Out
of the Classroom, Into the Market Place:
The School of Management Business Accelerator (SOMBA)
In
its effort to provide quality and significant education to Ateneo
students, the John Gokongwei School of Management launched the School of
Management Business Accelerator (SOMBA) in November 2002. Twenty-one
students divided into five teams enrolled in its pilot course offering in
Summer 2003.
From
‘Idea' to ‘Incorporation'
SOMBA
veers away from the usual classroom type of teaching by taking into
consideration diverse needs of students in their business ventures. It is
a twelve-month program for aspiring student entrepreneurs, taking an
enterprise from "idea" to "incorporation." Enterprises
that are accepted for incubation into the JG-SOMBA include for-profits as
well as non-profits, product-oriented as well as service-offering types of
businesses, commercial ventures as well as R&D-type projects. Designed
as a business incubator facility, the academic component is made up of a
total of 18 credits spread out over an entire year. Students
enrolled in the program receive guidance and business coaching from the
SOMBA staff as they work to take their fledgling business ideas from the
realm of the classroom out into the market place.
The
program is divided into three stages. During the first stage referred to
as Jumpstart, aspiring entrepreneurs apply by submitting a
business brief. The SOMBA Board reviews and selects 12 to 15 teams which
are given a coursework that includes strategic visioning workshops,
detailed action planning, entrepreneurial skills deepening
(self-management, team-building, project mgmt, etc.). After six weeks,
final presentations will be made to the SOMBA Board, and the proposals
with the strongest business prospects will be allowed to move on to the
next stage. Meanwhile, in the second stage called Prototype,
student teams are expected to deliver a working prototype of their
respective products or services. During this stage, action plans finalized
in the Jumpstart phase are carried out and monitored through
incorporation, hiring employees, etc. In the final presentations of the
prototype and revised business plan, the best teams are selected to move
on to the next phase. Lastly, student teams establish a going concern in
the third stage called Takeoff. During this stage, business
development and marketing plans finalized in the first two stages are
carried out and monitored through contract negotiations, raising
additional funds, relocating to a new site, launching in a new market,
etc.
Unique
Incubation Program
What
makes the SOMBA different from other incubation program is the
availability of a network of coaches and business advisors among faculty
member and alumni. The program also provides resource speakers for student
teams almost every week (around five to ten per semester) for generic
topics such as finance and law. Mr. Paul Ambas, Director - SOMBA Program,
emphasizes that the program offers a full value-added team-based
incubation model which is not just a virtual incubator. "[Aside from
that,] the nice thing about this is that when students need professional
help, they don't get charged," Mr. Ambas adds.
Aside
from the network of coaches and advisors, the program also boasts of a
network of funding sources which consists of "angel" investors,
corporate sponsors, and development institutions like the Small Business
Guarantee and Finance Corporation.
In
addition to intellectual and financial support, student teams are provided
office spaces and equipment. Currently, the JGSOM provides all the teams
with the following: work cubicles and personal storage areas; conference
rooms; PABX with direct lines per company; internet connections; metered
photocopier; networked laser printer; shared fax machine;
Centralized Accounting PC with licensed accounting software; secure mail
drop facility; and miscellaneous equipment such as water dispenser, coffee
machine, refrigerator, microwave oven
Come
graduation time, student teams can avail of a six-month privilege to
continue having the School of Management as their working base. SOMBA
continues to provide for the student teams until they are stable.
SOM
Tykes to Business Tycoons
The
following include the first batch of successful student business ventures
under the SOMBA program for S.Y. 2003 - 2004:
Tropical
Kiss, Incorporated
The
company's main objective is to offer Philippine island fruit designed for
the fast-paced urban lifestyle on an international level. We want to boost
portability, shelf life, versatility, and all-around convenience to the
way fruit is being enjoyed today without sacrificing natural taste.
Pressure consumption of fruit out of the fear of spoilage or over-ripening
will become a thing of the past. Through us, more members of the
population who live far from the equator will soon be able to take a juicy
mouthful of the tropical exotic where ever they want, whenever they want.
Graffiti
Drive Incorporated
Caritella
is a brand that focuses on materials that cater to the hobby of
scrap-booking or the creative sorting of memories through pictures and
other memoirs. These items such as punchers, pens, and paper primarily 
will be essentially artistic and acid free. The latter quality is vital if
one wishes to maintain the quality of the pictures that are used.
Caritella designs will be refreshed as often as possible to compete with
imported brands. Manufacturing will be done locally to allow for
competitive prices and innovative designs. These items will be distributed
through scrap-booking-themed stores and other novelty stores. Aside from
this form of distribution, the business will also use direct marketing as
it will be offering services such as digital CD option and the like.
Pixel
Point Interactive
Pixel
Point Interactive is a 3D animation company offering architectural
visualizations. Pixel point Interactive targets a niche market of
architects and interior design professionals, who base their operations in
the Greater Metro Manila Area. The market looks for high-quality 3D
rendering at a competitive price. The company offers this high quality 3D
rendering to create realistic images of architectural and interior designs
of a building or a structure. Clients appreciate the design better for its
realistic 3D image. On the other hand, architects project a
"professional" image to their clients.
Mirrus
Advanced Nutrition
Mirrus
Advanced Nutrition is a company in the sports nutrition industry that
formulates and manufactures products that contain Whey protein along with
other nutritional substances to be used for sports/health 
supplements. In
order to ensure top-grade quality for our products, all of our raw
materials will be imported from the United States, which as of June 2003,
is still the number one producer of Whey protein in the world. In time,
our company plans to expand beyond our current product into Creatine,
Glutamine, and other similar products that go in line with our main
business of providing supplements. While our products will initially be
sold locally, we are eyeing export to other Asian countries within 3-5
years after formal operations have begun.
The
Grapplers Shop
The
Grapplers shop is the first Philippine company to go into the business of
importing and retailing well-known brands of mixed martial arts gears from
Brazil and the US. Currently, the company's main mode of selling is
through direct marketing, by advertising through a website and then
personally visiting the different gyms in Metro Manila. The company has
recently finalized an agreement with the owner of the upcoming MMA store,
K1, who has agreed to carry the company's products under a consignment
basis. The store will open before the end of October.
--oo0oo--
SOMBA
facilities were blessed by Fr. Luis Candelaria, SJ last 12 March 2004. Fr.
Candelaria is also a Senior Faculty member of the John Gokongwei School of
Management – Department of Leadership and Strategy.
For
more information about the program, you may call 426 6001 local 5520 or
log on to www.jgsomba.com.