Phoenix 2017 was the first ever finance competition of Pakistan organised by LUMS student society, FINTRA, which proved to be a great success for the university as well as for the participating students. LUMS received a great response from the teams that registered both externally as well as those from within the University and came across many competent young individuals with a lot of potential.
The aim of the competition was to provide a platform for potential think tanks, stir their minds and utilise their ideas in the best way possible. The diligent teams that took part in this competition came from IBA, LSE and other renowned universities from across Pakistan. The winners were rewarded with the cash prizes totaling PKR 60,000.
The competition, spread over three days, encompassed quizzes based on CFA criteria; real trading where one of the teams had a return of more than 100 K which shows a tremendous effort by the team and elevator pitch presentations that were based on given case studies. The criteria of these segments was to demonstrate the understanding of the cases, provide an analysis of the situations and practically apply their trading knowledge as well as their financial skills.
The judges, evaluating the case studies, were all renowned personalities who currently hold prominent positions in their careers. They asked the participants challenging questions regarding the financial and operational aspects of the business plans they had proposed in the elevator pitch. With such a critical assessment, only the top few teams were able to proceed to the next level. After two days of critical assessment along with a test of their capabilities, they were invited to a recreational social night for the candidates.
The social event consisted of a performance by Ali Sethi, an up-coming singer. On the last day, the results were officially announced and the cash prizes were distributed. Team Alpha Bravo were the first prize laureates winning PKR 30,000 followed by Team Big Short from IBA who won PKR 20,000 and PKR 10,000 was awarded to Team Finance Fighters from LUMS.
The event was a holistic team effort, planned with the aim to broaden the horizons of aspiring startups, organised with the generous contribution of its sponsors, Summit Bank and PIA.