The eleventh National Student Business Plan Competition is now underway – testing the flair and entrepreneurship of students preparing for a career in community pharmacy
The Pharmacy Guild of Australia’s 2017 competition was launched on Saturday during the Annual NAPSA Congress in Perth.
Team member of the 2016 winning entry, Surbhi Patel from University of Auckland, launched the competition by detailing her experience to her fellow students.
“I found the competition to be an invaluable experience which has set a good foundation for beginning my career as a community pharmacist, the experience made me think differently about the day to day operations of a pharmacy, especially as pharmacy management is such a small part of our curriculum,” Ms Patel says.
The Guild has also announced that Sanofi Consumer Healthcare is the new principal sponsor of the competition in 2017.
Simon Morriss, Head of Sales, says: “Like the Guild, Sanofi Consumer Healthcare is dedicated to developing new leaders in pharmacy and empowering these leaders with the skills, information and professional networks needed to be leaders in the primary health care system – we are proud to be part of this exciting initiative.”
The competition aims to encourage student teams to use their talents and energy to create innovative new business ideas in community pharmacy through the development of competitive business plans.
The competition booklet was circulated at the launch and the timeline for the competition is below:
Stage Component Due Date
One Submit your Business Plan 12 May 2017
Two Quarter Finals 29 June – 7 July 2017
Three Semi Finals (including preliminary pitch) 24 July – 11 August 2017
Four Finals: Live ‘Pitch’ 2 September 2017
Five Finals: Post ‘Pitch’ Investor Meeting 2 September 2017
The competition, which commenced in 2006, encourages innovation among pharmacy students who will be the future owners of Australian and New Zealand community pharmacies.
In 2017 the focus on innovation will continue, to ensure that tomorrow’s owners look for highly differentiated services that they can provide to the Australian and New Zealand markets.
The National Student Business Plan Competition is open to all students studying pharmacy in Australia and New Zealand and will provide a total of $15,000 in cash prizes to the finalists (top three teams) in addition to registration, flights and accommodation to attend the Guild’s 2017 Pharmacy Connect conference.
The competition is an initiative of the Pharmacy Guild of Australia and is sponsored by Sanofi Consumer Healthcare (principal sponsor), EBOS (major sponsor) with continued sponsorship from foundation sponsors Gold Cross Products and Services and Pharmaceutical Defence Limited (PDL). The Pharmacy Guild of New Zealand is proud to support the competition, now in its third Trans-Tasman year.