Two undergraduate students from China won an opportunity to compete in the University of Dayton’s business plan competition.
The students will compete for $65,000 in cash prizes in the final round of UD’s 10th annual competition March 5.
The students won first place among 58 competitors in the university’s inaugural Entrepreneurship in China contest held at UD’s China Institute. Their pitch: A wedding cartoon customization service.
Student teams had 90 seconds earlier this month to present their business idea to a panel of judges.
“The ideas ranged from tech start-ups to health care to travel and tourism,” Vincent Lewis, director of the L. William Crotty Center for Entrepreneurial Leadership at UD, said in a statement. “Many ideas were geared toward selling products or services to China’s rapidly growing middle class. It was very apparent that many students in China are focused on building a business and being their own boss.”
The first-place team from from Nanjing Xiaozhaung University won $1,500, or 9856 yuan.
Two members of the winning team will travel for free to Dayton to compete against five UD teams in the final round of the competition.
The first place winner will receive $25,000; second place $15,000; third $10,000; and fourth, fifth and sixth $5,000.
All finalist teams will also receive 10 hours of free legal advice from the UD Law School’s Entrepreneurship and IP Clinic, and the top three team will get additional support.