11 September 2009

Vietnam team in Business Plan finals

The Vice-Chancellor presents the first prize of $25,000 to the 2008 winners, EnergyCore

The Vice-Chancellor presents the first prize of $25,000 to the 2008 winners, EnergyCore.

Related stories

Nine teams are through to the finals of the 2009 RMIT University Business Plan Competition, including one from RMIT International University Vietnam.

The Vietnam team, which will come to Melbourne for the finals, has developed a business plan for a Hanoi high school, to be known as the Sunshine School, that would combine a traditional Vietnamese curriculum with speciality international and English programs.

Rosemary O’Connor, Senior Manager, College of Business Innovation Unit, which runs the competition, said: “It is particularly pleasing to see a team from RMIT Vietnam reach the finals.

“Ten of the 97 teams entering the competition first round were from Vietnam, the biggest number ever.”

This year’s finalists are putting forward a wide range of business concepts. They include:

  • An environmentally sustainable design renovation service
  • A tour company offering unique Australian experiences through small group touring
  • A fashion concept where the designer collaborates with the client to produce original fashion
  • A company providing boutique cakes and treats to inner-city niche cafes
  • A venture that designs and produces eco-friendly accessories for women
  • A web-based system to help clubs and event organisations manage their activities
  • An online maths and science tutoring service
  • A regular social event where women exchange their unwanted garments for a “new wardrobe”

“Students from right across RMIT have participated in the 2009 competition,” Ms O’Connor said.

“There were many excellent business concepts that will become very successful businesses, regardless of whether they made the finals.”

With $98,000 cash and in-kind prizes up for grabs, the finals will be hotly contested.

Teams will “pitch” their business concepts to a judging panel later this month at the offices of a competition sponsor, Ernst & Young.

Winners will be announced at the RMIT Business Plan Competition Awards Ceremony, hosted by RMIT’s Vice-Chancellor and President, Professor Margaret Gardner AO, on Wednesday, 14 October.

This year more than 100 people from the business community contributed their time and expertise as judges, mentors and other supporters.

“The RMIT Business Plan Competition is the largest and most diverse program of its type in Australia,” Ms O’Connor said.

“We simply couldn’t run it without the close involvement of our industry sponsors, judges and mentors.”

More news

Subscribe to RMIT news RSS feeds