The $20 Million Challenge

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Monday, March 26. 2007

Early 2007 Mekong Capital Vietnam launched $20 million challenge -Thách thức $20 triệu competition. It is truly a business plan competition even it is stated beyond that. The priority categories are distribution of branded consumer products, retails, franchise and no mention of web services. This implies Mekong Capital would not join Vina Capital DFJ and IDGVV on tech VC battle ground. Young tech entrepreneurs rather digg into CNN Business 2.0 feature as Mekong Capital does not favor tech savvy guys under 25 and have no MBA diploma. The 22 year old Mark Zuckerberg with his Facebook could reach $1 billion. Vietnamese Phùng Tiến Công started nhacso.net with FPT Music in 2005 at 24 years old. As my earlier post, if you have a good concept and dream team just start and VC should come along. Competitions and gameshows can make an American Idol and The Apprentice but not a Simon Fuller and Donald Trump.

Posted by Jason at 17:10 | Comments (2) | Trackbacks (0)

Defined tags for this entry: entrepreneur, startup, venture capital, web 2.0

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The $20 million challenge is certainly open to young tech entrepreneurs, and the winning business plan could be an internet-related business. We certainly don't care if the business plan sponsors have MBAs or not. However we do look for a proven track record of achivements and management skill. A team of people in thier mid-20's with 3-5 years of work experience could potentnally win the contest.

#1 Chris Freund (Homepage) on 2008-02-06 15:08 (Reply)

Young tech entrepreneurs should start their ventures quickly rather than wasting time writing biz plan for such a contest.

(in fast-changing technology sectors)

#1.1 Jason (Homepage) on 2008-04-03 10:33 (Reply)

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The $20 Million Challenge

VCs are seeking Vietnamese Web 2.0 Startups

Monday, March 26. 2007

The $20 Million Challenge

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