Beijing, China August 8, 2007 - The University of Maryland's Robert H. Smith School of Business today announced the 20 semifinalists of the schools 2007 China Business Plan Competition. The competition will award winners with more than $50,000 in cash and prizes, including a $25,000 grand prize, $15,000 second prize and $10,000 third prize. The Smith School's Dingman Center for Entrepreneurship hosts the China Business Plan Competition, now in its third year, in support of the growth of world-class business ideas and business leaders in China. Entrepreneurship is a key area of focus for the Smith School, which offers its leading Executive MBA programs in Beijing and Shanghai.
My congratulations to the semifinalists, said Howard Frank, dean of the Robert H. Smith School of Business. Each year I am impressed by the number and quality of entries, and this year is no exception.
Submissions this year demonstrate that Chinese entrepreneurs have their thumb on the pulse of the global economy. Ideas focused on several growing categories including mobility services, clean tech and social networking, said Asher Epstein, managing director of the Dingman Center for Entrepreneurship at the Smith School. In particular we noticed entrepreneurs addressing local trends within the Chinese economy with business concepts highlighting pollution management, recycling and energy efficiency.
This years semifinalists were chosen from approximately 200 submitted executive summaries. Teams will develop full 15- to 25-page business plans by Aug. 17, and on Aug. 28, five will be selected to participate in a final round competition and awards ceremony at the Innovation Plaza within TsingHua Science Park in Beijing on Sept. 10. In addition to $50,000 in cash prizes, the top three winning teams will be awarded with entrepreneurship training sessions that will include a custom workshop from the Dingman Center, and full-year subscriptions to BusinessWeek China. This years final round competition will be co-hosted by Zhongguancun Science Park, China's leading technology development zone located in Beijing and a main competition sponsor.
Sponsors for the third annual China Business Plan Competition include: CCTV-Win in China, Zhongguancun Science Park, State of Maryland Department of Business and Economic Development, New York Mercantile Exchange (NYMEX), ING Investment Management Asia/Pacific, Opus8, Wang Jing Science Park, Sinoway Investment Corporation, Emerging Technology Partners LLC, Zero2IPO, China Growth Capital, China Venture Capital Association, Microsoft China Co. Ltd., The Wall Street Journal Chinese Online Edition, Discovering Value, China Entrepreneurs and BusinessWeek China.
The Smith School in China
The Smith School is partnered with the University of International Business and Economics to deliver its top-ranked programs in China. The school is helping China meet a critical need for MBA graduates and world-class business leadership by delivering its leading Executive MBA programs in Beijing and Shanghai, as well as through its successful custom executive programs. For more information about the Smith Schools China programs, visit: www.rhsmith-umd.cn.