Beijing, China June 27, 2006 Maryland Secretary of State Mary D. Kane, leading a state higher education delegation in China, today announced the 20 semi-finalists of the second annual China Business Plan Competition, sponsored by the University of Marylands Robert H. Smith School of Business. The competition, themed Building Leaders for the Digital Economy, offers a $25,000 grand prize, $15,000 second prize and $10,000 third prize to entrepreneurs with information-, communication- or technology-related businesses. The Smith Schools Dingman Center for Entrepreneurship annually hosts the China Business Plan Competition in support of the growth of world-class business ideas and business leaders in China.
Kane made the announcement at Zhongguancun Wangjing Science Park in Beijing a stop on the delegations tour, which included meetings with senior officials from the China Ministry of Education aimed at strengthening cooperation between Chinese and state educational institutions. Kane also announced that the Maryland Department of Business and Economic Development (DBED) has partnered with the Smith School for this years competition. Present at the announcement to welcome the delegation and assist in naming the semi-finalists were senior Chinese officials including Mr. Xia Yingqi, deputy director, the People's Government of Beijing Municipality Administrative Committee of Zhongguancun Science Park and Mr. Shi Dinghuan, counselor of the state council and former secretary-general of the Ministry of Science and Technology of the Peoples Republic of China.
Economic development goes hand in hand with education and I am pleased to be leading this delegation as we explore tremendous opportunities for educational partnerships with China, said Maryland Secretary of State Mary D. Kane. Efforts such as the Smith Schools China Business Plan Competition showcase how education plays a major role in Chinas developing economy and how future projects could potentially unite resources from both Maryland and Chinas government, business and educational sectors.
This years semi-finalists were chosen nearly 150 submitted executive summaries. The semi-finalist teams will develop full 15- to 25-page business plans by August 1, and on Aug. 28, five finalists will be selected to participate in a final round competition at the China World Hotel in Beijing on Sept. 13. The final round event will feature a panel of venture capitalist (VC) judges, networking between the VC and entrepreneur communities, a keynote address and panel discussion.
Entrepreneurship, globalization and the integration of business and technology are key areas of focus for the Smith School, which offers its leading Executive MBA programs in Beijing and Shanghai. Smiths business management programs in China, like the China Business Plan Competition, are built around the Building Leaders for the Digital Economy theme.
The Smith School remains firmly committed to increasing educational opportunities in the China market and to creating initiatives that support the growth of world-class business ideas and leaders for the digital economy, said Howard Frank, dean of the Robert H. Smith School of Business. The China Business Plan Competition is a great vehicle for fostering the ideas and talent emerging from China and I look forward to attending the final event and seeing our semi finalists compete for the grand prize.
In addition to the State of Marylands Department of Business and Economic Development, sponsors for the Smith Schools 2006 China Business Plan Competition include: ING Investment Management Asia/Pacific, New York Mercantile Exchange (NYMEX), Zhongguancun Wangjing Science Park, The Hina Group, iSoftStone Information Service Corp., Wilmer Cutler Pickering Hale and Dorr LLP, ChinaCast, Opus8, Zernike Group, ZERO2ipo, Dow Jones, Economic Observer, Discovering Value, Maryland Center China and Maryland China Business Council.
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.
About the 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. One of 13 colleges and schools at the University of Maryland, College Park, the Smith School 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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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. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and flex MBA, executive MBA, online MBA, business master’s, 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 North America and Asia.