Bangkok--9 Feb--SET
66 teams from 21 countries on 6 continents competing under the theme “Seed of Success for Sustainable Future”
Professor Toemsakdi Krishnamra, Director of Sasin, announced that Sasin Graduate Institute of Business Administration of Chulalongkorn University in cooperation with the Market for Alternative Investment (mai) will hold the mai Bangkok Business Challenge? @ Sasin 2011 February 24-26, 2011. Master’s degree students of leading universities worldwide compete for H.M. The King’s Award and a prize of over 800,000 baht. Young entrepreneurs submit business plans seeking joint investment. The competition is supported by major sponsors comprising The Stock Exchange of Thailand (SET), Kiatnakin Bank Co., Ltd. and Money Channel.
In this 9th year of competition, the theme is “Seed of Success for Sustainable Future.” Master’s degree students are encouraged to transform into young entrepreneurs displaying creativity and socially responsibility.
A total of 66 business plans from 55 world class universities located in 21 countries were submitted.
Of these, 16 teams from 12 countries are eligible for the semi-final round: 4 teams from Thailand (Thammasat University, AIT, CMMU and Sasin), 2 teams from China, and one each from India, Taiwan, Indonesia, South Korea, Germany, France, Australia, United States of America, Canada and Argentina.
Each year, the business plan competition becomes more intense. The quality of the business plans increases as representation from participating institutions widens. This year the business plans must feature “innovative business for sustainability”—or be environmentally friendly. In this unstable economic environment, creativity, practical knowledge and clear business planning are the key factors to success. Business administration students enjoy this opportunity to prove their capability in a practical way. Feedback from the judges who are successful business people from various fields is another bonus for all students in the competition.
Mr. Chanitr Chanchainarong, President of Market for Alternative Investment (mai) says “the mai Bangkok Business Challenge?@ Sasin 2011 is in line with mai’s mission to give significance to and support strong entrepreneurs. Good business plans lead to sustainable businesses. A good business plan is a passport for business opportunity. Having good plans will help firms find capital sources, including venture partners or banks and leads to fundraising on mai, an alternative market supporting the growing business of new entrepreneurs.”
“This year, the mai Bangkok Business Challenge? @Sasin 2011 competition is very challenging as competitors will have to present business plans to be implemented under economic uncertainty. The number of participating team numbers increased from 12 teams in the first year (2002) to 66 teams in this 9th year. Competitors must combine academic knowledge with business ideas, presenting a plan that is strong, including robust corporate governance and social responsibility to suit this year’s theme “Seed of Success for Sustainable Future.” Meanwhile, mai would love to see the business plans presented really come to fruition, with real joint-ventures carried out. This is the real objective of this project. mai, therefore, has invited executives from listed firms to listen to the final round of the business plan competition.”
Mr. Chet Pattrakornkul, Independent Director, Member of the Audit Committee, Member of the Nomination and Remuneration Committee and Chairman of the Compliance and Good Governance Committee for Kiatnakin Bank Public Company Limited, said Kiatnakin Bank was proud to participate actively in creating new entrepreneurs for the business sector through its continued support for this premier English business plan competition from 1992 until now as part of its corporate social responsibility (CSR) policy “People Development for National Development with Kiatnakin Project.”
Kiatnakin Bank aims to enable new entrepreneurs to improve their business planning because a good socially responsible business plan serves not only as the gateway to funding from responsible financial institutions, it forces entrepreneurs to anticipate risks and how to cope with them effectively and efficiently. The bank also regards this as a great opportunity for all contestants to practice important skills such as presentation, product exhibition, and client motivation, before entering the real business world. In addition, the exchange of experience among contestants from different countries and cultures is treasured as another valuable outcome of this competition.
The mai Bangkok Business Challenge? @ Sasin 2011 will be held from February 24-26. Interested persons are invited to attend free of charge. For further information about attendance at the competition and seminar, please contact 0-2218-4001-8 ext. 209 and 210 or www.bbc.in.th