“Lily&Beauty Cup” The 29th Corporate Profit Model Final of Antai EMBA of SJTUTime：2018.11.02 Publisher：EMBA Office
In the era of "mass entrepreneurship, innovation", thousands of people have ignited the dream of innovation and entrepreneurship, and also led more social resources to penetrate into the field of venture capital. In 2018, China's economic and social development was affected by the complex situation at home and abroad, so it is particularly important to make accurate and scientific assessments of development trends and choose carefully. Who can seize the opportunity to win wisly? Who will be the next "money-making" miracle?
On the afternoon of November 2, 2018, “Lily&Beauty Cup” the 29th Corporate Profit Model Final of EMBA of Antai College of Economics and Management, Shanghai JiaoTong University (hereinafter referred to as "Antai EMBA") was staged in Xuhui campus of SJTU, and the "Assistant Is Coming" team won the first place in the final. The contest was hosted by Mi Jia from Antai EMBA 2016 Autumn Class 1, Zhou Yijun from 2016 Autumn Class 2, and was exclusively sponsored by Shanghai Lily&Beauty Cosmetics Co.,Ltd.
Criss-Crossing in Seeking Theories and practices
This year is the 100th Anniversary of Antai of SJTU. More than 300 audience members and the contestants celebrated the centennial anniversary of Antai with the most wonderful sharing. Professor Chen Fangruo, dean of ACEM, said that “a healthy business school should be a criss-crossing healthy development model, seeking a balance between theory and practice. As the most representative characteristic courses and competitions of EMBA, it fully reflects the characteristics of Antai of close combination of theory teaching and business practice. We hope that through the study and practice of Antai EMBA, the business of the company at all stages can be promoted to a new height to help small and medium-sized entrepreneurs transform and help themselves grow at the same time.
Professor Ren Jianbiao, Assistant Dean of ACEM and Director of EMBA program, introduced that “The Profit Model Competition has been in operation since the establishment of the EMBA program in 2002. In this small stage of the competition, projects that make positive contributions to the industry and continuously shining and heating on the big stage of economic and social development have been born. In today's society, the second half has begun, Internet of Things and artificial intelligence have been a hot topic, and many of today's finalists have such genes. You’ve stepped on the trend of industrial change, the direction of future development.
Huang Tao, the founder and CEO of Shanghai Lily&Beauty Cosmetics Co.,Ltd. as the title sponsor of this competition, shared his understanding of management after more than 20 years of entrepreneurship. He vividly divided the Chinese character “管理” (which means management in English) into “管”（which means water pipe in English） and “理” (which means unclogging in English). He said: “everybody is fixing water pipes, why do you have a smoother flow of water? A good profit model is one that can improve social efficiency. I hope everyone can fix a good pipe.” At the same time, guests attending this competition include: Zhang Jiaqi, professor of science department, School of Management, National Chiao Tung University (NCTU); Ma Wenyu, Director of Antai EMBA Center of SJTU; Zhou Daoli and Yuan Zhongxia, Deputy Director of Antai EMBA Center of SJTU. In addition, eight alumni from NCTU came to witness the final.
Winning wisly and Creating profits
The Corporate Profit Model competition of Antai EMBA is organized by group competition of students, it is divided into three stages: preliminary, semi-final and final. In the preliminary stage, the participants form a “Corporate Profit Model Competition Team” with 7-8 people on a voluntary basis based on mutual understanding and their own situation. Through the pre-competition course coaching, after two months of report writing , the top 80% of the participating teams in the preliminary evaluation by group judges will enter the semi-final.
In the semi-final, after the written review of the experts in and out of the school, 10 teams finally entered the final. The 12-minute preaching, the 12-minute defense, this 24-minute time condensed the hard work of the participates over the past year. Finally, the first prize, the second prize, the third prize, the winner prize, the encouragement prize and the best presentation prize came out.
The First Prize Assistant Is Coming
The Second Prize Mushiny Intelligent Storage, Asknow
The Third Prize Green Giant, Tongda, Healthy Octopus
The Winner Prize Parking, Kewuku
The Encouragement Prize Car Creation, Aisida
The Best Presentation Prize Mushiny Intelligent Storage, Assistant Is Coming, Healthy Octopus, Kewuku
As a best practice of business school courses, the cases of the Antai EMBA Profit Model Competition has been accompanied by changes of global economic and technological situation, presenting different characteristics of the times.
Among the 10 teams entering the final, there are the “Yunyi Technology” project focusing on the field of new energy and taking wet method diaphragm technology as the core of competition; the innovative “Fun Science Popularization-Love Question” project focusing on experiential children's science education; the “Kewuku” project dedicated to providing urban residents with economical and convenient idle items “external hard drives”; the industrial innovation platform “Car Creation” project of China’s first automobile “incubation + consulting + investment bank + investment”; the “Mushiny Intelligent Storage” project to provide an overall solution for the implementation carrier with a stable and efficient intelligent warehousing robot; the third-party educational evaluation “Aisida” project based on the theory of multiple intelligences to construct comprehensive quality evaluation of children; the “Parking” project with community parking management solution; the “Yike" project focusing on microbial organic waste treatment system; and also a leading domestic intelligent interactive platform "Assistant Is Coming" project.
