CHINESE ENTREPRENEURS WIN US$45,000
TO HELP BUILD THEIR BUSINESS EMPIRES

Beijing, China – September 23, 2005 — Three emerging entrepreneurs just moved a step closer to being business titans of tomorrow. The University of Maryland’s Robert H. Smith School of Business, a leading provider of Executive MBA programs in China, today announced the final winners of the Robert H. Smith School of Business China Business Plan Competition, a three-part contest in which entrepreneurs presented their business ideas to compete for a total of US$45,000 in prizes. After several rounds of presentations and questioning by a panel of international venture capital judges, the following were declared the winners:

1. US$25,000 grand prize winner – Renjing Tu, ShenZhen QianRenRen Science and Technology Development Co., Ltd.
2. US$15,000 second prize winner – Lufa Kang, K68.cn
3. US$5,000 third prize winner – Yajia Lv, Aquascape

The Smith School sponsors the competition in China to help showcase and encourage the development of entrepreneurship and world-class business ideas. Entrepreneurship, globalization and the integration of business and technology are key areas of focus for the Smith School, which offers Executive MBA programs in Beijing and Shanghai.

“Congratulations and job well done to the winners and all of the participants,” said Asher Epstein, managing director of the Smith School’s Dingman Center for Entrepreneurship.

“The Smith School is committed to sharing its leadership in building entrepreneurship as a vital cornerstone of the global, digital economy and we look forward to continuing the success of this year’s competition with the next Smith School China Business Plan Competition in 2006,” said Howard Frank, dean of the Robert H. Smith School of Business.

During the final-round competition the 10 finalists delivered 10-minute presentations as well as participated in a final feedback session with judges that included representatives from Mahon China Investment Management Limited, China Equity, Siemens China Investments and Intel Capital. The contest was open to teams of two to four individuals with business plans that supported a China-based business model. In earlier stages of the competition the playing field had been narrowed from approximately 50, to 20 and then the 10 finalists.

“Not only was this an opportunity for the competitors to win the start-up funds needed to get their ideas off the ground, but it was also a chance to have the real-life experience of presenting those ideas to a live VC audience and getting feedback. That might actually be the greatest prize the contest offered and one the finalists will benefit from long after the competition is over,” said Tien Wong, CEO of Opus8 and a judge as well as the keynote at the competition. “I commend the Smith School for creating a vehicle that concurrently showcases and helps nurture Chinese business ideas and talent. It’s a wonderful example of the leadership role the school has taken in bringing its experience in building leaders for the digital economy to China.”

The next Robert. H. Smith School of Business China Business Plan Competition will be held in July 2006 with a call for submissions to go out in winter 2005.

The Smith School in China
The Smith 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 in China. A unique partnership with ChinaCast Communications Holdings allows the Smith School to offer executive programs well beyond China’s largest cities via satellite technology. For more information about the Smith School’s China programs, visit: http://www.rhsmith-umd.cn

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About the University of Maryland's Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader in management education and research for the digital economy. The Smith School – one of 13 colleges and schools at the University of Maryland, College Park – offers undergraduate, full-time and part-time MBA, executive MBA, PhD, and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in four continents including North America, Europe, Africa and Asia. More information about the Robert H. Smith School of Business can be found at www.rhsmith.umd.edu.

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