A team of three students from RMIT Vietnam have for the first time won the RMIT Business Plan Competition.
One of the biggest competitions of its type in Australia, the RMIT Business Plan Competition is open to TAFE, Diploma, undergraduate and postgraduate students across all RMIT campuses in Australia, Vietnam and Singapore.
This year a total of 136 teams entered the competition, with 43 of them from Vietnam. Total prize money to all winners in the 2013 RMIT Business Plan Competition was more than two billion dong ($100,000AUD).
TixZone of RMIT Vietnam has won the $25,000AUD RMIT University First Prize with their innovative business idea to create an efficient, secure and reliable online ticketing system. TixZone's success was announced at the gala awards ceremony held in Melbourne on 10 October.
Team leader and RMIT Vietnam Bachelor of Business (Economics and Finance) student Nguyen Thao Vy said it was "a dream come true" to receive the acclaim of the judging panel and become the first team from Vietnam to win the competition.
"I would like to thank my team members, Nguyen Khoa Bang and Nguyen Trung Duc, and in particular RMIT Vietnam Entrepreneurship Lecturer Eytan Schmal who supported us throughout the competition process – and all those who supported us!" Vy said.
"I want to also thank RMIT University for providing this prize, and for bringing our team to Melbourne for the award ceremony.
"This is a once in a lifetime experience - and I will never forget it!"
TixZone is an online platform offering full ticketing solutions as well as service packages for event organisers. Once they have established the ticketing system, the start-up will work on providing a secure system for sellers and buyers to trade their tickets online.
This year, RMIT Vietnam had nine teams who made it to the second round of the competition. Together with TixZone, RMIT Vietnam team Snipers also reached the finals in Melbourne with their idea of a memory training school that provides memorising techniques to improve the current and next generation's memorisation ability.
Within the competition, the teams worked closely with industry mentors to develop their business plans and build invaluable skills and networks to help them turn their start-up ideas into reality.
RMIT University Vietnam President Professor Joyce Kirk congratulated the outstanding achievement of team TixZone and paid tribute to all teams from Vietnam who took part in the competition this year.
"The magnitude of the success of our students needs to be considered in the context of the 45,000 students on the Melbourne Campus and 6,500 students on the Vietnam Campus and the inclusion of MBA students in many of the Melbourne teams," Professor Kirk said.
"This is a tremendous result for RMIT Vietnam students, and reinforces the quality of the programs we are delivering here in Vietnam."
Now in its 13th year, the competition has attracted the participation of more than 3,300 people since 2001, with many past competitors now running successful businesses in Australia and around the world.