Encouraging Entrepreneurs
Since 2010/11 we’ve created teams of students at Lao-American College to prepare business plans and represent Laos in the annual McKinsey Mekong Business Challenge.
The Mekong Business Competition is organized by McKinsey Co., in cooperation with Google, Fusion Partners and Standard Chartered, Samsung, Dell, etc. It aims at selecting the best business models from the Mekong region and attracts entries from over 100 universities in Cambodia, Vietnam, Thailand, Myanmar, Laos, Yunnan Province in China and Bhutan.
Remembering that Laos is a Communist based culture...we’ve had great success:
2010/11 finals in Phnom Penh – two Lao-American College (LAC) teams finalists, (in the top 10)
2011/12 finals in Phnom Penh – two LAC teams finalists. One won the Silver Medal, with prizes of Galaxy Pads.
2012/13 finals in Yangon – two LAC teams finalists. One won the Gold Medal, First Place, with a free trip to the USA and presentation of their Business project at Harvard University.
2013/14 finals in Vientiane – two LAC/NUoL teams finalists.
2014/15 finals in Hanoi- one LAC team finalist.
2015/16 finals in Phnom Penh – one LAC team finalist
The Mekong Business Competition is organized by McKinsey Co., in cooperation with Google, Fusion Partners and Standard Chartered, Samsung, Dell, etc. It aims at selecting the best business models from the Mekong region and attracts entries from over 100 universities in Cambodia, Vietnam, Thailand, Myanmar, Laos, Yunnan Province in China and Bhutan.
Remembering that Laos is a Communist based culture...we’ve had great success:
2010/11 finals in Phnom Penh – two Lao-American College (LAC) teams finalists, (in the top 10)
2011/12 finals in Phnom Penh – two LAC teams finalists. One won the Silver Medal, with prizes of Galaxy Pads.
2012/13 finals in Yangon – two LAC teams finalists. One won the Gold Medal, First Place, with a free trip to the USA and presentation of their Business project at Harvard University.
2013/14 finals in Vientiane – two LAC/NUoL teams finalists.
2014/15 finals in Hanoi- one LAC team finalist.
2015/16 finals in Phnom Penh – one LAC team finalist
The competition is open to all undergraduate and graduate students currently enrolled at universities in Bhutan, Cambodia, Laos, Myanmar, Thailand, Vietnam and Yunnan Province, China. Recently graduated students can join a team, at least 1 member of the team must be a registered student at a university.
Team members can be from different academic majors, different universities and countries.
Open to Business and Social Venture ideas relating to all sectors, e.g., IT, technology, agriculture, tourism, service sectors, finance, Mobile Apps, etc.
Priority given to teams committed to launching a business or social venture or have a business already started-up.
Funding from Sponsors and Investors is possible.
Vientiane Times
November 25, 2010
From disadvantage to opportunity
Times reporters
A student who turned his physical disadvantage into an idea for a business plan has been chosen for the final of the McKinsey Mekong Business Plan Challenge competition to be held in Cambodia early next year.
Mr Nalongded Luanglath a student at the Lao-American College in Vientiane was born with a bone defect which did not permit him to walk or attend a normal school growing up. He has used a computer to study at home for most of his life.
This gave Mr Nalongded his business idea, which he developed with his team and submitted for the competition.
The business project is called Netbook Rental Service and proposes the rental of computers to students and adults who do not have the means to buy one. It is specially oriented towards students with reduced mobility who must stay at home or hospital to study or attend special schools.
Mr Nalongded prepared his project at the Lao-American College where he is now completing his Business Administration Degree.
According to the college, over a 100 projects were submitted by teams from universities in Cambodia, Laos, Thailand and Vietnam in the competition organized by the world renowned management consulting firm McKinsey and Co.
Mr Nalongded’s project is one of two projects from Laos to be chosen, with only 11 selected for the finals to be held in Phnom Penh early next year.
The other selected project involves the development of a community library, including student study rooms, language laboratory and restaurant. The leader of this project is Aksone Khantiphab, assisted by Vongsathid and Athit Phatoumvan. They are also studying for business degrees at the Lao-American College.
