YDC Entrepreneurs' Challenge 2009

Showcasing Hong Kong Entrepreneurial Talents

The Young Entrepreneurs Development Council ("YDC") announced the winners of YDC Entrepreneurs' Challenge (E-Challenge) 2009 Business Plan Competition during the Award Presentation Ceremony held on 18 June 2009 at InterContinental Hong Kong. This year's Champion is Tech4Enviro - a GPS Robotic Water Analyzer whose members come from The Hong Kong University of Science and Technology. The 1st runner up goes to ORIF, by the team Lighten, whose members come from The University of Hong Kong. The 2nd runner up goes to Icariin, by the team ReBone, 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.

The team Tech4Enviro has developed a radical new process, backed up by proprietary technology, for monitoring and analyzing water quality at a fraction of previous prices. Arguably this is also more efficient than existing methods.

ORIF's Organic Light Emitting Diode (OLED) technology has existed as a far more efficient and environmentally effective light source for some time.

ReBone is a healthcare product that will be sold through conventional healthcare outlets to potential sufferers of "Bone Death", induced by Steroid use, at a considerably reduced price.

The Hon. Mrs. Sophie Leung, Chairperson of YDC, is excited about the competition. "YDC has an aim to lead the youngsters to realize their full potential and grow in a sense of self-discipline. With alarming statistics on the increasing use of drugs by teenagers in Hong Kong, we trust that education is even more vital, equipping youngsters with the knowledge and skills to resist peer pressure to experiment with drugs, alcohol and tobacco." Mrs. Leung encouraged young people to build up their critical thinking skills, which enables them to make the right choices in life.

Mr. Roger Marshall, Head Judge of YDC E-Challenge 2009 and Managing Director of Persimmon Capital Ltd. concluded from this year's competition and final submissions: "We are still not appealing enough to students of non-business, non-practical disciplines". He said he would like to find a way of bringing a broader participation to the Hong Kong student body.

Information on YDC E-Challenge

This is the tenth year of the competition to be held for post-secondary students in Hong Kong. This year, around 220 teams, with over 800 students from the nine local universities and Hong Kong Institute of Vocational Education, joined the competition.

The competition divided into three phases. Based on written executive summaries submitted, thirty-eight potential business proposals were selected to enter the Semi-final Round. The selected teams were required to submit an investment proposition teaser and a 5-minute DVD presentation to the panel of semi-final judges. Then the Top 8 teams were selected to go into the final round.

We have introduced the new "Open" style final judging stage for the competition. This proposed methodology enables students to pitch their business ideas in front of a large audience. Our judges will give feedback to the teams during the Q&A session on how their business plans can be improved and further developed.

Four training workshops were offered to all students who entered the competition this year, with the aim of preparing them for their submissions. Meanwhile, the top eight teams also benefited from the Mentorship Program. The Mentorship Program, offered by successful entrepreneurs from the 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 runners up will receive $20,000 and $15,000 respectively. All the semi-finalist teams will receive certificates. The winning team will also have the opportunity to join overseas business plan competitions as contestants and ambassadors representing Hong Kong.