Bangladesh team won the HSBC Young Entrepreneur Regional Awards 2007 in their debut entry in this year’s competition held in Hong Kong. In the award competition, the team presented a busines idea to develop a new solution for manufacturing firms and plants to manage, monitor and minimize their production waste which will be utilized by industrial waste management company.
The win also means they displaced other 5 nations including Hong Kong, Malaysia, Philippines, Thailand and Vietnam. The panel of judges include HSBC Global Co-Head Commercial Banking General Manager, Hong Kong Exchanges and Clearing Limited Chairman, and few other hot shot figures in the corporate world.
The HSBC Young Entrepreneur Awards (YEA) is a business plan writing competition that invites talented college, university and tertiary students to showcase their creativity and business acumen. The award is an open competition and exclusively for Malaysian undergraduates, which pay attention to new, creative and unexplored business ideas. Launched in Malaysia in 2001, it was previously named HSBC Young IT Entrepreneur Award. The competition also provides the students with practical business knowledge on how to start writing their own business plan, and execute the plan accordingly.
The HSBC Young Entrepreneur Award is divided into few rounds of assessment and short listing process. In the first round, the participating students submit an outline of their proposed innovative business idea. This can be products, services or something that can create values, income, increase of sales or reduction in operational and business cost. It can be a completely new products or services or introduction of new, modified and better ways of business operation, production or service. A panel in the Advisory Committee team will evaluate and short list 30 of the qualified teams to round 2.
In the round 2, the short listed teams are invited to attend a training workshop on Successful Entrepreneurship and Business Plan Writing. A full business plan write up will be required to be submitted in this workshop for assessment by a panel of judges. Out of the 30 teams, 10 will be selected to go to the next round.
In the round 3, the teams will be invited to attend questions and answers session with the panel of judges where the judges will be asking questions based on the business plan submitted by the contestants. The finalist teams will be selected to present their business plan to the Board of the Judges, where the winner of the national HSBC Young Entrepreneur Awards will be decided.
More details on HSBC Malaysia Young Entrepreneur Awards.