TEAM FlexiSound from the Philippines presents its business model featuring user-friendly soundproofing materials at the 2007-2008 HSBC Regional Young Entrepreneur Awards held in Hong Kong. From left: Katrina Gracia Macaraig, Menard Dacono and Klaire Aldyn King.

ATENEO STUDENTS MAY HAVE FAILED TO BAG HSBC TOP PRIZE BUT THEY REMAIN HOPEFUL OF SUCCESS

EVEN if Ateneo de Manila University fresh graduates Katrina Gracia Macaraig, Menard Dacono and Klaire Aldyn King did not bring home the “Best of the Best” accolade of the 2007-2008 HSBC Young Entrepreneur Regional Awards, the group, which carries the team name FlexiSound, will make a go of its business plan and aims to make it big not only here but also abroad.

Flexisound earned its entry into the regional bid after bagging the gold award in the Philippines’ HSBC Young Entrepreneur Awards in March for a business plan that zeroes in on user-friendly and cost-effective soundproofing material.

The team, together with its counterparts in Bangladesh, Brunei, Hong Kong, Malaysia, Thailand and Vietnam, vied for the Best of the Best and Best Presentation Awards, both of which were won by the group from Thailand. The competition was held in Hong Kong on June 16.

“It was a good experience for me. The challenge now is how to perfect our plan and address the concerns that were raised by the panel of judges,” says 20-year-old Macaraig, a graduate of BS Management.

King, a graduate of the same course with a minor in enterprise development, reveals the plan of finding more investors to raise funds to support the business.

“Unlike any other existing soundproofing material, our product called FlexiSound comes in liquid form, which can be easily applied to contoured and irregularly shaped walls and columns and be combined with a wide range of finishings to create a diverse range of options,” she explains.

Dacono, the last member of the team, says they plan to offer the product initially to the country’s five biggest real-estate developers, such as Ayala Land, SM Development and Empire East, for application in their midmarket projects.

“Our company projects a return of investment of more than 30 percent with a modest initial 3-percent market penetration rate. Long-term growth is excellent, not just in the Philippines, but especially when we begin to introduce this superior acoustic application to the rest of the region,” he narrates in an interview.

Sandy Flockhart, chief executive of HSBC Ltd. and chairman of the judging panel, expressed his appreciation to all the participants.

“I hope all of them will be encouraged by having gone this far. One day, I’d like to see them succeed in the business that they have chosen,” he says in an interview.

The HSBC Young Entrepreneur Regional Awards is a business plan writing competition for post-secondary students. The program is designed to provide young people with an opportunity to demonstrate their creativity and acquire a wide range of practical business skills.

First launched in Hong Kong in 2000, the competition has now expanded to six Asian countries, including Bangladesh, Brunei, Malaysia, the Philippines, Thailand and Vietnam. More than 14,000 students have since joined in the competition with more than 5,300 innovative ideas presented.

 HSBC Ltd. vice president for external affairs Virgina Lo says Taiwan will be joining the competition beginning next year.

Headquartered in London, HSBC is one of the largest banking and financial services organizations in the world. Its international network comprises over 10,000 offices in 83 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa.

Best of the best

EVEN if Ateneo de Manila University fresh graduates Katrina Gracia Macaraig, Menard Dacono and Klaire Aldyn King did not bring home the “Best of the Best” accolade of the 2007-2008 HSBC Young Entrepreneur Regional Awards, the group, which carries the team name FlexiSound, will make a go of its business plan and aims to make it big not only here but also abroad.

Winning: Another view of executive compensation

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CTO BOB IANNUCCI on the ‘deep future’ of NOKIA

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Winning: A moment in the sun for European business

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INSIDE HAITI

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Health fund helps poor manage emergency health situations

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Do your stars see a reason to stay?

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SUPPLY CHAIN: SUBSIDIES AND THE CHINA PRICE

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Father & Son & Co.: The Claudios

Roberto Claudio Sr. and Roberto “Toby” Claudio Jr. are more than just father and son. They are also partners in business.

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Father & Son & Co.: The Uys

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Winning: Worldwide leadership

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As carriers fight in the skies, Pinoy OFWs suffer on earth

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Use role-play to drive front-line change

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