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The
second PolyU-IDT Innovative Entrepreneur Contest,
attracting 41 multi-disciplinary teams comprising
a total of more than 150 students signing up for its
various competitions, came to a fruitful completion
with its award presentation ceremony held on campus
on 3 June.
The
contestants showed their creative and business flair
in five categories, namely, the Electrical Appliances
and Health Care Products, IT Applications, Telecommunication
and Personal Devices, Toys, and General. After rigorous
screening, 15 teams entered the final round of competition.
The winners can even get a taste of success if their
idea eventually becomes reality and is launched in
the market through PolyU Innovation and Technology
Incubation Programme.
The
contestants were required to formulate and present
their business plans, which focused on innovative
technology or product development. Each team also
had an academic advisor who provided advice to the
team.
Mr
Raymond Chan, Chairman and CEO of IDT International
Limited, has generously donated $1 million to the
contest for its first two years starting from 2001
to ignite the spirit of innovation at PolyU.
The
judging of presentations were based on five criteria:
innovation and creative concept, commercial viability
and market potential, technological novelty and uniqueness,
soundness of business/development plan, and presentation
skills. The category winners, 1st runner-ups and 2nd
runner-ups each received a certificate of merit and
a cash prize of $25,000, $10,000 and $5,000 respectively.
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