Future entrepreneurs turn ideas into opportunities

Entrepreneurship does not always begin with a big business idea. Sometimes, it starts with a familiar product, a local resource, or a simple question: Can this be turned into something people would value?

For Far Eastern University (FEU) Tams, these questions took on a practical meaning during the Entrepreneurial Symposium at the FEUture Center Auditorium last Oct. 5. Organized by the Institute of Tourism and Hospitality Management (ITHM), the symposium carried the theme “Mind Y.O.U.R Business: Young Innovators, Opportunities, Understanding, and Responsibility.”

The event encouraged students to look at entrepreneurship beyond classroom concepts and consider how ideas can respond to real opportunities, particularly within the local setting.

One of the symposium's key lessons was that innovation does not always require looking far beyond one's own community.

Emmanuel Reyes, founder of Papa Kape and a former educator turned R&D chef, shared his experience in building a business around Philippine coffee and local farmers.

His story offered students a different way of looking at entrepreneurship: sometimes, a business idea can grow from the personal and familiar. Local products and traditions can become part of a business while the owners also create opportunities for the communities connected to them.

For Tams preparing for careers in tourism and hospitality, this perspective is especially relevant. Food, culture, and local products are closely connected to the experiences that these industries offer.

The discussion then moved from coffee to another familiar Philippine resource: carabao's milk.

Eric Jan Buenaflor, managing partner and gelato chef of Karabella Dairy, showed students how carabao's milk can be transformed into artisanal gelato.

His experience demonstrated how entrepreneurs can look at existing local resources differently. Rather than simply asking what a product already is, entrepreneurs can also ask what else it could become and how it could be presented to consumers.

For students developing their own business ideas, this provides a practical reminder that innovation can sometimes begin with resources that are already available.

Having a good product or concept is only one part of building a business. Understanding whether the venture can actually operate is equally important.

Vercie D. Dumlao, an Institute of Accounts, Business and Finance faculty member and former senior audit associate at SGV & Co., brought students' attention to the financial side of entrepreneurship.

His discussion covered budgeting, financial reporting, and financial analysis. These areas may not be as visible as product development or marketing, but they play an important role in determining how a business manages its resources.

For aspiring entrepreneurs, the lesson is straightforward: creativity can help generate an idea, but financial knowledge helps an entrepreneur understand what it will take to sustain that idea.

The symposium also comes at an important point for ITHM students as they prepare for this year’s TamBLitz, the “annual sales blitz, product defense, and entrepreneurial exhibition.”

The upcoming activity gives students an opportunity to move from discussing business concepts to developing their own products, services, and business ideas. The lessons from the symposium can help them think more carefully about their customers, resources, operations, and finances as they work on their projects.

The event also reflects FEU's connection to the United Nations Sustainable Development Goals (SDGs 4, 8, 9, 12, and 17), particularly in its emphasis on learning, innovation, responsible production, and collaboration.

For Tams, entrepreneurship is therefore not only about coming up with a business idea or earning a profit. It is also about recognizing opportunities, making thoughtful use of available resources, and understanding how a business can create value.

From a cup of Philippine coffee to a scoop of carabao's milk gelato, the examples shared during the symposium showed students that business ideas can begin in places they already know. The next challenge is turning those ideas into a venture that can work beyond the classroom.