The 2014 China-UK Entrepreneurship Challenge kicked off with an opening ceremony on Monday at the University of East Anglia's Norwich Business School in Norwich, England.

The China-UK Entrepreneurship Challenge, an annual event now in its 7th year, was jointly launched by the British Council and China's Confucius Institute Project to encourage new business ventures in China and the UK.

At the opening ceremony presided by Prof. Raphael Markellos, Chair of Finance at the business school, keynote speaker Dr Andy Wood OBE, chairman of the East Anglia Local Economic Partnership, pointed out opportunities for collaborations between East Anglia and China. Andrew Barnes, senior partner of Howes Percival LLP, stressed the importance of working with China. James Stewart, partner of Menlo LLP and former partner of ECI, UK's longest established private equity company, envisioned future venture capital cooperation between the two countries.

Supported by universities, governments, and business communities in both China and UK, the competition has attracted an increasing number of participants from leading universities in both countries to bring together existing businesses and put forward new student-led start-up plans, while the competition offers them a platform to build up commercial relationships and explore market opportunities. This is the first time this innovative platform comes to the east of England.

The best business plan will be awarded an investment opportunity of £250,000, and another 3 teams will be selected to win a £5,000 cash prize each. Initial registration, proposal submission and selection deadline is 5pm 14th April 2014.

For more information, please visit: www.chinaukchallenge.com