INNOVATEChina 2017 Business Plan Competition
Date: 25th, March 2017
Venue: China Europe International Business School (CEIBS), Shanghai, China
Theme: Where Financial Technology goes High-Tech!
INNOVATEChina 2017 focuses on fintech and InternetPlus - the exciting and rapidly growing areas of technology innovation in the finance industry. Sponsored by Santander and eToro with strategic support from Tencent, the theme for INNOVATEChina 2017 is "Where Finance Goes High-Tech". Finance is at the core of the economy, and innovation in finance is essential to keeping up with rapidly evolving consumer needs. In China, the integration of the internet with other industries is also known as "Internet Plus", and this integration is a key strategic focus for China's economic vision for the future.
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 with financial services.
Digitization is dramatically impacting the way financial institutions do business with their clients. Disruptions are taking place in payments, investing, lending, fraud reduction and other areas at the core of financial services, in this very moment. 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 has identified 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 needed.
More than just a competition, INNOVATEChina aims to establish a platform to connect the innovative minds from 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 innovation in financial services, but aligning with industry trends suggest the following:
- Payments: Simplifying payment processing from international transfers to making payments in markets with no banking infrastructure
- Lending/Investing: From financial planning advisors to alternative P2P lenders for small businesses
- Smart Data Management: Exploring the benefits of Big Data and Artificial Intelligence for areas like Fraud Detection & Risk Profiling
A team should comprise three or four students, two of which must be first or second year MBA students.
Participating teams must register and submit their business plans online at www.ceibs.edu/innovatechina/reg before February 15, 2017. Concise and clear business plans are required.
Business Plan Requirement
The key components in the submitted business plan should allow judges to understand the business opportunity, including industry context, required details to understand the service or product offered, business model, competitive advantages of the business, and financial requirements.
- PowerPoint: Maximum 10 slides
- Demo or Video: Not mandatory, but we encourage you to include it for clarification
Judging Criteria (Judging panel will consist of leading industry professionals, including entrepreneurs, senior managers from financial institutions, investors and CEIBS professors.)
- (10 points) Executive Summary: An overview of business plan that is clear, concise and engaging.
- (25 points) Product/Service description/potential: A description of innovative idea, its features and benefits for the target consumers.
- (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: Disruptive impact of the idea.
Final Competition (25th March 2017)
- Each finalist team will be allowed to revise and submit their final business plan five days before the Final Competition.
- Teams will be given 10 minutes to present their prepared ideas, followed by a Q&A session, where judges will be able to ask for more details or clarity they may feel necessary.
- Any innovative materials are also encouraged for the pitch, 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 Fintec h. 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 (Santander)
- 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
- 17:30-17:40 Award Ceremony (Award Announcement, Group Photos)
- 17:40-17:45 Summary Speech by CEIBS
- 17:45-17:50 Summary Speech by Santander
- 17:50-18:15 Keynote Speech by Sponsors (Tencent)
- 18:15-18:30 Keynote Speech by Sponsors (eToro)
- 18:30-21:00 Celebration Dinner
Prizes and Awards
Teams participating in INNOVATEChina 2017- Where Finance Goes 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.
- Attend a special event to exchange their business ideas with investors, to help realize their business plan.
- Finalists will have a professional video recording uploaded to Santander's entrepreneurship database where it may be seen and reviewed by angel investors and VCs.
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
Finalists' approved accommodation, meals and local transportation expenses during the finals will be fully covered. Visa and roundtrip travel costs for each team in the finals will be covered based on the location they are travelling to Shanghai from, as follows:
- $3000 - North America, Europe
- $2000 - Asia Pacific
- $500 - Domestic (China)
Teams should contact and confirm detailed budget information with organizers by email.
- Registration Deadline: 15th February 2017
- Finalist Announce: 28th February 2017
- Final Event Date: 25th March 2017
Teamwork is very important! Your capacity to work together will be challenged during the competition. Be ready to learn, meet new people and enjoy!
- Email: email@example.com
- LinkedIn: INNOVATECHina
- Twitter: INNOVATECHina
Established in 2008, INNOVATEChina is the global business competition hosted by the current class of MBA students at China Europe International Business School (CEIBS), one of the leading business schools in the world (#17 in the Financial Times 2016 global MBA ranking).
Students from top business schools around the world are invited to participate in this business competition, which aims to discover the innovators of tomorrow. INNOVATEChina is a platform that explores emerging trends in the business world, encourages interaction and intellectual discussion between top minds, and creates an intense teamwork environment. More importantly, INNOVATEChina is an opportunity for participants to have a groundbreaking impact on the business world.
The INNOVATEChina competition brings together leading global business talents. In 2015 the competition was sponsored by the popular Chinese mobile app WeChat, and in 2016 the partners included Santander and Alibaba's Ant Financial.
Santander (SAN SM, STD US, BNC LN) is a leading global retail and commercial bank with a relevant market share in 10 core countries in Europe and the Americas. Santander is among the world's top banks by market capitalization. Founded in 1857, Santander had EUR 1.52 trillion in managed funds, 12,500 branches and 190,000 employees at the close of June 2016. In the first half of 2016, Santander made underlying profit of EUR 3,280 million.
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 more than 1,200 collaboration agreements in place with universities and institutions worldwide. More information: www.santander.com/universities.
Tencent - Financial Technology
Previously known in the last decade as Tenpay, 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, including Wechat Red Pocket, Tencent Wealth Management, Financial Cloud, Tencent Mobile Securities and Tencent Credit Bureaus, with the highest standard of security. 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.
eToro is the World's Leading Social Investment Network. eToro is the first and only financial company to partner with three of the world's leading financial institutions (PingAn, SberBank in Russia and CommerzBank in Germany). And eToro is the official partner of West Ham United Football Club. You can trade directly on global financial markets and communicate with global investors, share trading strategies, view other investors' transactions and easily copy top-level investors' transactions for free.
eToro has also launched the globally-patented CopyFunds™, which includes four kinds of Top Trader CopyFunds™ and 12 kinds of Market CopyFunds™ through Big Data Analysis, and aims to be a more robust investment tool. On the basis of controlling the relevant risk factors, the target provides an annual rate of return in excess of 10%.