The best business plans, compiled by Vietnamese young entrepreneurs and university students for Best Innovators Award 2013, has been selected.

Business plans that were chosen for the final round include developing a student shuttle service, producing probiotics, building up a social learning network, forming a high-standard homestay model, and creating a healthy melon brand.

This year, submitted business plans for the award program belong to various sectors such as agriculture, clean production, information technology, tourism and education. Though these are well-prepared in both content and form, there were very few ideas which are significantly innovative, according to Nguyen Duc Binh, director of the small- and medium-sized enterprises support center.

Besides candidates who are young business people, 48% of the participants are students from universities including RMIT International University, Wellington Institute of Technology, HCMC International University, HCMC University of Technology, and HCMC Medicine and Pharmacy University.

In comparison to the young entrepreneurs’ ideas, the business plans submitted by students are more creative and well-prepared. They are more likely to apply new scientific methods and progressive technologies in their plans. However, most of the students ideas are not feasible and or sustainable, as they lack real experience in doing business, Binh added.

Selected candidates who will take part the final round, which will be held on May 10th, are advised to think about long-term development and be able to demonstrate the feasibility and innovation of their business plans, according to Binh.