INNOVATEChina 2017 Business Plan Competition
Date: 25th, March 2017
Venue: CEIBS Business School, Shanghai ,China
Theme: Where Financial Technology goes High-Tech!
INNOVATEChina 2017 focuses on the exciting and rapidly growing area of technology innovation in the finance industry. Sponsored by Santander Bank and Etoro with strategic support from Tencent, the 2017 INNOVATEChina theme is "Where Financial Technology goes High-Tech". Finance is at the core of an economy, and innovation in finance is essential to keep pace with our rapidly evolving consumer needs. In China, the merging of the Internet with different industries is known as "Internet Plus" and is a key strategic focus for China's economic upgrade. In line with this vision and CEIBS's motto, "China Depth, Global Breadth", CEIBS is providing a platform for future entrepreneurs and business leaders around the world to identify innovative business model ideas that combine the internet and financial services.
Digitization is dramatically impacting the way financial institutions do business with their clients. Disruption is taking place in payments, investing, lending, fraud reduction and other areas at the core of financial services. Both incumbents and new entrants are reinventing how financial products are delivered to consumers and businesses – with the newer generations and emerging economies embracing new ways to do banking.
In this context, Santander identifies INNOVATEChina as a key platform to learn and gain insights on how future generations will interact with financial institutions as well as the kind of products and services that will be demanded.
More than just a competition, INNOVATEChina aims at establishing a platform to connect the innovative minds of global business schools with the vast experience of business experts and venture capitalists in China to introduce pioneering financial services ideas to the industry.
We encourage any kind of finance+ innovation, but aligning with industry trends suggest the following:
- Internet Finance + Payments: Easing payment processing from international transfers to making payments in markets with no banking infrastructure
- Internet Finance + Deposit/Lending: From financial planning advisors to alternative P2P lenders for small businesses
- Internet Finance + Smart Data Management: Exploring the benefits of Big Data and Artificial Intelligence for areas like Fraud Detection & Risk Profiling
A team is formed by teams of 3-4 students, two of which must be first or second year MBA students.
Business Plan Requirement
The key components in the submitted business plan should allow judges to understand the business opportunity and proposal in the best way possible. For example: industry context, required details to understand the service or product offered, selected business model, competitive advantages of the business plans or financial requirements.
Maximum 10 slides
Demo or Video
Not mandatory, but we encourage you to include it for clarification.
Judging Criteria (Judging panel will be consisted of respected professionals (entrepreneurs and top managers in the field), investors and CEIBS professors)
- (10 points) Executive Summary: An overview of business plan that is clear, concise and engaging.
- (25 points) New Product/Service: A description of innovative idea, its feature and benefits for the target consumers, along with pricing
- (25 points) Market Strategy: A Brief description of the market, stating your competitive analysis and unique capabilities (improve efficiency, cost reduction, increase transaction volumes, enhance communication of finance activities).
- (20 points) Financials: Summary of the revenue, profit or other financials that are clear to understand and linked with the business plan.
- (10 points) Feasibility: Can the idea be realistically executed now or in the near future.
- (10 points) Originality: There must be no plagiarism or intellectual property infringement.
- Each finalist team will be allowed to revise and submit their final business plan 5 days before the Final Competition.
- Final competition will have an on-site case, which is a case study prepared by Santander and assigned to students in 48 hours before the final competition.
- Teams will be given 5 minutes to present on-site case and 10 minutes to present their prepared ideas, followed by a Q&A session, where judges will be able to clarify question marks or inquire more details if they require for their understanding.
- Any innovative form is also encouraged for the pitching if it helps better clarify the business idea, e.g. video, product sample display.
