HP Inc. has launched a challenge called “Creators of Tomorrow University Challenge” in Malaysia in collaboration with Tealive. The challenge is meant to inspire entrepreneurship amongst youths by bringing them one step closer to making their business dreams a reality.
According to HP, early-stage investments are one of the biggest barriers of entry for aspiring student entrepreneurs. “As part of our goal to support the future of Malaysia, the challenge is a great way for our youths to showcase their business ideas and change the local market landscape,” Malaysia Managing Director at HP Inc. Fayza Mohamed Amin said.
In essence, this challenge is a contest whereby participants will pitch business proposals, and the winner will receive the help needed to break down the barriers to entry and subsequently take their businesses to the next level.
Who Can Join?
HP Inc. and Tealive are looking for university students who are aged 17 – 25. You can make submissions of business proposals as an individual or as a team with a maximum of 5 members.
You must be Malaysian if you’re submitting as an individual. If you’re submitting as a group, the group must consist of all university students, with at least 1 Malaysian member.
The immediate family of HP Malaysia employees (spouse, child or step-child [whether natural or by adoption], parent, step-parent, brother, sister, step-brother or step-sister) are not eligible for participation in this contest.
What’s In It For You?
The winning individual (or team, if you submitted as a group of 5) of the challenge will receive RM10,000 in startup capital and a 3-month internship/mentorship with both HP Malaysia and Tealive.
A Timeline Of The Entire Challenge
The Contest Submission Period is open from today until 11:59 PM on 30 September 2019 for you to submit your business pitches/proposals, and this makes up Stage 1 of the contest.
The top 10 shortlisted participants will be decided upon and announced in the duration between 14 – 20 October 2019.
Within the period of 4 – 8 November 2019 (the exact date has yet to be confirmed), Stage 2 which is the final round of the contest will be held.
What’s The Contest Procedure?
Here is some information to take note of before applying:
- You’ll have to fill in the submission form where you’ll submit your business proposal in 300 words, complete with a proposed name for the project.
- Multiple proposals are allowed.
- If you’re shortlisted, you’ll be given 1 month to prepare your proposal(s) to be presented in front of the judges from HP Inc. and Tealive who will then decide the winning proposal.
For Stage 1, you should demonstrate an understanding of these points when submitting your proposal(s).
- Market Opportunity: You should ensure that there will be market demand for your product, and you should know who your target audience are.
- Competitive Advantage: In today’s competitive market landscape, does your business proposal have what it takes to stand out?
- Resources Required: You should be able to identify what type of resources you will need to make your proposal into an operational business.
- Financial Understanding: You should have a basic understanding on the startup cost required, understand your financial goals and be able to identify your business’ financial viability.
For Stage 2, you’ll be required to do a 30-minute presentation before the judges where you will need good presentation skills, a product sample ready for presentation, a clear presentation complete with marketing insights to support your proposal(s), and be able to respond well to the judges’ questions.
- You can read more about the terms and conditions of the challenge here.
- You can submit your proposal(s) here.
Featured Image Credit: HP Inc.