ZaraCom Technologies Inc. knows firsthand how the University of Maryland's China Business Plan Competition can help a company Go for the Gold! Since winning last year's contest, the software company that helps wireless carriers optimize their networks attracted bids from top multinational companies, closed a successful round of funding, and secured key partnerships with top mobile providers. ZaraCom partnered with China Mobile and is currently working with the company on a project for the Beijing Olympics later this summer.

ZaraCom took the grand prize in the 2007 competition and used the US$25,000 for marketing and sales to lock in the China Mobile contract and is anticipating accumulating $3.5 million in contracts with the carrier in the next 18 months. ZaraCom's innovative technology can pinpoint wireless network problems and save telecommunications companies millions in infrastructure costs - exactly what the industry is looking for. As a result of the China Business Plan Competition win, Executive Vice President Lisa Chan said the company has attracted the attention of IBM and a large French technology company interested in buying the technology. The 2002 startup has also expanded, now employing nearly 50 worldwide.

Throughout the year, they've received valuable mentorship from the experienced entrepreneurs at the Dingman Center for Entrepreneurship at the University of Maryland's Robert H. Smith School of Business, sponsor of the competition. The company has completed its first round of funding, opened a second, and set its sights on continued expansion. The Dingman Center, the State of Maryland and Montgomery County in Maryland are investors in ZaraCom.

The support has opened the door with U.S. carriers including AT&T, Verizon Wireless and Sprint Nextel. While initiating concepts for paid projects with major carriers, ZaraCom also is developing new accounts with partners to penetrate smaller carriers in the MidWest and West Coast. The company has been selected by the WiMax Forum as the only software vendor providing network planning in the world's first WiMax test bed, giving ZaraCom exposure to 60 global WiMax carriers to showcase its powerful tool capabilities and benefits.

"We've made a lot of progress since the competition," Chan said. "And for all of the progress, we thank this competition held by the Smith School."

With China buzzing as one of the fastest growing economies in the world, entrepreneurs struggle to make their companies stand out from the crowded pack to gain market share, and to secure major corporate partners and funding.

"Winning the China Business Plan Competition definitely helped us attract attention," said Sherry Yu, ZaraCom public relations manager. "The competition helps to legitimize your company - "being somebody" is very important."

Yu said ZaraCom's greatest strengths are its strong team and the entrepreneurs' belief in the company mission and the technology. She advises competitors in this year's competition to work hard on their business plans and presentations, but to realize the value in the experience, no matter the outcome.

"Whether you win or not, the competition builds a company's confidence and leads to future success."