Oxford Team Win China-UK Entrepreneurship Challenge

Oxford Team Win China-UK Entrepreneurship Challenge

Source: Isis Innovation

10 July 2013

In the recently finished China-UK Entrepreneurship Competition 2013, the Oxford Team organised by Dr. Tiancun Xiao from the Department of Chemistry at the University of Oxford has won the top prize. The team developed a multi-vegetable based natural functional food which is effective for curing illness in the digestive system such as mouth ulcers, heart burn, constipation. The project attracted significant interest from venture capital and individual investors.

The China UK Entrepreneurship Challenge has been developed by leading universities in the UK and China to bring together existing businesses and new student-led start-ups that are looking to develop commercial relationships and exploit market opportunities offered by new business collaborations between China and the UK. It aims to encourage new business ventures between China and the United Kingdom and is intended to simulate the real-world process of entrepreneurs soliciting start-up funds from early-stage investors and venture capital firms.

The competition, which is the longest established university entrepreneurship competition focused on China, is part of the PMI2 (Prime Minister Initiative II) Connect project, supported by British Council and the Confucius Institute programme funded by Hanban. It is organised by Lancaster University, UCL, Tianjin Association for Science and Technology, Chongqing Association for Science and Technology and the China Innovation Development Association. This year there were more than 400 entries.