BYUMS ASIA PACIFIC
  • The Challenge 2019
    • About The Challenge
    • What, Where, & How?
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The Challenge 2019 - Overview
​

The BYU MS Asia, BYU Provo and the BYU Hawaii Willes Center for International Entrepreneurship are pleased to announce The Challenge-2019.   The Challenge is where Great Ideas are grown and the awarded.
​

Who Can Compete? 

Anyone in the Asia Area can compete. There does not need to be a BYU MS now in your area, nor do you need to be a BYU Student, a former BYU student or even a graduate of a University.   This competition is open to all - old and young alike, including those with and without business experience.   You can apply individually or as a team and you do not need to attend the BYU MS conference in Mongolia.  Those finalist who cannot personally attend the BYU MS Conference in Mongolia we will set up  an online session with the judges.

The judging will focus on idea uniqueness, idea feasibility and idea development.
​


How It Will Work?


Each participating chapter will hold Phase 1 of the competition and then send their winners or winning team proposals on to Phase 2 to be judged by a series of BYU approved Remote Judges.  Those that pass the Phase 2 of the competition and go on to Phase 3, will be in the finals to be held at the BYU MS Asia Area Conference in Mongolia in May 17-18, 2019.


Areas that do not have an established BYU Managment Society to participate.  If there is no BYU MS in the area, we will assign either a mentor or an organization to help with the challenge. 


Deadlines:


Phase 1 - April 15th, 2019 - Each participating area to send their winner entries to BYUMSAsia.TheChallenge@gmail.com Each area winners will be sent to the remote judges.   Note that each winner entry will need to have a  2 minute video with the business plan (see plan information in this packet)


Phase 2 - May 6th, 2019 - Remote Judging - Finalist will be announced by email and also on the BYU MS Website.   Those who are not attending the BYU MS Mongolia Conference will be assigned a time for their verbal presentations.


Phase 3 - May 17th and 18th, 2019 in Ulaabaatar Mongolia.  - Winners will be announced at the closing session of the conference. ​

​

Judging and Award Categories

Revenue -
This will be for companies that are already operating and have over 1,000 USD in revenue over the last year and total overall revenue of 10,000 USD.    This category specifically looks at companies that are currently operating.  The category will looks at ways they are can or are looking to innovate their company.   A submission can be an original idea that has yet to be executed or an original idea that has been deployed into the company.

Pre- Revenue -
Any idea of company that has produced less than 1,000 USD of revenue over the last year or the lifetime of a company.   The Pre-Revenue category focuses mainly on the ideas.  Submissions do not need to have a company to be in this category.  The ideas can be something completely new or something that is being tried but has not yet generated more than $1,000 USD in revenue.


Impact - 
Any idea or company gives a valued impact in either social, economical or environmentally.   Revenue is not a factor in this category but what is important is the impact it will have and showing how this impact can help socially, economically or environmentally.   This can be a new idea but n needs to show the impact it will have socially.


Hometown Award -
There will be an award as the hometown favorites. This means that the hometown, which this year is Mongolia will be able to send in 5 extra business plans under this category.  They can be either revenue or non revenue or can also have a social, economical or environmental impact.


​Young Entrepreneurs - 
​
Those areas that want to participate can open up the challenge to Young Entrepreneurs who are between the ages of 12 to 18 years old. Each Young Entrepreneur must have a mentor assigned to them to help them through the process.   

The Challenge - Rules

Teams are not required but a well rounded team may add strength to a venture or a presentation and idea.

People can participate or be part of an unlimited number of teams, but can only be a member of one finalist team (Phase 3).

The idea must be original work of the team or individual participant.

Revenue companies would have had over 1,000 USD in revenue from 1 Jan 2019, but less than 10,000 USD during that same period.  Any amount over 10,000 USD revenue and they cannot compete. Where required they may need to show or prove this.

Any organization that has received angel or venture capital funding of more than 10,000 USD at any time also cannot compete. Funding from personal sources ie parents, family friends is allowed.   

The following kinds of businesses are generally excluded from the competition:  multi-level marketing, network marketing, pyramid schemes, get rich programs, buy-outs, real estate syndicates, tax shelters, purchase of a franchise and licensing agreement for distribution in a different geographical area.   

For the Young Entrepreneur and Hometown Favorites Category there will be no distinction between the revenue, non-revenue and impact categories.
Get More Information

Award & Prizes

Overall Winner - This will be the overall winner that we see from all the categories.  This winner will received 2,000 USD plus a trip to BYU Provo to present their business plan at the BYU MS Conference in October 2019. If there is a team then the team will need to decide who will represent them at the BYU MS in Provo, Utah in October 2019.

evenue Winner - 1,000 USD for the overall revenue winner. (1st place), 500 USD (2nd place)

re- revenue Winner - 1,000 USD for the overall pre-revenue winner (1st Place) 500 USD (2nd Place)

ocial Impact Winner - 1,000 USD for the overall Social Impact Winner (1st place), 500 USD (2nd Place)

Hometown Favorite - 750 USD for the hometown favorite winner

Young Entrepreneur - prizes determined by number of entries.

he  number of finalists and prize money for each category will be for the number of qualified plans in each category.  If there are not enough qualified plans then categories may be eliminated.   To be qualified in Phase 2 the plans must use the approved forms, be complete and submitted on time.


Cash will be paid out equally to all team members unless there is a signed document from the teams, with a signature of all team member stating another arrangement.
Download the Packet Now
BYU MS Asia Pacific - Copyright © 2019
  • The Challenge 2019
    • About The Challenge
    • What, Where, & How?
    • Downloads & Links
  • BYU MS Asia Pacific Training
  • 2019 Mongolia BYU MS Conference
    • BYU MS Mongolia Conference Survey
    • About
    • Location
    • Breakout Sessions
    • Accommodation
    • Travel Tips
    • Keynote Speakers
    • FAQ's
    • Reading List
    • Schedule
    • Giving Back
    • Payment Via Paypal
  • Voices - BYU MS Blog
  • Asia Pacific Chapters
    • Australia
    • China - Beijing
    • China - Shanghai
    • Hawaii
    • Hawaii - BYU Student >
      • BYUH Events
      • BYUH Facebook Group
    • Hong Kong - GOLD CHAPTER >
      • HK Facebook Group
      • Hong Kong Linkedin Group
    • India
    • Japan
    • Japan - Tokyo English
    • Korea >
      • Events
    • Mongolia - GOLD CHAPTER >
      • Mongolia Facebook Group
    • New Zealand
    • Philippines
    • Singapore
    • Taiwan >
      • About Us
      • 2017 Events
      • Taiwan Linkedin Group
      • Taiwan Facebook Group
    • Thailand >
      • Thailand Facebook Group
    • USA - Asian Chapter
    • Vietnam
    • BYUMS Worldwide
  • Previous Conferences
    • 2015 Taipei >
      • Speakers 主講貴賓
      • 2015 Committee 委員會
      • Photos 相片
    • 2016 Taipei >
      • Speakers 主講貴賓
      • Location 地點
      • Schedule 活動議程
    • 2017 Seoul >
      • Photo 사진
      • Schedule 일정
      • Speakers 연사
    • 2018 Hong Kong Conference >
      • Speakers 主講貴賓
      • Recommended Readings
      • Committee 委員會
  • Careers & Education
    • Engineering
    • Finance & Accounting >
      • Cardon Int'l Scholarship
    • Entrepreneurship
    • Graphic Design
    • Human Resources
    • Hospitality & Tourism
    • International Business >
      • Cardon Int'l Scholarship
    • Mathematics
    • Psychology
    • Supply Chain
    • Technology
  • Starting a Chapter