Entrepreneurship Competition Vilnius is an annual entrepreneurial event involving only the best students of Economics and Management from the whole Europe. It is organized by Vilnius University (Lithuania) Faculty of Economics Students' Representation (EFSA). The main language of the competition is English.

The Concept of ECV

A team must be formed by four students of the appropriate subjects; there are no restrictions regarding age, gender, institutional affiliations, race or nationality. While proceeding it gets many tasks, which can involve an idea of generating and implementing a new product or service in the market, creating strategies for production, marketing and finances. However, the main goal of the competition is crucial one; by dealing with different business problems students have to find unexpected but adequate solutions. Therefore Entrepreneurship Competition Vilnius is a perfect chance to evaluate managerial knowledge and key skills in the real business world.

The Admission

The initial stage of ECV'10 proceeds from 30 November, 2009, to 3 February, 2010. It is made up of two steps; firstly, a four member team must fill in the registration form, where both background information and motivation must be shown. Therefore team must answer a few personal and general questions, upload their CVs and at once produce a motivational video (more info below). This part of admission ends on 24 January, 12:00 noon GMT+2.

Motivational video. It induces candidates to stand out in the competition and motivate their participation. Furthermore, the restrictions of the clip require up to 20 megabytes in size and up to 1 minute in length and answer the following questions: Why do you want to participate in this competition? Why should you participate in this competition? What are you expecting from this competition?. No other barriers are put, so a team can create either a cartoon or a drama movie. Finally, the evaluation criteria will be the answered question and team's imagination.

The second step of admission begins on the 25 January, 2010, by introducing the case study task, which relates to the issues of present business world. Within 11 days (until 5 February, 5:00 P.M. GMT+2), candidates must analyze and provide us a thorough report about it. It is evaluated by a competent jury of well-known people; moreover, the points received from the case study is of greatest value. Eventually, all the points are calculated, and the best twelve teams are invited to the main event. The participants of ECV'10 are announced on 15 February.

N.B. The organizers are obliged to repeat applicants of the need to fill in all the gaps carefully as either CVs or team questions are assessed respectively!

The Main Event

First of all, every team is accommodated in a hotel room (full board) for free during the main event. All the costs concerning arriving to Vilnius are covered by the participants. Also participants are guided by mentors, a student who guide its team in the main event.

The greatest part of Entrepreneurship Competition Vilnius 2010 is held from 4 March till 6 March, 2010. After being registered participants are welcomed in an opening ceremony, which is followed by topical lectures held by noted managers and entrepreneurs. As the official part of the first day ends, teams are able to have some leasure time and sightsee in the marvelous Old Town of Vilnius.

On the second day participants meet their first task, the simulation game CESIM, which stimulates a real-world economy or business. CESIM provides corporations, universities, and other educational institutions easy-to-use and cost-effective business simulations that can be integrated in various business courses. Moreover, this year's game is very sophisticated and intriguing, providing a big picture of challenges closely connected to a real business environment. As teams get their fictional companies, they must make decision based on sales, advertising and many more. Therefore the simulation game is a place, where the great accuracy and perceptive strategies bring the victory. 

In addition, one assignment stands ahead on the third day. This time an intriguing case study task must be analysed and worked out only within a few hours. Later on, the reports are introduced in a presentation session, full of spectacular students' speeches; meanwhile, the jury formed by many famous public men assess the performance of all the teams. Finally after the last task ends up, the award ceremony dots all the i’s and crosses all the t’s. All points are calculated, the final words are said and winners are awarded with both valuable monetary and material prizes dedicated by the sponsors and organizers. This party will conclude the Entrepreneurship Competition Vilnius 2010.