Final Round Result Of The "Mekong US$20 Million Challenge" Contest

On July 26, Mekong Capital announced that it has chosen 5 business plans from the “Mekong $20 Million Challenge” contest to the final round.

 

These 05 competitive and potential business plans cover retails, consumer products, branding and distribution, hi-tech, and waste management business. There is one business plan from Hanoi and one business plan with the management team from the United States.

 

Totally 92 business plans covering a variety of sectors from consumer products, apparel retail, industrial-scale farming, animal breeding, industrial manufacturing, IT services, waste processing, etc…. were received from early submission date to the final submission deadline of 30th May 2007.

 

In mid of June, Mekong Capital investment team have interviewed and discussed with the management team of all 20 business plans which have been chosen to the semi-final round. There are 10 business plans from the South area, 6 business plans from the North area, and the remaining of 4 from overseas, among which 16 business plans are written by the management team who are currently working at several companies and 4 business plans are written by the management team who are currently studying and living in overseas.

 

Out of the 20 business plans, Mekong Capital investment team have chosen top 5 business plans to the final round and process the in-depth assessment to choose the most promising business plan to invest in. The winning business plan is expected to be announced in end of July. The Investment Committee of Mekong Ventures includes three seasoned business executives and successful entrepreneurs, Mr. Chris Freund - founder and Managing Director of Mekong Capital; Mr. Jonah Levey - founder and CEO of Vietnamworks; and Mr. Phan Quoc Cong - founder and CEO of ICP.