"Showcasing Hong Kong Entrepreneurial Talents"

The Young Entrepreneurs Development Council ("YDC") announced the winners of YDC Entrepreneurs' Challenge (E-Challenge) 2007 Business Plan Competition during the Award Presentation Ceremony held on 30 June 2007. This year's Champion is ADverywhere by the team CUBICSix whose members come from The University of Hong Kong. The 1st runner up goes to PickPack by the team Usure whose members come from The Hong Kong University of Science and Technology. The 2nd runner up goes to Apex Biosystem Ltd, a team whose members come from The Chinese University of Hong Kong. Hong Kong Science and Technology Parks Corporation sponsored the cash prize of the Champion, and Hong Kong Business Intermediary Co. Ltd sponsored the cash prize of the First Runner-up.

"ADverywhere" is an innovative advertising company providing instant and animated video advertisements on Smart Displays on top of taxis in Hong Kong. Its Smart Displays offer attractive animation and video capability, which can be clearly seen. And through application of 3G network and the Global Positioning System (GPS), advertisements can be shown instantaneously on taxi tops at the target area. "Pick-Pack" is an eco-bag distribution and recycling system which provides the clients a green, economical, innovative and fashionable advertising channel. This brand new idea will be able to satisfy both profit earning and environmental protection. "Apex Biosystem Ltd." makes uses of the innovative breakthrough, improves on current systems, lowering the sensors' cost and tripling their sensitivity. The team plans to help doctors and researchers achieve more accurate results in testing a wide range of viruses.

Mr. Roger Marshall, Head Judge of YDC E-Challenge 2007 and Managing Director of Persimmon Capital Ltd. concluded from this year's competition and final submissions. "The quality of the final plans that were presented was a palpable improvement on what we have seen in the past. So it seems that we are achieving our objectives. Two of the winning teams this year are 1st year undergraduates, by the confidence and polish of their presentation, I think that you will admit that we may be entering a new era in our universities."

Mr. Li Ji Yi, Deputy Director General, Youth Department, LOCPG, was invited to give a speech on the event. "Tomorrow is the 10th Anniversary of the establishment of the Hong Kong Special Administrative Region (HKSAR), I hope all Hong Kong young people could be creative, willing to practice, willing to dedicate and be responsible, so that our Pearl of Orient could be shine forever."

The Hon. Mrs. Sophie Leung, Chairperson of YDC, is excited about the competition. She said, "The quality of this year is improving a lot, most of them are innovative and workable. I hope young people of Hong Kong can learn how to direct their idea to opportunity."

Information on YDC E-Challenge
This is the eighth year of the competition to be held for post-secondary students in Hong Kong. This year, around 190 teams with nearly 800 students from the eight local universities and Hong Kong and Hong Kong Institute of Vocational Education joined the competition.

The competition divided into three phases. Based on the written executive summary submitted, thirty five potential business proposals were selected to enter the Semi-final Round. The selected teams were required to submit investment proposition teaser and a VCD/DVD of 5-minute presentation to the panel of semi-final judges. Then Top 10 teams were selected to go into the final round. Mr. Roger T. Marshall, Head Judge of YDC E-Challenge 2007, and Managing Director of Persimmon Capital Ltd., heading a panel comprising five prominent business leaders, selected the three winning teams after their Presentation and Oral Defense.

Four training workshops were offered to all students who entered the competition this year, preparing them for their submission. Meanwhile, the top ten teams also benefited from the Mentorship Program. The Mentorship Program, offered by successful entrepreneurs from the Young Entrepreneurs' Organization (YEO) Hong Kong Chapter, helped the teams to develop their professional business plan.

The champion team will share a cash prize of $30,000, and the 1st and 2nd runner up will receive $20,000 and $15,000 respectively. All the semi-finalist teams will receive cash coupons. The winning team will also have the opportunity to join overseas business plan competitions as contestant and ambassador representing Hong Kong.