Nana TENG, Head of the college’s business school and Mike Wallace Volunteer Assistant, said “We are very proud of the students. They’ve put a lot of hard work and dedication into their projects. This is an invaluable opportunity for the students to gain practical experience in entrepreneurship, an important topic we’ve been incorporating into the business curriculum over the past months”.
November 25, 2010
From disadvantage to opportunity
Times reporters
A student who turned his physical disadvantage into an idea for a business plan has been chosen for the final of the McKinsey Mekong Business Plan Challenge competition to be held in Cambodia early next year.
Mr Nalongded Luanglath a student at the Lao-American College in Vientiane was born with a bone defect which did not permit him to walk or attend a normal school growing up. He has used a computer to study at home for most of his life.
This gave Mr Nalongded his business idea, which he developed with his team and submitted for the competition.
The business project is called Netbook Rental Service and proposes the rental of computers to students and adults who do not have the means to buy one. It is specially oriented towards students with reduced mobility who must stay at home or hospital to study or attend special schools.
Mr Nalongded prepared his project at the Lao-American College where he is now completing his Business Administration Degree.
According to the college, over a 100 projects were submitted by teams from universities in Cambodia, Laos, Thailand and Vietnam in the competition organized by the world renowned management consulting firm McKinsey and Co.
Mr Nalongded’s project is one of two projects from Laos to be chosen, with only 11 selected for the finals to be held in Phnom Penh early next year.
The other selected project involves the development of a community library, including student study rooms, language laboratory and restaurant. The leader of this project is Aksone Khantiphab, assisted by Vongsathid and Athit Phatoumvan. They are also studying for business degrees at the Lao-American College.
Nana TENG, Head of the college’s business school and Mike Wallace Volunteer Assistant, said “We are very proud of the students. They’ve put a lot of hard work and dedication into their projects. This is an invaluable opportunity for the students to gain practical experience in entrepreneurship, an important topic we’ve been incorporating into the business curriculum over the past months”.
2010/11 - McKinsey Mekong Business Competition
PROJECTS
The two projects below are self-sustaining social ventures and have been selected for the finals of the McKinsey Mekong Business Plan Challenge competition to be held in Phnom Penh, Cambodia in February 2011.
Over a 100 projects were submitted by teams from universities in Cambodia, Laos, Thailand and Vietnam and only 11 were selected for the final round.
1. Net book Rental Service (NRS)
A rental/leasing company to rent computers to students and adults who do not have the means to buy one, specially oriented towards students with reduced mobility who must stay at home or hospital to study or attend special schools. The leader of this project is Mr. Nalongded Luanglath “Ard” who himself used a computer to study at home for the most part of his life, having been born with a bone defect which does not permit him to walk and attend normal school. He prepared his project at the Lao-American College where he has now completed his Business Administration Degree.
2. Community Library
Includes student study rooms, language laboratory and restaurant. The leader of this project is Aksone Khantiphab, assisted by Vongsathid and Athit Phatoumvan. They all attended the Lao-American College for Business Degrees.
Nana TENG, Head of the Business School at Lao-American College and Mike WALLACE, one of her staff, are delighted with the results. “We are very proud of the students. They’ve put a lot of hard work and dedication into this project so far. This is an invaluable opportunity for the students to gain practical experience in social entrepreneurship, an important topic we’ve been incorporating into the business curriculum over the past months”.
LAC submitted 3 projects of which the above 2 were selected, a great achievement. The third project is on “Recycling Solid Waste” which is also a commendable business venture for the future.
Ginny Van OSTRAND, the founder and co-director of LAC said, ”The opening of the Lao Stock Exchange signals the move of Laos into the international business and financial community, and at LAC we’re proud to be part of it”.
The next step is to finish in the top 3, so now Nana, Mike and their students have to work even harder to “fine tune” the business plans to try for the top place sometime in February 2011.First prize is a visit to the USA for the team and the teacher with all expenses paid.”That’s a golden opportunity worthwhile working for”, says Ard the leader of the NRS project!
PROJECTS
The two projects below are self-sustaining social ventures and have been selected for the finals of the McKinsey Mekong Business Plan Challenge competition to be held in Phnom Penh, Cambodia in February 2011.
