Dear Colleagues:
I am delighted to announce the results of the Inaugural Hong Kong University of Science and Technology 2006 International Business Plan Competition.
The contest and related activities were held over 4 days in May at the state of the art HKUST campus in Hong Kong. The top 10 teams were selected from more than 60 applications and began the event with a mixer and coaching sessions. The teams then participated in the Trade Show, Elevator Pitch Competition, Semi-final and Final rounds before an amazing panel of top Hong Kong Executives and Venture Capitalists.
It was a wonderful learning experience for everyone involved, and we look forward to tracking the teams' continued success. Please see the contest winners and their proposal summaries below. The HKUST contest capped off an exciting year where we were honored to host graduate student entrepreneurs from around the world and also have HKUST MBA students compete successfully at 4 US competitions (Wake Forest, University of San Francisco, University of Oregon, and University of Texas, Austin Moot Corp).
Please consider having your graduate students participate in the HKUST 2007 International business plan competition. www.ChinaEntrepreneurship.org.
Best,
Mark Cannice
Chair, HKUST International Business Plan Competition
2006 HKUST International Business Plan Competition
Contest Teams, Universities, and Proposal Summaries
Duke University - Cytex Pharmaceuticals - Grand Champion (US $10,000 prize) and Elevator Pitch Contest Winner (US $1000 prize)
HKUST - TrueArt - (Second place winner) $3000 prize
Waterloo University - Nanodrivers - (Finalist) $2000 prize
National University of Singapore - MyCar - (Finalist) $2000 prize
University of San Francisco - BioSole - (Sustainable business award and semi-finalist) $1500
London School of Economics, Dartmouth, IM Kumasi - WOSPRO - (Social venture award and semi-finalist) $1500
Univ Western Ontario - Easy Bridge Consulting - (Team spirit award and semi-finalist) $1500
Peking University -Clickrich - (Microsoft Technology Pioneer Award and semi-finalist) $1000
Stanford University - Learning Friends - (semi-finalist) $1000
UC Berkeley - China Insight - (semi-finalist) $1000
BioSole - <st1:place w:st="on"><st1:placetype w:st="on">University</st1:placetype> of <st1:placename w:st="on">San Francisco</st1:placename></st1:place> (US)
BioSole revolutionizes business, realizing fiscal profits by perpetuating social and environmental benefits, through the conversion of waste and feedstocks into a profitable diesel substitute to supplant conventional diesel use in ports and other diesel hotspots around the globe.
<st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region> Insight - UC Berkeley (US)
China Insight is a startup focused on revolutionizing consumer market research in <st1:place w:st="on"><st1:country-region w:st="on">China</st1:country-region></st1:place>, by providing high-quality insights at a low cost. The core solution is a SMS-based platform that enables surveys to be executed quickly on a large scale, and analyses to be run on results instantaneously.
Clickrich - <st1:placename w:st="on">Peking</st1:placename> <st1:placetype w:st="on">University</st1:placetype> (<st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region>)
Clickrich provides online rich media service to bid companies intending to use internet for promotions using combined animation, video and sound with interactive features. Our primary market is <st1:place w:st="on"><st1:country-region w:st="on">China</st1:country-region></st1:place> whose online ads size is $325 MM with an annual growth rate of 20%. Our sales will be $6mm, 20mm, 37mm, 40mm and 45 mm, respectively from year 1 to year 5
Cytex Therapeutics - <st1:place w:st="on"><st1:placename w:st="on">Duke</st1:placename> <st1:placetype w:st="on">University</st1:placetype></st1:place> (US)
Cytex Therapeutics has developed a method for regrowing hip cartilage from adipose stem cells derived from a patient. Our device is intended for resurfacing the entire hip joint in young patients with end-stage arthritis.
Easy Bridge Consulting <st1:placetype w:st="on">University</st1:placetype> of <st1:placename w:st="on">Western Ontairo</st1:placename> (<st1:country-region w:st="on"><st1:place w:st="on">Canada</st1:place></st1:country-region>)
Easy Bridge Consulting is a new firm which provides consulting services of market entry strategies for small-to-medium-sized businesses. It adopts an unconventional business model to connect the overseas expansion needs of small-to-medium-sized businesses in <st1:country-region w:st="on">China</st1:country-region> and <st1:place w:st="on">North America</st1:place> with the extensive and diversified expertise of top business school students.
