Competition details

Local competition

Round One: Initial proposal

Participating teams are required to submit an outline of an innovative business idea that could lead to the creation of a successful business. This can be a new product or service that fulfils a market niche or an enhancement of an existing product or service that has the potential to create value, increase sales or reduce costs. It may be an entirely new idea or it can focus on a new way of doing things.

Business ideas that have incorporated environmental considerations will be eligible to compete for the Eco-Business Innovation Award. Environmental considerations include, but are not limited to, reduction of adverse environmental impact, commitment to sustainable growth and protection of finite resources.

The deadline for submissions is 10 November 2009. Proposals should be limited to 1,000 words (including a value proposition of no more than 25 words) in English. Submissions will be screened by the Advisory Committee and up to 50 teams will be selected for the next round.

Round Two: Complete business plan

Qualified teams will be invited to attend a business plan writing workshop in December 2009. Participation is not mandatory but is highly recommended. Each participant will be awarded a certificate.

Teams will then have to submit a complete business plan (maximum 10 A4 pages, excluding appendices such as charts, tables, diagrams and spreadsheets) for assessment by a panel of judges. The deadline for submissions is mid-January 2010.

Finalist teams for the Eco-Business Innovation Award will be selected at this stage.

Round Three: Panel interview

Qualified teams will be invited to meet a panel of judges in March 2010 to answer questions related to their business proposal. For the benefit of the Round Three teams, mentors (entrepreneurs and industry practitioners) will be assigned to each of the teams to provide guidance and support.

The three teams selected for the Hong Kong final will be invited to attend a presentation skills workshop in March 2010.

Final assessment for Eco-Business Innovation Award

Finalists for the Eco-Business Innovation Award will be invited to attend a presentation skills workshop before attending the final assessment interview.

Finalists will meet a panel of judges for final assessment in April 2010. Shortlisted teams will prepare a 10-minute presentation followed by a 5-minute Q&A session to explain the environmentally-friendly elements of their business plans. The Eco-Business Innovation Award winning team will be selected after the presentations, and a formal announcement will be made at the awards presentation ceremony in mid-April 2010.

Hong Kong Final

The three finalist teams will be given 12 minutes each to make a formal presentation in front of a panel of judges, followed by a Q&A session, in April 2010. Winners of the Gold, Silver and Bronze Awards will be selected and formally announced at the awards presentation ceremony on the same day.

Regional competition

The Gold Award winning team from Hong Kong will compete with the Gold Award winning teams from local competitions held in other participating Asian countries and territories for the Best of the Best, Diamond and Jade awards in June 2010 in Malaysia.

Each team will present their business plan in English to a panel of judges.

Winners of Gold, Silver, Bronze and Eco-Business Innovation Awards in local competitions will be invited on a one-week entrepreneurial tour in Malaysia which immediately follows the regional competition.