Over a 100 projects were submitted by teams from universities in Cambodia, Laos, Thailand and Vietnam and only 11 were selected for the final round.
1. Net book Rental Service (NRS)
A rental/leasing company to rent computers to students and adults who do not have the means to buy one, specially oriented towards students with reduced mobility who must stay at home or hospital to study or attend special schools. The leader of this project is Mr. Nalongded Luanglath “Ard” who himself used a computer to study at home for the most part of his life, having been born with a bone defect which does not permit him to walk and attend normal school. He prepared his project at the Lao-American College where he has now completed his Business Administration Degree.
2. Community Library
Includes student study rooms, language laboratory and restaurant. The leader of this project is Aksone Khantiphab, assisted by Vongsathid and Athit Phatoumvan. They all attended the Lao-American College for Business Degrees.
Nana TENG, Head of the Business School at Lao-American College and Mike WALLACE, one of her staff, are delighted with the results. “We are very proud of the students. They’ve put a lot of hard work and dedication into this project so far. This is an invaluable opportunity for the students to gain practical experience in social entrepreneurship, an important topic we’ve been incorporating into the business curriculum over the past months”.
LAC submitted 3 projects of which the above 2 were selected, a great achievement. The third project is on “Recycling Solid Waste” which is also a commendable business venture for the future.
Ginny Van OSTRAND, the founder and co-director of LAC said, ”The opening of the Lao Stock Exchange signals the move of Laos into the international business and financial community, and at LAC we’re proud to be part of it”.
The next step is to finish in the top 3, so now Nana, Mike and their students have to work even harder to “fine tune” the business plans to try for the top place sometime in February 2011.First prize is a visit to the USA for the team and the teacher with all expenses paid.”That’s a golden opportunity worthwhile working for”, says Ard the leader of the NRS project!
From right to left, Nalongded Luanglath “Ard”, Vongsathid, Nana TENG, Aksone Khantiphab, Mike WALLACE and Athit Phatoumvan in the American Cultural Centre Library at LAC
Mike WALLACE(advisor), Khavi, Lily, Athit, Phutachanh, NanaTENG(advisor)
The “Moringa Plus” Team, lead by Khavi Homsombath, with Ms Thidaphone Temelath and Athit Pathoumvanh, won the top place Gold Medal and will travel to the USA to compete in the “World” finals at Harvard University in May. They presented their business plan for manufacturing, branding and marketing a range of products based on the Moringa Tree and its natural health qualities. They are now looking for partners to expand sales to neighboring countries and explore overseas expansion to Europe and the USA. Over a 100 teams from Universities in Thailand, Cambodia, Laos, Myanmar and Vietnam competed. The Silver Medal went to a team from the Foreign Trade University & Hanoi University of Science & Technology with an IT business plan “Our Way: Mobile Social Network App for Transportation”. The Bronze Medal was won by a team from The Institute of Technology of Cambodia, Phnom Penh, with a Business Plan to produce “Organic Vinegar” |
LAOS Wins Gold Medal in Mekong Business Challenge
March 2013 Laos had two teams in the Finals of the prestigious Mekong Business Challenge, the Final round of which was held in Yangon, Myanmar on March 16th 2013 Both teams were from the Lao-American College: Mike WALLACE(advisor), Khavi, Lily, Athit, Phutachanh, NanaTENG(advisor) Somlith and Vieng (missing) 
The“International Business Services Company” team, lead by SomlithDuangchanphasert, with Ms. Viengsavanh Xaychaleune and Ms. Phouthachan Samounty received special commendations for their Business Plan to make it easier for both foreign and local SME’s to start-up businesses in Laos by providing domiciling and furnished offices at one location in Central Vientiane
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Visiting Shwedagon Paya after the competition
Last year a LAC team won the Silver medal with Vientiane Career Fair. The Career Fair is now an established event, well appreciated and attended by 50 companies and 2000 students. The 3rd Annual Vientiane Career Fair will be held in mid-June 2013. See Facebook Vientiane Career Fair for more information.
It is the 7th year that the Mekong Business Challenge has been organized, and for the first time that the final round has been held outside of Cambodia.
The next competition will start from September 2013 with the finals planned for spring of 2014, perhaps to be held in Laos!
