John Mather Trust Rising Star Award

Issued: Mon, 24 Jun 2013 15:17:00 BST

The Adam Smith Business School is pleased to announce the John Mather Trust Rising Star Award of £10,000 has been awarded to student Ying (Olivia) Feng for her ICAN business proposal, an interactive and entertaining method of delivering financial management education to a 16+ age group.

The Rising Star Award is designed to identify and support Rising Stars and promote innovation that will benefit socio-economic wellbeing of the greater Strathclyde area of the West of Scotland.

A panel made up of experts drawn from the Adam Smith Business School Advisory Board and the Trust judged the proposals and selected the finalist.  The panel, convened by Professor Robbie Paton, Director of Graduate studies, included Professor Farhad Noorbakhsh, Head of Adam Smith Business School; Mrs Margaret Milner, Director of Undergraduate Studies, Adam Smith Business School; Mr Afzal Mahmood, PricewaterhouseCoopers LLP; former Adam Smith Business School MBA student Mr Alec Pearson; Ms Lynsey Rowney, representing Wright, Johnson & Mackenzie; and Mr John Mason, MSP from the Trust.

Olivia was then awarded £10,000 to progress with her proposal which must be done within 18 months of the award.  

An overview of the business plan created by Olivia entitled ‘ICAN’ is detailed below: -

• ICAN aims to stimulate interest in money management and building financial capability - that will alleviate potential debt. ICAN acts as a financial decision making aid to help users make better decisions regarding the usage of the credit cards, loans, pension plans and other financial commitments.
• ICAN primarily targets users from the 16+ age group, especially those who are going to or currently attending Universities / Colleges in the UK. A large number of students in this age group are currently taking student loans and have at least one credit card. They also face a depressed graduate job market.
• ICAN is a UK based, online virtual environment featuring isometric 2.5D graphics designed specifically to provide personal financial management education to students through simulated financial scenarios and games. ICAN allows users to create and personalise character profiles and participate in various fun activities.
• ICAN is based on the belief that financial literacy education should start at early age and should be taken seriously which empowers people to take control of their financial life and freedom. ICAN believes that by cultivating a healthy attitude towards money, we can encourage a positive work ethic in our younger members of society.

Professor Robbie Paton, Director of Graduate Studies commented: “Olivia’s business concept is based builds upon her Doctoral research, dealing as it does with issues relating to the psychology of financial engagements, however, the business itself will be driven through interactive virtual learning environments. The panel was impressed with Olivia’s drive, business acumen and the potential of her ideas. We wish her luck.”

The John Mather Charitable Trust honours the memory of John Mather who rose from office boy to Chairman of the Clyde Port Authority and had strong links with the Business Schools and the Arts in the West of Scotland.

The competition was open to all Postgraduate students at the Business School who have been permanent residents of the Strathclyde area for at least five years.