Competition Rules

1. Eligibility
2. Applications
3. Prizes

1. Eligibility

Tomorrow’s Leaders Track - The competition is open to individuals or teams of up to four members, who must be registered students at the time of the submission or have graduated within the previous six months. Participants may be from one or more universities.

Innovative Business Track – Existing businesses are invited to participate in their own stream within the competition. The proposals submitted should be for new activities. Participating businesses should be less than five years old and have a turnover of less than £3m/Rmb35m per year.

There is no restriction on the business plan area for Tomorrow’s Leaders or Innovative Business track entrants. All sectors are welcome to apply. The business idea proposal must, however, link China and the UK. For example, this may be through selection of the target market for the product or service, through key supplier relationships or through joint-development of the technologies or services involved.

In both categories, entries from both the UK and China will be warmly welcomed. There will be separate national competitions for both countries in each category. The winning entries in each category for both the UK and China will be judged against each other to highlight the International Grand Winners.

2. Applications

Applications at the first stage will need to include an entry form plus an Executive Summary. Applicants must clearly indicate which category the business idea falls into (Innovative Business or Tomorrow’s Leaders), and ensure that all information requested of them on the form is provided - particularly contact details.

The Executive Summary is a brief description or outline of the business idea and plans and how these are intended to be realised. Further guidance on length, key questions to be answered and other issues can be found on the team registration page.

To register your team and submit your idea, complete the application process at http://www.nvana.com/a/chinaukchallenge

Stages

  1. Idea Assessment Phase
    Entrants will be required so submit an executive summary of their idea. 10 proposals in each of the two categories (Tomorrow’s Leaders and innovative Businesses) will be selected to go forward to the next stage.
    Deadline: 19th March 2011

  2. Semi-Finals
    The 20 short-listed entrants (10 from each category) will be invited to take part in the Semi-Final and make a short presentation of their idea at an event to be held at Lancaster University. 5 entrants from each category will go forward to the National Final in each country.
    Presentation: 12th May 2011

  3. National Finals
    Entrants will be assessed based on a complete business plan document and a longer oral presentation. A winner and two runner’s up will be selected in each category. The National Final for the UK will be hosted by UCL.
    24th June 2011

  4. International Grand Final
    The three prize winners from each category from the UK will go head to head with the winners from China. An international winner will be selected from each category with the winners being showcased in both countries. This will be hosted by the University of York.
    October 2011

Prizes

£11,000 of cash prizes will be available to entrants in the UK tracks of the competition. Prizes in each category as follows:

National Prize:

  • 1st Prize: £1500 *2 = £3000
  • 2nd Prize: £1000*2 = £2000

International Prize:

  • 1st Prize: £3000
  • 2nd Prize: £2000
  • 3rd Prize: £1000

All prizes are awarded at the discretion of the judging panel and all judging decisions are final and not subject to appeal.