Recently, a team of NIT students led by Chen Qianwei won first prize at the 9th annual “Challenge Cup,” also known as the National College Students Business Plan Competition. The Challenge Cup, which originated in the United States, aims to foster talent in business innovation by providing a venue at which college students can practice developing business plans in a competitive environment.
Chen Qianwei, a junior in Mechanical Engineering, commented, “By attending this competition, I acquired relevant, practical knowledge and also learned the value of teamwork and academic achievement.” Chen also mentioned that, as leader of the NIT team, he carried the burden of team management responsibilities and spent a good deal of his time organizing and supporting his teammates.
Chen added, “In order to succeed in this competition, you must develop a stellar business plan and maintain a positive attitude. Because the Challenge Cup is a large event with thousands of participants, the judges dont have time to read every word of your plan; therefore, its important that it catch the judges attention upon first glance. Thanks to the guidance we received from industry specialists, and especially with the support of Mr. Chen Jianping, we learned about the essentials of market analysis and financial modeling, as well as the importance of efficient team management. Our business plan was a crystallization of the combined wisdom of all our team members.”
Chen Qianwei had more to say about the Challenge Cup: “If the judges were actual investors, they would never invest money in a project whose spokesman was unable to clearly and confidently present an excellent business plan. Therefore, you first had to convince yourself that your plan was good enough; then, you had to take the next step and persuade the judges.”
In conclusion, Chen remarked, “Having a dream is easy, but starting a business is not. It requires more effort than most people realize. At this competition, I didnt learn everything I will need to know to start my own business, so I still have a lot of work to do. Succeed or fail, Im determined to continue striving to achieve my goal.”
