College Park, Md. September 11, 2007 - The University of Maryland's Robert H. Smith School of Business, a leading provider of Executive MBA programs in China, awarded the final winners of the Smith School's third annual China Business Plan Competition. The three winning teams were announced Sept. 10 at the culmination of the yearlong competition, which began with more than 200 entries. G. Anandalingam, senior associate dean of the University of Maryland's Robert H. Smith School of Business, named the winners at an awards ceremony at the TsingHua Innovation Plaza in Beijing.
The winners are:
- $25,000 grand-prize winner ZaraCom Technologies Inc.: provides patent-pending artificial intelligence technology for network design, optimization, and management to wireless carriers.
- $15,000 second-prize winner Nantronics: the first Chinese semiconductor flash memory company that designs and develops low-cost and high-performance non-volatile memory integrated circuits and related devices.
- $10,000 third-prize winner XBRL-enabled Business Reporting for China Market: a software company developing XBRL-enabled application technologies for companies listing on China's three stock exchanges.
Business leaders today need the ability to adapt quickly to changing market forces, and to constantly innovate and improvise and the winning teams announced today exhibit these entrepreneurial traits, Anandalingam said. We are pleased to support the development of world-class business ideas in China and advance the development of China's future business leaders through the Smith Schools annual China Business Plan Competition. I offer my congratulations to this years winners and participants.
The winners were selected from five finalist teams which were invited to compete in the final round of the competition, which the Smith School holds each year as part of its commitment to the growth of world-class business ideas and innovation in China. Entrepreneurship, globalization and the integration of business and technology are key areas of focus for the Smith School.
With China's rapid rise up the G7 list of nations, and attention growing toward the next phase of expansion from within this economic heavyweight, the emergence of a talented group of entrepreneurs is well-timed. Their contribution to China's economic growth is already evident, and this competition is very valuable in nurturing yet more entrepreneurship, said Chris Ryan, CEO of ING Investment Management Asia/Pacific, and a long-term supporter of the business plan competition.
This competition gives entrepreneurs in China a unique opportunity to develop their business ideas and get valuable feedback from venture capitalists and business leaders, said Lucy Zhang, director of Asia marketing for the New York Mercantile Exchange and a judge in this years event. It helps to foster and develop the entrepreneurial skills needed to succeed in China's rapidly growing economy.
The Smith Schools third annual China Business Plan Competition is supported by Zhongguancun Science Park. Sponsors for the competition include: CCTV-Win in China, the State of Maryland's Department of Business and Economic Development, the 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, the China Venture Capital Association, PEMarket, Microsoft China Co. Ltd., QQ.com, The Wall Street Journal Chinese Online Edition, Discovering Value, China Entrepreneur and BusinessWeek/China.
The Smith School in China
The Smith School is partnered with the University of International Business and Economics to deliver its executive MBA and other executive programs in China. These programs are part of the schools commitment to help China meet a critical need for MBA graduates and world-class business leadership.