Competition Invites China Entrepreneurs to Win Cash Prizes Worth US$50,000!

Beijing, China and College Park, Md. – May 14, 2008 - The University of Maryland’s Robert H. Smith School of Business today announced the launch the 2008 China Business Plan Competition – Go for the Gold!, a contest delivered in partnership with the New York Mercantile Exchange (NYMEX). The competition, now in its fourth year, is supported by Fidelity Asia Ventures and invites China entrepreneurs to win cash prizes totaling US$50,000. Entrants are invited to submit their business ideas through July 1 via the Smith School China Web site.

Smith's Senior Associate Dean G. Anandalingam made the announcement at the University of International Business and Economics (UIBE), Smith's university partner in China. Participants will vie to present their business plans before an international panel of venture capital experts during a final round and awards ceremony that will be supported by Beida University and Zhonguancun Science Park. The competition’s prizes and benefits include:

• $50,000 total in cash prizes. The competition will offer a US$25,000 grand prize and US$15,000 second prize to teams of entrepreneurs with established firms. A young entrepreneur category – new and presented as the Smith School 2008 Young China Entrepreneur Awards – will offer students from Chinese universities the opportunity to win US$1,000 individual cash prizes totaling up to US$10,000 for their business ideas.
• Smith School entrepreneurship series. The Smith School will offer entrepreneurship workshops open to the public in Beijing. Each workshop will be presented by experts and will focus on a critical component necessary in building a viable, world-class business venture.

“We’re very pleased to see the competition enter its fourth successful year and to introduce new opportunities exclusively for university student entrepreneurs,” said Anandalingam. “This fits perfectly with Smith’s commitment to sharing thought leadership, research and programs to make a positive contribution to China’s emerging economy. As we encourage participants to ‘go for the gold’ we recognize, just as China has reached a global ascendancy with the hosting of the Beijing Olympics in 2008, these young individuals are poised to fulfill an expectant promise to the rest of the world as China’s future leaders and innovators.”

“In the development of China’s management education, we find that this young generation displays a stronger spirit of independence and entrepreneurship in regards to economic and social development,” said Zhang Xinmin, dean of the business school at the University of International Business and Economics. “As an active promoter of domestic management education and the Smith School’s partner in China, we support the idea of admitting college students into a global entrepreneurship competition. It will greatly motivate student entrepreneurship while providing a good opportunity for them to learn.”

Smith’s annual China Business Plan Competition is organized by the school’s Dingman Center for Entrepreneurship to support the growth of world-class business ideas and business leaders within China.

The Smith School’s 2008 China Business Plan Competition – Go for the Gold! is open to anyone with a business based in China, or one in which the firm’s products or services are sold to the Chinese marketplace. Businesses cannot have generated over U.S. $1,000,000 during the past 12 months, and obtained more than U.S. $5,000,000 of previous funding. The Young China Entrepreneur Award is open to graduate and undergraduate students from a recognized Chinese university with a business idea or plan. More information about the Smith School’s 2008 China Business Plan Competition can be found online.

The Smith School in China
The Smith School is partnered with the University of International Business and Economics to deliver its top-ranked programs in China.

About the University of Maryland's Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 14 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and part-time MBA, executive MBA, executive MS, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations on three continents — North America, Europe and Asia.