Updated: Friday, September 11th, 2009

The Dingman Center for Entrepreneurship at the University of Maryland's Robert H. Smith School of Business will be offering business students the opportunity to participate in international business firsthand.

The school announced it will enter its fifth year of collaboration with Peking University's Guanghua School of Management in Beijing to integrate the 2010 China Business Plan Competition into its MBA program.

The contest will require students from both schools to form teams of three to five members and work together to develop business ideas before coming together in China on January 15, 2010, to compete against one another for a cash prize of $10,000.

Asher Epstein, managing director of the Dingman Center for Entrepreneurship, said the program aims to teach students that "the universal elements of entrepreneurship and innovation – a solid business plan, a strong team and a viable market – apply no matter where you start a business."

The ability to "collaborate globally [is] a crucial skill" for success in a business career, he added.

PayScale.com, a research company, reports that average salaries for holders of MBA degrees ranged from $73,510 to $171,583 in 2008, depending on the field, position and years of experience.

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