Emstret Space in partnership with Niunet hosted a Start-Up Challenge recently to identify the need to establish a sustainable and profitable business concept.
The program supported by the PNG/Australia partnership, Steamships Group and Emstret Holdings Ltd highlighted the potential of professional business growth amongst startups.
At the press conference to announce the Start-Up Challenge winner, Emstret Space Chief Executive Officer, Vani Nades said the challenges of operating a business in PNG is a concern.
“Therefore, with the vision behind Emstret Space, creating an inclusive and growth friendly environment for businesses to excel, we believe the Start-Up Challenge is the first for the many years to come in enabling and equipping participants to build a thriving business model,” said Nades.
More than 300 businesses entered the one-month virtual program where 25, were selected to participate and 13 finished off strong in the Start-Up Pitch Finals. These businesses took part in an online course with highly recommended mentors and facilitators to build realistic business models, following the Lean Canvas Model.
Director of Lean Consulting Ltd, Loretta Bele, a professional consultant with medical background was awarded first placing following a successful Pitch Presentation. Finalists Darius Waula of Avator Training Ltd and Moses Salapwi of Northern Sustainable Agriculture Services came up as runner-up’s due to a tie.
The Steamships Group have been in constant dialogue with E-Space and Project & Business Development Manager and judge for the Start-Up Challenge, Alfy Weston, said there are many promising Start-Ups with the potential to grow into successful businesses and was encouraged by the positive social impact that a number would deliver.
CPL Group Chairman, Mahesh Patel, was part of the judging panel assisted the finalists in furthering their journey in the PNG Business Industry.
He said there are many great ideas from the participants and he looks forward to offering support and exchanging dialogue.
Representatives from the PNG/Australia and Exxon-Mobil PNG were also panelists for the challenge. The judging panel decided after much deliberation that all 13 finalists walk away with an advanced understanding of their startups compared to what they had to begin with.