Learning Friends - <st1:place w:st="on"><st1:placename w:st="on">Stanford</st1:placename> <st1:placetype w:st="on">University</st1:placetype></st1:place> (US)
The Learning Friends company offers immersive online learning of English as a Second Language (ESL), tailored for the educational market in <st1:place w:st="on"><st1:country-region w:st="on">China</st1:country-region></st1:place>. Our mission is to foster complete English literacy, including reading, writing and speaking skills, through games that are as entertaining as they are educational.
MyCar - <st1:placename w:st="on">National</st1:placename> <st1:placetype w:st="on">University</st1:placetype> of <st1:country-region w:st="on">Singapore</st1:country-region> (<st1:place w:st="on"><st1:country-region w:st="on">Singapore</st1:country-region></st1:place>)
MyCar is a private car rental scheme, using 100% electric cars. It seeks to address the market need in <st1:country-region w:st="on">Singapore</st1:country-region> for cheap personal transportation by providing cars at S$ 3 per hour, as private car ownership is very expensive creating psychological frustration in <st1:country-region w:st="on"><st1:place w:st="on">Singapore</st1:place></st1:country-region> residents. Environment friendly, Socially responsible.
Nanodrivers - <st1:placetype w:st="on">University</st1:placetype> of <st1:placename w:st="on">Waterloo</st1:placename> (<st1:place w:st="on"><st1:country-region w:st="on">Canada</st1:country-region></st1:place>)
Nanodrivers Inc. is a spin-off from the <st1:place w:st="on"><st1:placetype w:st="on">University</st1:placetype> of <st1:placename w:st="on">Waterloo</st1:placename></st1:place> with a vision to become the global leader in providing solutions that enable future display technologies. Its current focus is to become a prime licensor that will enable display manufacturers to bring stable and long-life Active Matrix Organic Light Emitting Diode (AM-OLED) displays into the market.
<st1:placename w:st="on">TrueArt</st1:placename> <st1:placename w:st="on">Hong Kong</st1:placename> <st1:placetype w:st="on">University</st1:placetype> of Science and Technology (<st1:place w:st="on"><st1:country-region w:st="on">China</st1:country-region></st1:place>)
TrueArt is the premier developer of true-to-life digital artwork software that enables users to create the look and feel of real natural art. TrueArt has a current working prototype product that accurately simulates the physics of brush strokes from the real world to the computer screen. The copyrighted software, under license from HKUST, will be the core and first product of TrueArt in a series of true-to-life art products and services.
WOSPRO - <st1:place w:st="on"><st1:placename w:st="on">Dartmouth</st1:placename> <st1:placetype w:st="on">College</st1:placetype></st1:place> (US),
<st1:placename w:st="on">London</st1:placename> <st1:placetype w:st="on">School</st1:placetype> of Economics (<st1:country-region w:st="on"><st1:place w:st="on">UK</st1:place></st1:country-region>),
<st1:placetype w:st="on">Institute</st1:placetype> of <st1:placename w:st="on">Marketing</st1:placename> <st1:city w:st="on">Kumasi</st1:city> (<st1:country-region w:st="on"><st1:place w:st="on">Ghana</st1:place></st1:country-region>)
WOSPRO aims to introduce a multi-concept business design that will cater to all major expectation trends in <st1:place w:st="on">Europe</st1:place>s massively expanding organic industry: ethical/sustainable production, eco- conservation, health integrity and extensive information beyond conventional labeling. At the heart of this synergy is MUREMDS, proposed as the worlds first, web-enabled, client-interface portal, facilitating TOTAL customer interactivity with the agro-industrial process.
Mark V. Cannice, Ph.D.
Associate Professor of Entrepreneurship
Executive Director, USF Entrepreneurship Program
University of San Francisco (cannice@usfca.edu) -------------------------------------------------------------------
Adjunct Associate Professor
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