Final Competition Agenda (During the event, several speakers will also be invited to share their views on the innovations and emerging trends that will define the future of Fintech. The event will be held in English)
- 13:30-14:00 Guests Arriving& Registration (Playing Team Video on-site)
- 14:00-14:10 Opening Speech
- 14:10-14:30 Keynote Speech by Sponsor
- 14:30-14:35 MC Introduces Final teams and Judging Criteria
- 14:35-15:30 Team Presentations (1-3)
- 15:30-15:50 Tea Break
- 15:50-16:45 Team Presentations (4-6)
- 16:45-17:30 Panel Discussion
- 17:30-17:45 Award Ceremony (Award Announcement, Group photo)
- 17:45-18:00 Summary Speech by CEIBS
- 18:00-18:20 Keynote Speech by Sponsors
- 18:20-21:00 Celebration Dinner
- Etoro speech TBD
Prizes and Awards
Teams participating in INNOVATEChina 2017- Where finance meets High Tech will have the opportunity to:
- Improve their business plans by receiving assistance from professionals and experts.
- Extend their network in the Asian market.
- Special event to exchange their business ideas with capital providers, to realize their business plan.
In addition , this competition will also offer monetary prizes for the winners:
- First prize: USD 10,000
- Second prize: USD 4,000
- Third prize: USD 1 ,000
- Best Idea: USD 1,000 in total
Accommodation, meals and local transportation expenses during the finals will be fully covered. The VISA expenses and round-trip expenses budgets for each final team will be up to $3000 USD, based on the areas.
- $3000 - North America, Europe
- $2000 - Asia Pacific
- $500 - Domestic (China)
For detail budget information for each team please contact and confirm with organizers through official email.
- Registration Deadline: 15th February 2017
- Finalist Announce: 28th February 2017
- Final Event Date: 25th March 2017
Registration: participating teams are required to register and submit their business plans by email before 15th February 2017. Concise but clear business plans are required. Teams should fill the application form and send it together with the business plan to email@example.com
- Email: firstname.lastname@example.org
- LinkedIn: INNOVATECHina
- Twitter: INNOVATECHina
Established in 2008, INNOVATEChina is the global business competition hosted by the current class of MBA students of China Europe International Business School (CEIBS), one of the leading business schools in the world (Ranked 17th in the world by Financial Times MBA ranking 2016).
Students from top global business schools are invited to take part in a business competition, in which tomorrow's innovators are discovered. INNOVATEChina is a platform that explores emerging trends in the business world, encourages interaction and intellectual discussion between the top minds, and creates an intense teamwork environment. More importantly, INNOVATEChina is an opportunity for participants to make groundbreaking impacts for the business world.
INNOVATEChina has consistently attracted great talents to its stage with recent topics like“We Win with WECHAT”in 2015, and“Internet Financial Service in new era”sponsored by Santander and Alipay in 2016.
Santander is a leading bank worldwide with a well-diversified presence in more than 23 countries and more than 117 million clients in the Eurozone, the UK, Latin America and the US. It is the largest bank in the Eurozone and eleventh in the world by market capitalization, with attributable profit of 5.8 billion euros.
Banco Santander’s commercial model aims to satisfy the needs of all types of customer: individuals with different income levels, companies of any size and different sectors of activity, private companies and public institutions. The developing of lasting and sustainable relations with them is the Bank’s main objective.
Innovation has been one of Santander’s hallmarks since it was founded. On many occasions the Bank has revolutionized the financial sector with new products and services. Santander is currently undergoing a digital transformation in order to anticipate and respond to customers’ new with innovative and attractive solutions in areas such as online banking, mobile banking, mobile wallet and digital payments.
Banco Santander is the largest investor in education in the world (Varkey/UNESCO report – Fortune 500). This initiative is backed by Santander Universities which has 1,200 collaboration agreements in place with universities and institutions worldwide. In 2015, Santander granted 35,702 scholarships, financial aid for study and professional practices. More information: www.santander.com/universities.
Tencent - Financial Technology
Previously known as Tenpay in the last decade, it was rebranded as "FiT" (Financial Technology) in September, 2015. Based on two mega platforms "Wechat Pay" and "QQ E-Wallet", it provides a series of convenient and caring services to its customers with highest standard of security, including Wechat Red Pocket, Tencent Wealth Management, Financial Cloud, Tencent Mobile Securities and Tencent Credit Bureaus. FiT develops financial technology products and services to connect individual users and business clients with financial institutions, creating an industrial platform worth hundreds of billions dollars.