YES Challenge and MoneyTree Asia Have Teamed Up For Young EntrepreneursBy Mark Summe on 2010-03-25 15:50:11
Participants from Uniten, University Teknologi Mara (UiTM), Monash University, Sunway University College, Taylor's University College, Nottingham University, University Malaya, UTAR, KBU and Multimedia University have gone through a grueling 6 hours of preparing, practicing, and pitching their business ideas to a series of judges in hopes to win a shot at RM 25,000. Raw ideas and quick presentations may not have won best in show, but there's no doubt that the 31 teams of young entrepreneurs had the spirit and visualization of seeing their dreams come true. YES Challenge and MoneyTree Asia have teamed up to give grants to the winners of the MoneyTree Maybank Young Entrepreneur Startup (YES) 2 challenge.
Some of the top people in the industry jumped at the chance to be a judge in a series of panels and treated their position as a life or death experience. During the 2 minutes of the 'breakthrough' pitching, judges would scribble comments down and shake or nod their heads, but once the pitching was over, rare praises and overabundant slamming came into view. A full 5-minutes of a Q and A session took place and quickly changed the lives of the many young entrepreneurs with a dream; ultimately the teams who proved their knowledge and cool would be channeled to government pre-seed grants for full commercialization of their ideas.
The young entrepreneurs pitched ideas from online student portals to theme-cafes, from travel sites customized for student needs to food delivery businesses; nothing was untouched and everything was thought through from top to bottom. Ten teams will make it through to the next round, where they will then be whittled down to 6 for the battle to gain funds to venture out into the real world with their newly obtained entrepreneurial start-up.