After 3-month preparation and operation, IDGVC released the first award list of its Business Idea Competition on December 8, 2005. During this quarter-long time, the competition website (www.myidgvc.com) has received 660 “ideas” with 648 has been verified valid.

The active participation of candidates has made the ideas evaluation a very tough job. Firstly, all business ideas were categorized and indexed according to IDGVC’s criterions; then all the evaluation committee members reviewed these ideas and made their own choices; finally the top 10 ideas supported by the committee were released and awarded.

According to an insider of the Idea competition, IDGVC have found some very interesting business model during the evaluation process. Though these conclusions don't stand for IDGVC’s point of view, they are really illuminating.

First of all, all the award-winners are male, which maybe indicate that in China the male still dominates the business initiative field at the present.

Meanwhile, 8 ideas among the top 10 were Internet applications and the rest 2 were about new media development and wireless application respectively, which may indicate that Internet-based innovation still represent the business initiative trends.

Another interesting phenomenon is that, most of these top 10 business ideas came from Beijing, Shanghai, Guangzhou and Shenzhen. It is well known that currently most of the domestic companies that obtaining venture investments are located in these central cities. However, as far as this contest is concerned, entrepreneurs from other places beyond central cities also have good ideas. The reason why they were not chosen by VCs is multifold. They may be subject to local business environments or lack of implementation capability due to the deficient experience.

In fact, students accounted for 42.3% of the competitors, entrepreneurs held 35.6% of the competitors and the rest 22.1% are company employees. As can be seen through above statistics, university campus is still the ideal place for brewing entrepreneur dreams. But in the award-winning ideas, 5 were already in operation, which means that they are more market-driven projects. As a bridge to link potential entrepreneurs and IDGVC, the Idea Competition will be carried through as a long-term project. During this process, IDGVC hopes to achieve two goals, one is to kindle the enthusiasm of the potential entrepreneurs, and another is to seek for cooperation opportunities with promising entrepreneurs.

(Source: Sina Technology)