Friday, March 2, 2007

HSBC announces Vietnam young entrepreneurs contest

HSBC announces Vietnam young entrepreneurs contest



Banking group HSBC has instituted an award for young entrepreneurs in Vietnam to identify business acumen among youths.

Teams of not more than three full-time students aged 25 or below from universities and vocational institutions are eligible to enter the competition for the HSBC Young Entrepreneur Awards.

The contest will comprise three rounds in which participating teams must submit their business plans to develop a product, service, or something else to fill a market need, create value or income, increase sales, or reduce costs.

In May, the ten finalists will make presentations in English to a jury.

The jury for the first two rounds will comprise of HSBC executives and senior executives from the bank’s business partners.

In the final round, the panel will consist of representatives from the Young Entrepreneur Association and Thanh Nien newspaper.

The winning team will get a self-development fund of VND30 million (US$1,880) and compete with other gold medal winners in a regional finals in Hong Kong in June. The winner stands to win HK$100,000 ($12,800)

The contest has been organized in Hong Kong and other Asian countries since 2000.

Announcing all these details at a press conference Tuesday, Alain Cany, general director of HSBC Vietnam, said the contest would cultivate youths’ interest in entrepreneurship, especially in the context of the emerging opportunities in the wake of Vietnam’s recent WTO entry.

Reported by My Quyen – Translated by Tuong Nhi

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