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Contest Helps Train Entrepreneurs
Talented Chinese business college students are showing off their potential at the second Challenge Cup Business Plan Contest.
Candidates, organized in teams, will submit their complete, specific and in-depth business plans to the jury of experts on education, venture investment entrepreneurism.
The annual contest, which kicked off last week and runs until November, encourages students to build their careers from scratch, according to Deng Yong, secretary-general of the All-China Federation of Students.
The business plan contest, first started among students in the United States more than a decade ago, is a result of the soaring development of high technology and venture investment.
A well-written business plan that specifies the market prospect of a product or service is the first step in attracting venture investment, according to experts.
The first such contest in China was held from April to October last year. That contest attracted 162 colleges in 22 provinces and produced 416 business plans, some of which have been implemented.
"Candidates cultivated the spirit of teamwork during the whole process of working out business plans together," Deng said.
To help integrate the contest with real commercial operation, Homeway Information Technology Co Ltd, the sponsor of the contest, will invite some foreign venture investment companies to track the contest, said Zhang Zhifang, chairman of the board of the company.
Registration for this year's contest will be held on a website established by the organizing committee: http://www.e-ventures.com.cn, which will also offer a contest manual and a consulting and training service.
"We hope that cyberspace can help draw more candidates, attract larger audiences and increase the openness of the contest," Deng said.
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