London Business School Business Plan Competition 2010 Winner
WorldRemit (now WorldRemit Ltd) has won the prestigious London Business School business plan competition. One of six finalists who presented business plans at the 12th entrepreneurship conference on 7 May 2010, WorldRemit was awarded this year's prize. London Business School was ranked number one in this year's Financial Times global rankings of business schools.
Ismail Ahmed, CEO and founder of WorldRemit, said, "We are delighted to have won this competition. It is a fantastic accolade for our business and our team".
The business plans submitted needed to be original ideas or substantial improvements on existing business models. WorldRemit is transforming the way migrants send money home. Traditionally the only means of sending money to most parts of Africa has been to physically visit an agent location and handover cash and identity documents.
With WorldRemit's money transfer service a sender only needs to register on the website, and after their identity is validated, they will be able to send money online without needing to visit an agent. They will also be able to send money directly to the mobile phone accounts of recipients in increasing number of countries where mobile money transfer is available.
Keynote speakers at the entrepreneurship conference included James Caan, one of the UK's most successful and dynamic entrepreneur, and Lord Mervyn Davies, at the time Minister of Trade, Investment, and Small Business.