Bangkok--2 Feb--SET
Market for Alternative Investment (mai) and Chulalongkorn University’s Sasin Graduate Institute of Business Administration (Sasin) are co-hosting the ‘mai Bangkok Business Challenge @ Sasin 2007” to encourage innovative thinking among young people. Sixteen from an original 52 teams, including 31 from overseas, progressed through the highly competitive qualifying round.
Sasin has co-hosted the event, which is an English-language business plan contest since 2002. First prize will be awarded by His Majesty the King, Sasin Director Professor Toemsakdi Krishnamra said.
Under his majesty’s patronage, the competition has gained increased domestic and international recognition. This, its fifth year, coincided with Sasin’s twenty-fifth anniversary and saw a record number of participants. Thirty-one international teams came from China, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines and Singapore.
mai, co-hosting the event for the first time is very pleased to support business innovation by young people, and will assist anyone wishing to turn their business plan into a reality. The market can help small and medium sized firms to be more competitive by providing advice on matters such as fundraising, mai’s advisory committee Chairman Mr. Vichate Tantiwanich said.
mai Bangkok Business Challenge @ Sasin 2007’s theme is “Break Out”, encouraging innovative business plans and ideas which are “outside the box”, an approach which is consistent with mai’s vision. Business plans competing cover the biotech, pharmaceutical, food, software and cosmetics industries, all of which mai has a particular interest in encouraging.
Eight of the sixteen semi-finalists are from Thailand, with qualification being based on: succinctness, business opportunity, uniqueness, management team and investment potential.
Some of the business plans are already in operation, e.g. ‘Herb Club’ from Sasin, ‘Alife’ from Prince of Songkla University, and ‘N-Slash Solution’ from Asian Institute of Technology. And there are some still to be launched, e.g. ‘Ntech’ project from Bangkok University, ‘PharmaSilk’ from Sasin, and ‘AquaSiam’ from Mahidol University.
This year’s event is supported by The Stock Exchange of Thailand Foundation and Kiatnakin Bank PCL.
The contest is open to graduate students in business administration from local and overseas institutions. The competition’s themes reflect global changes in business, with this year’s emphasizing open opportunity for new businesses, business expansion as well as acquisition.
Prizes total over THB 800,000 (approx. USD 22,000). The winning team will receive their award from His Majesty, together with a certificate and USD 10,000, while their home institution will receive USD 2,500. Other awards are runner-up, consolation prizes, 99-second pitch winner, best business plan, best presentation and best venture exhibit.
The semi-final will be held on March 1 — 3, 2007, at Sasapatasala Building, Sasin Graduate Institute of Business Administration, Chulalongkorn University. After the 16 qualifiers present their business plans to the judges, the finalists will be announced.