Today (28th May 2010), ‘Social Entrepreneurship Business Competition (SEBC)’ final round took place in CEIBS (China Europe International business School). InnoCSR was Managing Partner that i got chance to assist and attend the event.
The main purpose of this event is to encourage and support business idea towards social issues in China. Basic concept is to create opportunities for MBA students (Mainly from Universities from Shanghai) to come up with their own business idea regarding social problems in China. After trainings and two rounds of competition, final 10 business plans has been selected among 74 business plans.
It was very interesting to hear how Chinese students think what important social issues to be fixed are and their solutions. The main issues dealt were health, poverty and Environmental projection. Several interesting business plans were presented, such as LED Public Streetlamp Whole Renovation Plan, BiBang Online (Open online platform for personal health) and Green catering industry. More business plan can be found here (Chinese only) After presentation, invited investors, professors and corporate executives asked questions towards business plans as well as giving advice and feedbacks.
During the break time I had chance to talk with several investors and professor, what is their opinion on top 10 business plans. Some said, it was well planned and good to see student not only look for profit but also able to contribute to society. On the other hands, some mentioned that Chinese students were very good at showing financial plan but bit lacking when it comes to presenting creativity, targeted social problem and motivations, which most of social investors would be most interested to hear it.
There was also couple of European investors and professors attended in the event. They said, perspective of social entrepreneurship is very different in Europe and China. Especially in UK, systems are well developed for social entrepreneurial but for china, this is more of beginning stage. The business plans that were presented were bit simple and some of them already exist but considering that this is beginning stage of China, all the presentation was very impressive.
It was very interesting experience for me as well. Not only get to know what area Chinese students want to improve for their society as well as capability. It must have been difficult to find balance between making profit while doing good and contribute to society. I guess with these ambitious and considerate youth will represent bright side of China in near future.