For the 1st time ever, Queen’s University in Canada is extending their arms to local Malaysian universities and youth groups to participate in the world’s largest undergraduate business plan/ entrepreneurship competition.
This is part of the GEW Youth Catalyst’s efforts to bring the ‘Local – Global’ by extending international opportunities for local graduates to compete in internationally acclaimed business competitions.
Notable highlights of the competition includes its first attempt of inviting at least a submission from Malaysia to join into the competition, with teams bidding to raise funds from as much as Canadian $15,000 to jump start their enterprises. Whats even more interesting was the fact that the entries will be judged by some of the ‘Celebrity- Entrepreneur’ judges who have judged in reality shows – ‘Dragon’s Den’ and ‘Shark Tank’, both are prominent reality shows about Venture Capitalist and Entrepreneurship.
A smart partnership was formed between Queen’s University’s Entrepreneur Competition organisers with the Global Entrepreneurship Week (GEW) Youth Catalyst in Malaysia – Youth Entrepreneurs Malaysia.
According to fellow Co-Founder, Michael Teoh, he hopes that this pilot run for the Queen’s Entrepreneur Competition can add yet another ‘International’ element to the range of business competitions which are already available in Malaysia for students to join. He was even more impressed with the university’s network of getting high networth entrepreneurs like the ones in Dragon’s Den and Shark Tank, to appear as fellow investors.
‘It was surprising to me that no Malaysian teams have ever entered this international competition, yet they have received participations from our neighbouring countries but not Malaysia. Awareness was certainly not that,’ said Michael.
QEC is an amazing event that provides priceless opportunities for young entrepreneurs. Not only do participants have the chance to receive significant cash prizes to jumpstart their ventures ($15,000 for first place, $6,000 for second, $2,000 for third and two $1,000 innovation prizes), but the finalists also have the chance to network with Canada’s leading business professionals; past judges include Clide Beddoe (CEO and founder of Westjet), Tim Wilson (President of Visa Canada), David Blanchard (Chairman of Unilever Canada), Chris J.B. Clark (CEO of PricewaterhouseCoopers Canada), Brett Wilson (Dragons Den), and many others.
There is also more information on the website — www.theqec.com —!!!!
What is Queen’s Entrepreneur Competition?
Now in its 22nd year, the Queen’s Entrepreneurs’ Competition brings together some of the brightest young entrepreneurs from around the world to compete for $25,000 in cash prizes and the opportunity to appear on CBC’s Dragons’ Den. Participants also have the chance to network with Canada’s leading business professionals. Furthermore, QEC prides itself on the incredible judge to competitor ratio of 3:4– a tremendous networking opportunity and ratio of almost one competitor to one judge.
Past speakers include Bryan Pearson (President of Air Miles Canada), Brett Wilson (Dragon on CBC’s the Dragons’ Den) and Clive Beddoe (Founder of Westjet Airlines). The sixteen teams who make it past the preliminary business plan grading will have the opportunity to network with these amazing individuals and receive feedback about their business plans.
o Competitors must be undergraduate students and can be from any faculty or program.
o Existing proposals are valid and qualify for consideration provided the plan has not qualified as a finalist in a previous QEC competition.
o Each team entered must be a maximum of four students and one faculty advisor.
o Entrants may involve the help of other students to produce parts of their plan. These students do not have to be registered members of the group.
o Business plans must be received electronically by November 4th, 2009
Format Requirements for Business Plans:
o Plans must be a maximum of 50 pages consisting of a maximum of 35 pages of written material and 15 pages of exhibits.
o Business plans are to be submitted via email. If students have an issue with this, they should make alternative arrangements with the University Coordinators at least two weeks prior to the submission deadline.
o Business plans and appendices must be contained in one file and in a format that is ready to print. Files can be in MS Word, PDF, etc., but cannot exceed 5mb in size.
o Documents must be named as the title of the business plan.
o All business plans must be written in English.
o All entries must be typed with 1.5 spacing (double spaced is also acceptable).
o Margins must be a minimum of one inch, and font must be a minimum of 10pt.
o Candidates’ last names and schools must not be included on any pages of the business plan.
o All business plans submitted to the competition must include the “Preliminary Round Cover Sheet” as the first page of the business plan. This form is available from the University Coordinators.
Deadline and Important Date
Applicants must submit their written business plans to Yuwen Huang at [email protected] by November 4th. The 16 teams who received the highest scores on their written business plan will be notified by mid December (2009) and will be invited to attend the final competition round held at Queen’s University from January 21st to 23rd. The top 16 teams will make a 25-minute presentation to a panel of industry experts; past judges have included Tim Wilson (President of Visa Canada), Grant Rassmussen (President and CEO of UBS Bank Canada), Brett Wilson (Dragons’ Den), John Sleeman (CEO of Sleeman Breweries) and many others.
There are no delegate fees for our final competition; all fees including meals, evening socials and our final gala are covered through sponsorship. However, delegates must pay for their accommodation and transportation to Kingston. Delegates can also stay with their friends in order to avoid accommodation fees.
Anyone who is interested to participate, please go to www.theqec.com
The committee from Canada and Youth Entrepreneurs Malaysia do realise that the dateline is tight (On 4th November), however, this is a trial run in Malaysia and all university groups who have already compiled or competed with their business plans in local competitions are encouraged to use the same materials and apply.
All the best to all the teams!
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