On Friday (May 24th), SolBridge International School of Business proudly hosted the Business Plan Competition, inviting visionary minds to shape the future of electric mobility. This year's topic centers on bringing creative business ideas and solutions that drive sustainability, efficiency, and market leadership for ecarPlug, an innovative electric vehicle company ⚡️ based in South Korea. Students were guided and evaluated by 4 judges from SolBridge: Prof. Chang-Joon Choi, Prof. Gilbert Tumibay, Prof. Noor Azlinna Azizan, and Prof. Sara Khawar.

Below are the winning team and their business proposals:

🥇1st Place: Sol Synergists (Chaewon Kim, Srun Sokuntheary, Aikokul Abdivalieva, Eaindray Kyaw Soe)

“Our business plan for ecarPlug focuses on establishing a strong presence in the Southeast Asian EV charging market. Key strategies include partnering with OEM clients and construction projects of retail stores, leveraging government grants and the company’s competitive advantages in cost-effectiveness and advanced technology. Our revenue model combines manufacturing exports, installation fees, and direct sales, with a focus on creating brand awareness and increasing profitability through strategic partnerships. We projected the market penetration to be about 5% in the next 5 years, with a 16~39% CAGR, emphasizing scalability and sustainability in the growing market”

🥈2nd Place: Green Genz (Diana Zhanakulova, Dorea Makuza, Zayniddinova Nigina Oybek Kizi, Ivasenko Vera)

“Team Green Genz is proud to present our innovative plan for ecarPlug, a Korean electric vehicle charging station company, at the SolBridge Business Plan Competition. Our proposal focuses on strategic expansion into Uzbekistan's thriving EV market. By fostering partnerships with local Uzbek companies and leveraging the immense popularity of K-Wave culture for marketing, we aim to capture a significant market share. This initial venture into Uzbekistan serves as a step for further expansion across Central Asia, ultimately positioning ecarPlug as a leading force in the current electric transportation revolution”

🥉3rd Place: SheSpark (Hanna Ayake, Jiyeon Kang, Gazikhodjaeva Saida, Ishmurzina Mariia)

“SheSpark, we are dedicated to boosting EV adoption by exporting and expanding our charging network across European Union countries. We will strategically offer diverse charging solutions, and implement user-friendly technologies with simplified payment systems. By partnering with property developers, EV manufacturers, and municipalities, we‘ll build a robust infrastructure. Our consumer education initiatives will drive awareness and demand, ensuring a strong market presence throughout the EU”

Congratulations to the top 3 winning teams and the rest of the teams for their hard work and dedication in the competition. The winning team will be selected to compete in the upcoming International Business Plan Competition this Fall.