YDC Entrepreneurs' Challenge 2008

Showcasing Hong Kong Entrepreneurial Talents

The Young Entrepreneurs Development Council ("YDC") announced the winners of YDC Entrepreneurs' Challenge (E-Challenge) 2008 Business Plan Competition during the Award Presentation Ceremony held on 20 June 2008 at InterContinental Hong Kong. This year's Champion is 'Vminer More than Financial Analyst' by the team Vminer whose members come from The Chinese University of Hong Kong. The 1st runner up goes to 'SPEC' by the team Go Ahead whose members come from The University of Hong Kong. The 2nd runner up goes to 'Boliance Study Abroad Website' by the team Boliance whose members come from The Hong Kong University of Science and Technology & 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.

"Vminer Inc." plans to provide 40 million mainland retail stock investors with service that gives instant advice based on artificial intelligence and data mining. They mine and analyze real-time, textual news-feeds to give investors buy and sell recommendations.

'SPEC' offers highly customized, detachable and fashionable spectacles to anyone who has a young soul in pursuit of self-expressions, personal identity and latest fashion trend. 'SPEC' will turn a pair of glasses into a self-made decoration.

In 2007, over 140,000 Chinese students went abroad. The 12% fast-growing rate predicts 10,000,000 potential applicants in the next ten years. 'Boliance Study Abroad Website' offers an online community where Chinese students receive timely, reliable and comprehensive information from senior overseas students.

Mr. Roger Marshall, Head Judge of YDC E-Challenge 2008 and Managing Director of Persimmon Capital Ltd. concluded from this year's competition and final submissions. "The head line numbers in 2008 were encouraging. After a dip last year, we continued the growth of numbers of teams and participators to a record." Facing the quality business plans of the contestants, Mr. Marshall said, "The judges did not find it easy to decide the winners and I think the selection process took longer than it has ever taken before." Besides, Mr. Marshall assured that there will be business plan competition in 2009 and the enthusiasm and application of all the participants will be as great as ever.

Mr. Li Ji Yi, Deputy Director General, Youth Department, LOCPG, was invited to give a speech on the event. Mr. Li was impressed and said the E-Challenge competition is encouraging as it is a platform for students to show their talent and creativity which is in common with the National Challenge Cup Competition held in mainland China bi-annually.

Information on YDC E-Challenge
This is the ninth year of the competition to be held for post-secondary students in Hong Kong. This year, around 280 teams with nearly 1200 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, forty-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 2008, 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 and Hong Kong Venture Capital and Private Equity Association (HKVCA), 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.