The HSBC Young Entrepreneur Awards 2009-10

Answers : This programme offers you an excellent opportunity to exercise your imagination and to learn entrepreneurial skills in a fun and exciting way. You will acquire practical knowledge through a series of training programmes hosted by practitioners from different industries. You may also be able to meet some of the most successful and influential people in the business world.

2. Do I need to specify which award I would like to compete for in the HSBC Young Entrepreneur Awards?

Answers : No. It is not necessary to specify which award you want to compete for as judges will be able to select the best team for each award based on the judging criteria specified in the competition.

3. Can I participate in the Eco-Business Innovation Award only?

Answers : No. Once your business plan has been entered into this competition, it will be considered for all awards including the Eco-Business Innovation Award.

4. If my business idea does not generate any environmental benefits, will my chance of winning the Gold Award be compromised?

Answers : No. The Gold, Silver and Bronze Awards will be judged on three major criteria – creativity, commercial viability and communication skills, regardless of the business plan’s environmental impact.

5. Can my team be the winner of a Gold, Silver or Bronze Award, and the Eco-Business Innovation Award?

Answers : Yes. If your business proposal can fulfil the criteria of innovation and commercial viability as well as generate environmental benefits, your team will have a chance of winning a Gold, Silver or Bronze Award, and also the Eco-Business Innovation Award.

6. Are there any financial or geographical restrictions on my business proposal?

Answers : The business you propose can cost as much as you like but you must demonstrate that it is commercially feasible, ie it can generate enough revenue to cover the cost. There are no geographical limits – your proposed business can take place anywhere in the world.

7. What is a value proposition?

Answers : A value proposition is a statement depicting the essence and unique feature of the whole business idea. It could be one explaining how a product or service makes a difference to the current way of doing business or one describing the quantifiable benefits a product or service brings about.

8. Is there any cost to enter the competition?

Answers : There is no cost to enter. However, all participants will have to bear their own out-of-pocket expenses in preparing for the competition.

9. Is it necessary to be nominated by my university/college before submitting my entry?

Answers : There is no need for a nomination.

10. Apart from undergraduates attending full-time degree courses, can students attending associate degree/diploma/certificate courses enter the competition?

Answers : Yes. All full-time post-secondary students (aged 25 or below as of 30 April 2010) from local universities, colleges or institutes of vocational education etc are eligible to enter the competition. However, they must compete in teams of two or three members either from the same school or from different schools.

11. I have participated in the HSBC Young Entrepreneur Awards in the past; am I eligible to participate again this year?

Answers : Yes certainly, as long as you can still fulfil the participation criteria.

12. Can I submit my entry via fax or mail?

Answers : No. We only accept online submissions through the official website of this competition: www.asiayea.com.

13. Can I submit my business idea as an attachment to my completed online application form?

Answers : No. Your business idea must be typed in the space provided within the online registration form.

14. Can I attach any charts or diagrams on the online application form?

Answers : An image file no larger than 500KB containing materials related to your team’s business idea will be accepted.

15. How do I know you have accepted my submission?

Answers : After you have submitted your entry online at the official website, you will immediately receive via email an online acknowledgment of receipt with your Team Name, Project Title and a registration number listed.

16. Can I change team members or the contents of my business plan after submission?

Answers : No. Once you have submitted your idea, no changes to its contents or to the team composition will be accepted. You are therefore advised to preview your online submission carefully to make sure that you have completed the registration form correctly.

17. If a team member withdraws during the competition, will the team be allowed to continue with the competition?

Answers : Yes. As long as the team still consists of more than one member, the team is eligible to compete. If the team wishes to replace the team member by another student, a written request with sound reasons and justifications must be submitted to the Organising Committee of the Awards. Replacement of a team member will require the Organising Committee's approval and written consent.

18. Can I submit more than one business idea, or participate in more than one team?

Answers : No. A participant cannot be a member of more than one team. Each team is allowed to submit one proposal only.

19. I am an exchange/international student here in Hong Kong. Am I eligible to participate in the award?

Answers : Yes certainly, as long as you can fulfil the awards’ entry requirements.

20. Is it mandatory to attend the training workshops arranged by the organiser? Will I be disqualified if I cannot attend all or any of them?

Answers : No, it is not compulsory for you to attend the training workshops and you will not be disqualified for not attending any of them. However, you might miss a lot of useful information like business plan format, judging criteria and presentation techniques. So it is recommended that at least one team member should be present.

21. The rules specify that HSBC shall own the copyrights of all entries submitted. Can I make use of my own business ideas after the competition?

Answers : HSBC, as the organiser, needs to have the copyrights of your entries for publicity purposes. You are free to make use of your own business ideas in whatever way you like.

22. What should I do if I or my team members cannot attend the Hong Kong Final or Regional Grand Final due to unforeseen reasons such as illness?

Answers : Unless the whole team withdraws, other team members are allowed to continue with the competition. If the team wishes to replace a team member with another student, a written request with sound reasons and justifications must be submitted to the Organising Committee. Replacing a team member will require written consent from the Organising Committee.

23. What should I do if my team cannot represent my own country or territory to compete at the Regional Competition?

Answers : In the event that the Gold Award winning team cannot attend the Regional Competition, the Silver Award winners (first runner-up) will be eligible to compete. If the Silver team fails to compete at the Regional Competition, the Bronze Award winners (second runner-up) will be eligible to compete.

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The HSBC Young Entrepreneur Awards 2009-10