The representative who won the first prize shared that “It was in 2017 at the beginning of enrollment when I first heard the Profit Model Competition. At that time, we started the EMBA study, watching the intense finals, listening to one after another wonderful project statement, amazed at the wisdom of the seniors and the judges' wonderful questions and comments, silently expecting that the one on the stage next year will be us. A year later, this expectation has come true. I have three feelings: good projects are to adapt to the times and lead the future; excellent team is the cornerstone of a successful project; excellent projects need an excellent platform. But the biggest feeling is being grateful and forging ahead.”
Trenchant Expert Comments
This competition has nine scholars and experts, and they are from the fields of universities, investment institutes, management consulting, and innovation and entrepreneurship: Dr. Yu Yin, Deputy Party Secretary of Antai of SJTU, Professor of Department of Applied Economics; Fei Yiwen, Assistant Professor of Department of Finance of Antai of SJTU, and the EMBA course professor; Yu Ying, the EMBA course professor; Wang Zhidong, the chairman of “xnw.com” and the founder of “sina.com”; Zhang Zhaolin, co-founder and honor chairman of Hanlan Consluting; Wang Pu, founder and chief expert of Peking University Vertical Management Consulting Co., Ltd.; Huang Hui, managing partner of Ivista Capital; Fan Huizhong, chairman and founding partner of Befor Capital; Qu Weidong, the founding partner of Donglin Capital, to protect the professionalism, objectivity and fairness of the competition.
In view of the 10 profit model projects in different fields, the judges conducted reviews from the live perspectives of performance, teamwork, reporting slices, industry and other dimensions. Authoritative comments, incisive points, and ingenious touch points, in the warm and intense defense session, give students more management wisdom and practical experience enlightenment, and also guide everyone to reflect on the highlights and shortcomings of their projects, constantly encouraging students to make persistent efforts, from creativity to practice, from innovation to excellence.
Yu Len: Entrepreneurship is from some small things, but today we see a lot of students have great ideas. That's not a bad thing. The problem is that when you start a business, you may get lost and don't know where to focus on. Everything is good and needs to be done, which may lead to mistakes and loss.
Yu Ying: The Internet is not necessarily a very good business direction now. I think the dividend of the Internet, including the bonus of the mobile Internet, is clearly over. The current direction is not to connect buyers with sellers through the platform, but to make it intelligent through data processing. We have a number of projects that may need to be reconsidered, because the market is very cruel and wonderful feelings do not necessarily give you the opportunity
Zhang Zhaolin: The Internet era is dynamic, and entrepreneurs cannot determine strategies from the beginning, so business management itself is a strategy. The strategy means that it must be quick. Once copied, you are either a pioneer or a martyr. And each project needs one or two key elements of success. Keep it firmly and never lose it.
Wang Pu: To start a business now, we should simplify the process. Firstly, the product technology. How about the product technology compared with peer？ How about the product or the technology? Secondly, the customer marketing. Who is the customer and whether there are customers willing to try the product. Thirdly, the team. How about your leader's toughness, tolerance and passion?
Wang Zhidong: The most important thing is to follow your heart. If you can do anything to achieve your goals, you will do whatever you want; if you have a bottom line, you will definitely do it according to your own bottom line. When you are doing something, ask your own heart. Where is your bottom line? Where are the goals you are pursuing? In fact, these two define the upper and lower limits of what you do. There is no problem doing things within this range.
Fan Huizhong: The capital winter is coming, I want to give you some suggestions: First, you should pay special attention to your cash flow, and do not continue to take the burn money model. Second, you also need to pay special attention to your profits. In the past few years, under the background of the rapid growth of Chinese capital, the speed of burning money model has become the first pursuit. I can tell you with great confidence that in the next two or three or even three or four years, the company's health and stability is much more important than the speed. At this time, all the models must consider the problem of making money, the business model of burning money to quickly build capital may be in the past, and today it will not work.
Qu Weidong: Entrepreneurship is a very difficult thing, not just the glory side of successful entrepreneurs. When you go out to start a business in the future, you must do a lot of research and then decide whether this project is a suitable project, and whether there is a real market? There are a lot of fake needs, therefore we must identify the real requirements, and build a good team.
Since the beginning of the project, Profit Model Competition has been held for 29 sessions. As a complete integrated experiential teaching model, many excellent cases emerged to be directly industrialized, or received capital injection, or finally successfully listed at home and abroad. In recent years, many projects focusing on new fields such as artificial intelligence, new energy, Internet of Things, big health, and the Internet have participated in the competition.
As a expansion of this competition, the “Cross-Straits Profit Model Invitational Competition” has been held for four sessions, which has established a good platform for commercial communication and exchanges for Cross-strait EMBA entrepreneurs and made positive contributions to cross-strait economic cooperation and exchanges. Based on this, Antai EMBA ranks 8th in the world in the ranking of the business school's authoritative ranking, the Financial Times Global EMBA, and has consistently ranked among the top 10 in the world for four consecutive years (2015-2018). It can be said that the Corporate Profit Model Competition of Antai EMBA has become a bellwether for business schools to move from theory to practice and then to industry. It not only provides intellectual support for the vast number of innovative and entrepreneurial enterprises, but also becomes a booster for innovative and entrepreneurial elites to grow into industry leaders.