(KPL) This is the eye-catching slogan behind the first “Business Plan Contest” organised by the Small and Medium Sized Enterprise Promotion and Development Office (SMEPDO) and supported by the German technical co-operation programme GTZ “Human Resource Development for Market Economy” (HRDME).

The “Business Plan Contest” aims to stimulate and nourish the spirit of entrepreneurship among young people interested in starting their own business in the Lao PDR. Graduate students from vocational, technical school and universities as well as other interested people are encouraged to develop new ventures based on their own ideas. The competition demands innovative and creative business ideas and aims at supporting new, independent ventures in the seed or start-up stages.

Mr. Somdy Inmyxai, SMEPDO Director General, is convinced of the positive response on the contest and underlines that: “The contest’s innovative approach as part of the Lao National SME Development Strategy will help increase the number of successful business start-ups and to spread the spirit of entrepreneurship among young Lao people”.

The prospective entrepreneurs can apply individually or in teams and must submit the application form and a summary of their business idea no later than 17th October, 2008.

After this preliminary stage and the selection of the 12 best business ideas, the participants are expected to submit a complete business plan.

The winner of the business plan contest will not only receive a prize of 10 million Kip in cash, but will also profit from SMEPDO’s technical assistance in the implementation of the business.

The SMEPDO calls for general application and is looking forward to the successful and fruitful “2008 Business Plan
Contest”.