Each year, all Year 10 IGCSE Business Studies students are tasked with planning and preparing for the Dragons' Den competition. Each team must prepare a 5 minute presentation about a unique business idea. The aim is to pitch their idea to a business person and convince them to invest in their product. This competition provides our students with the opportunity to develop key soft skills required to set up and run an effective business in the 21st century. Each team considered all aspects of setting up a business from creating an interesting and viable business idea, determining their target market, pricing strategies and financial forecasts. After making it through the classroom rounds, the six best teams moved on to the final competition where the winning team was crowned.
This year’s finalists included Aquabott, Essence, In Case of Emergency, Seek Saigon, Locker Docker and U & Yaby. Products varied from a locker organiser to bath bombs and a useful app!
A panel of 3 judges were invited to this year’s competition:
- Chelsea Pattison, Marketing Officer, British International School, Ho Chi Minh City
- Matthew Martin, Chief Information Officer, Asia Commercial Bank
- Loan Tran, Entrepreneur, Truck and homeinsaigon
All three judges have business experience and were very excited about participating in this process. They watched the presentations and asked probing, challenging questions about different aspects of their pitch including the figures in their cash flow forecasts and their approach to market research. They also provided advice about what students should consider moving forward with ‘their business’.
The winning team, U & Yaby, impressed the judges with the fact that their products are already being sold at stalls around Saigon and online. U & Yaby sells reusable bags and plush toys. Their motto is ‘Safe, Sustainable + Simple’ and the business encourages customers to use environmentally friendly bags.
Our congratulations go to Yaya Huang, Ryan Sia and Myeong Seong Kim, founders of the winning team U & Yaby!
Cathy Tang Hales, Economics Teacher