“100 Dollar Challenge” – An exciting and dramatic business startup playground for APC students.

“"Start-up" or "entrepreneurship" is a business model that is becoming a growing trend in today's economy. It is seen as an opportunity for entrepreneurs, especially young entrepreneurs, to provide products/services with groundbreaking and innovative ideas to meet the ever-increasing demands of modern life.

According to statistics published in 2018 by the Small Business Administration (SBA), the number of newly established businesses reached a record high of approximately 131,275. However, according to surveys of startup results from previous years, many startups fail within the first five years, with only a few surviving and successfully developing. This reflects the reality that starting a business requires many necessary and sufficient conditions. Among them, management skills, planning, and securing funding are the three most important factors determining the success or failure of a business.

With the theme "Starting a Business," the "100 Dollar Challenge" competition at Viet My College is a platform for students to apply their knowledge of entrepreneurship and essential skills to practice. This is an opportunity for them to gain firsthand experience with this attractive business model. The program runs from July 10, 2019 to September 7, 2019.

The judging panel of the “100 Dollar Challenge” consists of experienced teachers currently working and teaching at Viet My College. They are also valuable personnel at leading businesses and corporations. According to Ms. Le Thi Phuong Lien, M.Sc. – Lecturer in the Entrepreneurship subject and judge of the competition,

– Startups are booming right now, but in essence, it's very difficult for students to succeed. It requires a lot of technological or research skills to make it easier. Therefore, the goal of the Entrepreneurship course is to help you become young entrepreneurs. This means you can start a project and run it efficiently and effectively using the Lean Canvas model. This is a model that replaces the old business plan, and is now being adopted by schools specializing in startups or entrepreneurs. I want you to be able to do well based on this model when you enter the workforce. The ongoing "100 Dollar Challenge" will help you raise additional funds to better realize your current project ideas.

The “100 Dollar Challenge” competition has three official rounds:

• Ring 01: Launch (July 10 – July 25)
  • Participating teams submit a plan including their idea, objectives, business plan, finances, marketing, etc., and a prototype to the competition organizers.
  • After their plan and product were approved by the judging panel, the team advanced to Round 2.
• Vcircle 02: Practical Training (August 1st – August 30th))
  • Teams have 30 days to launch their registered product line.
  • Participate fully in all three mandatory on-campus sales sessions for the judging panel to monitor and evaluate your product/service and marketing and communication activities.
  • Prepare a summary report on business activities and submit it to the organizing committee after the sales period ends.
  • The judging panel selected the 10 best participating teams to advance to the Final Round.
• Round 3: Final (August 31st – September 7th)
  • Ten teams will take turns presenting their business projects and engaging in a direct Q&A session with the competition's judging panel.
  • The final results are based on assessments of each team's performance and progress in the Final Round, with a prize pool of up to 10 million VND.

The competition not only helps students gain more knowledge and stimulates their creativity, management, sales, and product/service promotion skills, but also opens up opportunities for them to hone their professional skills, soft skills, and especially business ethics through interaction, experience, and healthy competition with all participating teams. Each week, teams will implement their planned marketing, financial, and human resources strategies and allocate resources most effectively for their actual product. Real sales sessions, negotiations about products, prices, and promotional programs to attract customers will take place weekly in the lobby of the Trung Son campus – Viet My College this August.

Ms. Lien shared: “Regarding teaching methods, I still prefer that students learn by doing. Clearly, your current ideas are excellent; they're not just limited to mixed rice paper snacks or bubble tea… but are branded products, with online and offline marketing, and a greater focus on environmental protection. There are fewer plastic straws, less waste, and some groups even run battery exchange promotions, meaning you can get a discount on drinks just by bringing in your batteries… I always encourage students to pay attention to these aspects so that later, no matter what kind of business they run, it can still be better for the community. This is the direction that I and the school want to pursue.”.

Through this program, Viet My College once again firmly affirms its modern educational orientation with the motto "Learning by Doing - Experiencing." Teaching according to international standards based on real-world projects (Project-based Learning) aims to bring learners joy and excitement in the spirit of liberal education and to develop their full potential in a modern, friendly, and humane learning environment.

Currently, the competition is still in the "Practical Round" before the teams submit their activity summary reports.

Final Round of the “100 Dollar Challenge” It is expected to take place on the date 07/09/2019 at the Trung Son campus – Viet My College.

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Detailed information American Polytechnic College (APC):

Zhongshan Campus:

• Address: Numbers 5-7-9-11, Street No. 4, Trung Son Residential Area, Ho Chi Minh City
• Phone: (028) 5433 6888
• Hotline: 0938 90 5050 | 090 2858 550

Go Vap branch:

• Address: 1A Nguyen Van Luong Street, Ward 6, Go Vap District, Ho Chi Minh City
• Phone: (028) 7302 5888

Cu Chi branch:

• Address: 83A Bui Thi He Street, Ward 1, Cu Chi Town, Cu Chi District, Ho Chi Minh City
• Phone: (028) 3636 4983

Can Tho branch

• Address: 135P Tran Hung Dao Street, An Phu Ward, Ninh Kieu District, Can Tho City
• Phone: (0292) 3832 045
• Hotline: 0937 910 212

Training programs/fields of study:

UK INTERNATIONAL COLLEGE SYSTEM:

• BTEC HND in Hospitality Management
• BTEC HND in Business (HRM – Human Resource Management)
• BTEC HND in Business (Marketing)
• BTEC HND in Business (Accounting and Finance)
• BTEC HND in Art and Design

REGULAR COLLEGE PROGRAM:

• Management group
• Translation and Interpretation Group
• Information Technology Sector 
• Healthcare sector
• Design field

Facebook: American Polytechnic College

E-mail:

• Admissions Office: info@caodangvietmy.edu.vn
• Training Department: phongdaotao@caodangvietmy.edu.vn
• Student Services Office: dichvusinhvien@caodangvietmy.edu.vn

 

 

 

 

 

 

 

 

 

 

 

Author: Viet My College - Date written: August 27, 2019

Category: Training program, Education news, News - Events

Tags: APC, Viet My College, Starting a business, business