5 students join CDA-NMC Business Plan Competition

Five students from Northern Mariana College competed for the 2016 NMC Business Plan Competition as part of the month-long celebration of the Commonwealth Development Authority’s 30th anniversary.

The students presented their business plan before the judges at the Pedro P. Tenorio Multi-Purpose Center last Friday.

Among those who presented was Reyel Mar Clata Quezon who proposed “Mannge Finadene.” According to Quezon, Mannge Finadene is a business with the aim of promoting culture and tradition by creating and making available a new dipping sauce from the Marianas.

Another business was “The Taste Restaurant and Catering” which was presented by Marie Luise Del Carmen, aiming to offer local dishes and a variety of other cuisines from around the world. Del Carmen said one thing that would make The Taste different is that they will implement the “pay a meal” concept, wherein customers can pay a meal forward for anyone that could not afford it.

Student Simon Jed Necesito proposed a Saipan-based textbook rental company that offers students an option to rent textbooks at an affordable price called “SS Books” and aims to provide an alternative for education in the CNMI as well the rest of Micronesia.

Alexandra C. Villagomez presented her business plan for “Kinse Minutos Oil Change and Service” which will provide some auto services and preventive maintenance including oil change in 15 minutes.

According to NMC Business Development chair Chavel Green, they chose the Top 5 students from the business plans submitted by the students as their final exit project for their business class.

To make sure that plans are feasible in the CNMI, the students conduct surveys first.

“They have to do surveys and based on surveys, we give them the green light to go ahead with the business plan,” Green said.

NMC acting president David Attao who also attended the event was impressed by the students, adding that these activities stimulate ideas for locals to create their own businesses.

“The students are still pursuing their baccalaureate degrees and yet they have very visionary minds and actually put their ideas based on real situations in the CNMI,” Attao said, “There are thousands of foreign-based businesses here and there are very limited U.S-origin or CNMI-based businesses.”

“We are very thankful for CDA for the partnership,” he added.

According to CDA executive director Manny Sablan, they want to hold the competition on an annual basis, that’s why they have the perpetual trophy where the name of the student and their proposed company will be engraved.

There will also be a $1,000 scholarship given to the winner.

“We would like to continue to focus on training our youth in business development,” Sablan said.

The winner of the competition will be announced during CDA’s anniversary luncheon on March 31.