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Friday, February 6, 2015

Six INNOVATEChina 2015 Finalists Announced

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February 6, 2015. Shanghai – Following an aggressive promotional campaign that included events at Stanford and Harvard in the US as well as the CEIBS Shanghai Campus, the Organising Committee for the We Win with WeChat – INNOVATEChina 2015 Global Business Plan Competition received submissions from more than 100 teams from top MBA schools in Asia, Africa, Europe, and North America. After careful deliberation, six teams were selected to participate in the finals. They are (in alphabetical order):
CEIBS – Swiffy
CUHK Business School – 4oodie
INSEAD Business School – 51QU
MIT Sloan School of Management – WeChat Care
Stanford Graduate School of Business – Jus’ Go
UCLA Anderson School of Management – Team UCLA Anderson.

“We faced an extremely tough challenge this year because WeChat, as the sole sponsor, set the bar very high in terms of the quality of business plans, coverage of schools and media exposure for the competition,” says CEIBS MBA 2016 student Viola Deng who is leading the 8-member CEIBS team organising this year’s competition. “As full-time MBA students, our team members have managed to balance the heavy workload of our MBA courses with coordinating the different parties involved to meet the high standards for this year’s competition. I’m very proud of my team and really grateful for all the support we have received. We could not have come this far without excellent teamwork and the full support of CEIBS.”

WeChat is one of the world’s largest communications apps that’s all the rage in China, and has 438 million users in more than 200 countries. Teams were challenged to come up with an innovative idea that leverages the app’s features, which include communications, e-commerce, gaming, self-media and intelligent media. The final six teams were chosen based on the chemistry their proposals had with the platform, their creativity, originality, feasibility and financial projections. During the final round of competition, which will be held at the CEIBS Shanghai Campus on March 22, the six teams will present their proposals to a panel of expert judges that will include CEIBS faculty and experienced executives from the mobile Internet industry.

Teams were encouraged to introduce themselves to the judges by including a video with their initial submission. Watch their videos on CEIBS’ Youtube, Youku and iTunes U channels.

Writer: Janine Coughlin