Young environmentally conscious entrepreneurs in Malaysia can now look forward to the 2007/08 HSBC Young Entrepreneur Award (YEA) with the introduction of a new award, the 'Eco-Business Innovation Award.' This new feature aims to recognise ideas that have a positive impact on the environment.

"For this latest series, we have introduced the 'Eco-Business Innovation Award' in line with HSBC's continued global efforts in conserving the environment. Participants are encouraged to integrate environmental practices into their business models. Any entry that can generate environmental benefits are automatically eligible for this green award," said Ms. Elizabeth Wee, Head, Group Public Affairs of HSBC Bank Malaysia.

Ms. Wee added that this new green award is only being introduced in the local scheme for the participating countries and will not be judged at regional level.

Winners of the 2007/08 HSBC Young Entrepreneur Awards will win a self development fund of RM10,000 for the entire team, trophies, certificates, and the opportunity to compete in the regional competition in Hong Kong where they stand to a chance to win a business development fund of HK$100,000 and a winners trip to Hong Kong. Second and third place winners will receive a self-development fund of RM7,000 and RM5,000 respectively, trophies, certificates and a winners trip to Hong Kong.

First launched in Malaysia in 2001 after its initiation in Hong Kong in 2000, the YEA runs concurrently in six other countries - Hong Kong, Philippines, Thailand, Bangladesh, Vietnam and for the first time, Brunei. Each team should comprise up to three team members who are pursuing their diploma or degree studies at a local private or public institution of higher learning in Malaysia. Entries are open to one foreign student per team and the age limit for all participants is 25 years.

YEA has three rounds before the winning team will be able to compete at the regional levels in Hong Kong. Round One calls for online submission of the team's ideas. A workshop on Business Plan Writing will be organised for the 30 short-listed teams in Round Two as they will be required to expand their business ideas into a full business plan. Teams in Round Three will be invited to attend a Presentation Skills workshop prior to a presentation of their idea before a panel of judges.

"YEA judging criteria focuses on innovation and creative thinking, commercial viability and potential as well as communication skills," said Ms Wee. "Malaysia won the Regional title in 2005/06 and the Bank looks forward to receiving more fresh and innovative ideas this year and we hope to be in the running for the Regional Award this year," she added.

The official entry form can be downloaded from the YEA's official website at www.asiayea.com. Closing date for entries is 14 December 2007.