Five HKUST MBA students won the top prize at the Young Entrepreneurs Development Council Entrepreneurs' Challenge (YDC E-Challenge) held in June 2006. The event has been organized by YDC in collaboration with Stanford University since 2000. It is designed to provide university students with exposure to the entrepreneurial community and help participants develop the skills required to facilitate an entrepreneurial spirit and mindset.
The year's YDC E-Challenge received more than 200 proposals. Ten finalists were selected. The HKUST team, True Art, included Keith Tsui, Georgios Kritsotakis, Piyush Sharma, Sebastian Kim and Jan Sy. They presented their business ideas to a judging panel of seasoned entrepreneurs, venture capitalists and other professionals. The HKUST team was awarded the Grand Prize with a cash award of HK$30,000, plus the opportunity to represent Hong Kong to join other regional or global business plan competitions, such as Startup@Singapore and "The University Business Plan Proposal of China"