Peking University, June 11, 2010: Peking University hosted the final round of the third Business Plan Competition (BPC) for university students on June 6. A recycled paper packaging project developed by the team from China Foreign Affairs University won first place.

Seven universities in Beijing sent their teams to the competition to present business plans at the final. The Peking University team won second place with its plan for a breakfast vending machine system in subways. Third place went to the team from the University of International Business and Economics for running a psychological and physical consultation firm. Other business innovations presented include the public water dispenser network with commercial ads and public service advertising; a software company on image processing and human resources management solutions; public relations and advertisement strategy for a cosmetics brand; and a fashion company for customized clothing.

The eight-judge panel awarded the recycled paper package project the winner for its innovation on the integration of paper recycling, package design and production and logistics. "This cycle of material collection, design, manufacturing and distribution will cut cost and ensure quality," said Hu Weihua, a judge and chairman of Cheung Kong Graduate School of Business — an MBA venture capital club.

Wang Juan, a judge and professor of business undertaking, praised the plan's clear vision of choosing publishing houses or presses as major clients. "This would ensure capital flow and market share," she said.

"Its focus on recycling matches the trend of green economy and the social responsibility of business," said Chen Mo, a judge and Brand PR director for Procter & Gamble Co. "I would like to introduce it to my friends in the publishing industry."

Besides the business plan presentation, the final had a mission/solution section. Each team selected one of three tasks covering Brand PR, crisis management and new media strategy and provided its solution with a five-minute speech in English. "All the missions are from real cases," said Wang Si, a judge and mission provider. "The students will get the chance to know challenges in reality."

The software company project from Beijing Information Science and Technology University is the only of the seven projects that currently operates.

"University students lack social experience and they should do more on marketing analysis, investment sourcing and risk mitigation before starting a business," said Ren Haiping, a judge and deputy director of the Board's Office with Sinosteel Corporation, to China.org.cn after the competition.

According to a guideline issued by the Ministry of Human Resources and Social Security, China will help 450,000 students set up their own business in next two years.

Using the theme "Innovation, Change and Development," BPC aims to showcase the creativity, teamwork and business acumen of university students while providing a platform for them to communicate with industry insiders and investors. Three student clubs from China Foreign Affairs University, Tsinghua University, and Peking University organized the event.

Reported by: Li Shen

Edited by: Jacques

Source: China.org.cn