd place in the simulation game and 7th on the case study presentation, at the end