1. I have a good
business idea and would like to
sell this idea. Do you consider
buying it?
No. As our slogan “Start With An
Idea, Achieve Success By Action”
implies, we focus on the ability
to execute the business plan
than the underlying business
idea. The idea is only a
starting point.
2. What kind of
person are you looking for as
participant?
The contest is open for any
individuals or groups who intend
to start up new businesses in
Vietnam. The following
participants are specially
encouraged to join the contest:
Groups of 2-4 people, from 25 to
40 years old;
People with background in
management positions in
multinational companies in
Vietnam;
and Recent MBA graduates or
those pursuing executive MBA
programs.
3. I have just graduated from
university, should I be the
participant?
The contest is open to any
entrepreneurial individuals who
have winning ideas and burning
desire to be successful.
Therefore, if you are confident
about your business plan and
your ability to develop a new
business successfully, you
should participate in the
contest.
4. As I don’t want this to
affect my current job, will my
name be kept confidential?
Overall, we will do our best to
keep the name of participants
and also the submitted business
plans confidential. However, due
to the nature of the contest
with involvement of many
parties, it is very difficult
for us to guarantee 100%
anonymity. Also, please be aware
that if you are the winner of
the contest, your name will be
announced in full.
5. Does it matter if I don’t
have my own investment to
execute my business plan?
It doesn’t matter whether you
have investment in the business
plan or not. Of the $400,000
investment of winning prize,
$10,000 will be granted to the
winner to be used as the
winner’s own investment in the
business. The winner is welcome
to invest additional capital,
but this is not required.
6. How can I submit the
business plan?
Soft or hard copy of submitted
business plan and
“Acknowledgement Form” must be
sent via one of the two ways:
For soft copy, please send to:
submit@20trieu.com
For hard copy, please send to:
The Organizer of $20 Million
Challenge Contest
8th Floor, Capital
Place
6 Thai Van Lung District
1, Ho Chi Minh City.
7. What kind of business are
you looking for?
We expect to receive business
plans related to branded
consumer products, retail,
franchise, distribution and
internet. However, we look for
businesses that can grow fast
enough to achieve at least a $20
million value within 5 years.
8. How should the business
plan be presented?
It is up to the participant to
determine the format. However,
the plan should be concise and
preferably not more than 20
A4 pages.
9. Is the submitted business
plan kept confidential?
We will make a best effort to
keep the plan confidential, but
there is no guarantee of
confidentiality. Due to the
nature of this contest, with
many parties involved for a long
period, the participants
acknowledge that it is likely to
be difficult or impossible to
maintain or control the 100%
confidentiality of the business
plans submitted.
10. I have already had a
business in operation, should I
join the contest?
Yes, you can. We aim at
entrepreneurs with winning ideas
and excellent execution ability.
11. How will the business plan be evaluated?
Please refer to “Selection Criteria” for more details.
12. What will the Judgment Board look for?
Overall, we look for the most realistic
and proven business plan with the highest execution ability of the team.
13.
What is the prize?
The winner will receive a $400,000 investment and ongoing support from
the investors to achieve $20 million valuation target within 5 years.
14. When will
the prize be awarded?
The $400,000 investment will be disbursed
in compliance with the legal
Investment Agreement agreed by
the investors and the winner . It is possible that the winner will receive the $400,000 investment in several milestones agreed by the investors and the winner.
15. Does the contest focus only on the management teams with experience of FMCG industry?
Teams with experience in FMCG or multinationals may have higher likelihood of winning the contest due to their expertise, but the contest is open to
everyone.
16. Will my business plan be considered when it meets the expectation of 50 times growth after 5 years but with the less or more investment to the amount of $400,000?
A consideration will be taken into account depending on the nature of the business and the proper demand of the business itself. However, there will be not much big difference from the amount of $400,000.
17. What if the owner of the business plan can not quit the current job to execute the business plan?
Such a plan is unlikely to win the contest since one of the most important criteria is the ability of the management team to execute the plan.
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