Established by leading universities in the UK and China, the China UK Entrepreneurship Challenge is an annual competition that is open to undergraduate and postgraduate students from either country. It provides a platform for student entrepreneurs to hone their business plans and attract prospective investors.

Now in its ninth year, the 2016 competition was launched on February 17^th at Northumbria University’s Newcastle Business School.

Professor Yu Xiong, Chair of Technology and Operations Management at Newcastle Business School said: “The initiative, which is becoming increasingly popular with universities, brings together businesses and student-led start-ups looking to develop commercial relationships and open up market opportunities through collaborations between China and the UK. It includes entrepreneurial-style competitions with cash prizes and investment opportunities up for grabs for the best business plans.”

This year, the cash prize fund has increased to £14,000 and there is an investment opportunity of £500,000. Cocoon Global Ltd has also offered the winners a possible free work space in London for up to one year.

This year’s competition hopes to build upon the extremely high standard of entries in previous years. In 2015, 74 teams of students entered and were whittled down to eight teams that participated in an exciting Dragon’s Den-style event held at Lancaster University Management School. At the national finals held at the Bank of China headquarters in London, four teams battled for the top prize, with team Microflo from the University of Cambridge crowned the eventual winners.

Lancaster's Professor David Brown said: “The standards continue to rise. This international competition has become a popular and valued entrepreneurship opportunity for students.”

Initial proposal submission and selection deadline is 5pm on Sunday 15^th May 2016. For more information on how to enter visit www.chinaukchallenge.com