Contest history

In 2006 Entrepreneurship Contest PROFAS was organised for the university students for the first time. Thanks to the enthusiasm of participants, the interest of business experts, well-known economists and the active involvement of journalists and public society, organizers decided to run the Contest permanently.

2007 -2008 year Contest

In 2007-2008 the Contest was for the first time held at the international level. Participants coming from the higher education institutions from the Baltic States were invited to participate in the Contest. The following institutions expressed their wish to participate in the Contest: Vilnius University, Vilnius Gediminas Technical University, ISM business school, International business school under Vilnius university, Vilnius Mykolas Romeris University, Vilnius pedagogical University, Klaipėda University, Šiauliai University, Vytautas Magnus University, Kaunas Technological University, Vilnius Business and Law academy, Stockholm School of Economics in Riga, Tallinn University.

Stages of the Contest

1st stage. During the Ist stage of the Contest 20 semi-finalist teams were selected. The selection task was designated to find new business opportunities for small and medium-sized enterprises (SMEs) in the Baltic States, basing on the best business practice in the European Union. The selected teams were invited to present their solutions of the Ist round task to well known business companies chief managers and professional economists. The event was held in Vilnius on the 23rd of November, 2007.

2nd stage. During the event 12 teams that had a possibility to take part in the final event were selected. During the final event the teams had to deal with a case study analyzing the computerization of educational institutions. Teams had to imitate an IT company and to prepare a tender for open call of united Baltic States Education Ministries committee for renewing computerization systems in schools. Proposals were based both on the financial calculations of the IT project and estimations on social and economic aspects.
Solutions were presented to a professional jury. The best team was awarded a 1.500 Euro prize and a „European“ bycicle established by the European Commission representation in Lithuania. The event was closed with a consultant of TMD Partners Darius Pietaris motivational speech and a furshet.
A united team composed of SSE Riga and Vilniaus University students - Arvydas Žiobakas, Justas Grigalauskas, Aurimas Račas, Vaidotas Grinkevičius, Eglė Mikailaitė, Kristina Černaistė, Jonė Sanikovaitė and Andrius Bulvičius became the winner of the Contest.

Jury members

Head of European Parliament Information Office in Lithuania Daiva Jakaitė
President of Lithuanian Free Market Institute Remigijus Šimašius,
Sales manager at Jsc Hewllet Packard Mantas Memeliškis,
Head of marketing department at daily “Verslo žinios” Aušra Barysienė,
Head of human recourse department at Sc Teo LT Edis Kasperavičius,
Head of European Commission press and information department in Lithuania Jurgis Vilčinskas.

Place: hotel „Europa City“, Vilnius.
Date: 22nd of January, 2008.

Photos from the Contest are available here.

2006 -2007 year Contest

The Contest was organized in Lithuanian universities for the first time in 2006. Participants coming from the Lithuanian higher education institutions - Vilnius University, Vilniaus Gediminas Technical University, ISM business school, Klaipėda University, Šiauliai University, Kaunas Technological University were invited to participate in the Contest.

Stages of the Contest

1st stage. During the Ist stage of the Contest 20 semifinalist teams were selected. Students had to deal with a case study analyzing relevant business problems.
2nd stage. The selected teams were invited to present their solutions of the Ist round task to well known business companies chief managers and professional economists. Four events on the hole were organized 4 events in Vilnius, Kaunas and Klaipėda.

During the final event the selected teams had to analyze three business situations (business problems). First task was related with analyzing risks and opportunities for companies producing products branded with a trading stamp „made in EU“. Students had to estimate the impact of the trading stamp for different business segments from a position of the EU Economic Affairs department. The second task was devoted to the analysis of the specifics of the IT product selling strategy. Teams were asked to prepare a two-year selling strategy designed for business clients working in diverse businesses sectors. The last task provided possibilities to generate ideas for the further development of the most popular business journal in Lithuania „Verslo klasė“. All tasks were provided to the participants 24 hours before the Contest event . Solutions were presented to a professional jury. The winners were awarded with a visit to the European Parliament.
Winners of the Contest - Vilnius Gediminas Technical University Team - Vaidas Chormanskis, Andrius Brazauskas.

Jury members

Member of European Parliament (elected in Lithuania) J. V. Paleckis
President of Lithuanian Free Market Institute Remigijus Šimašius,
Head of sales department at Jsc Hewllet Packard Ainis Kavaliauskas,
Head of marketing department at daily “Verslo žinios” Aušra Barysienė,
Head of human recourse department at Sc Teo LT Edis Kasperavičius,
President of retail chain “Senukai” Augustinas Rakauskas,
Head of legal department at Jsc Ergo Lietuva legal department Augustas Šernius.

Date: 5th of April, 2007.
Place: European Information Centre of Lithuanian Parliament, Gediminas av. 53, Vilnius.

Photos from the Contest are available here.