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The Global Business Challenge 2017, Prizes Worth Rs. 61 Lakhs: Register by June 30

The Global Business Challenge 2017, Prizes Worth Rs. 61 Lakhs: Register by June 30

The Global Business Challenge is a graduate business case competition to design sustainable solutions to global problems.The theme for the 2017 challenge is Renewable Energy.

The challenge is to ‘develop novel solutions that lowers the cost and/or reduces the risks associated with the transition from fossil-fuel based energy to achieving sustainability and reliability from renewable energy sources’.

About the Challenge

The Global Business Challenge (GBC) is being conducted as a partnership between QUT, The University of Queensland and Griffith University and with the support of government and industry.

Objective

The objective of the GBC is to leverage the exceptional intellectual talent from the worlds’ top business schools and universities to solve a major global problem. The competition is designed to challenge students to formulate business solutions for globally relevant and contemporary ‘wicked’ problems with global significance.

Importantly, the GBC is designed to foster cross-border and cross-discipline collaborations to create solutions that capture emerging transformative business opportunities for industries, regions and countries.

Solutions will consist of a combination of new and emerging technologies, as well as novel business models to support commercialization and global adoption of these solutions. Industry prizes are specifically targeted to support finalist teams, or their collaborators in their commercialization effort.

As collaboration is a key pillar of the competition, teams are encouraged to have strong collaboration with technology providers, from research and industry and government organizations.

Rounds

Teams will face off over two rounds to progress to the finals to be held in Brisbane from 6 November – 9 November 2017.

ROUND-1

Round 1 is a virtual round – open to teams of postgraduate students from both business and technical disciplines. Teams will pitch their ‘conceptual business solution’ comprising a combination of new technologies and innovative business models.

It is A virtual round comprising of a virtual pitch and the submission of a 5 page Executive Summary of the proposed “Concept Solution”.

Winners of Round 1 will be announced on the evening of 3 August 2017 at the 12 World Congress on Engineering Asset Management Dinner. The announcement will be streamed in real time to all participating teams.

FINALS

Seven finalist teams will be selected to come to an intensive 2 day lock-in phase where they will be required to develop a business case for a specified hypothetical project opportunity.

The hypothetical will address a set of constraints specific to each finalist team’s proposed solution and reflecting real-world issues in order to make their solution a reality. Finalists will present to a judging panel of CEOs from across industry, Government and finance sectors.

Eligibility

  • Team participation will comprise a mix of a maximum four postgraduate students from any combination of business and/or technical disciplines. However, in order for teams to be as competitive as possible we strongly encourage a multidisciplinary approach with teams of students with multidisciplinary expertise wherever possible.
  • Students must have been enrolled in any academic period between July of the previous year through to June of the year of competition. Students can be either a full-time or part-time and schools and universities may field multiple teams.

Prizes

  • Team prizes comprise two types of Prize; GBC Competition Prizes (totaling $125,000 or Rs. 61 Lakhs); and, Industry Prizes.
  • Industry partners could also become a first partner to a commercialization. Industry prizes are specifically targeted to support finalist teams, or their collaborator, in their commercialization effort.
  • Winner: $AUD25,000 plus $AUD75,000 Project Prize;
  • 2nd Place: $AUD15,000
  • 3rd Place: $AUD10,000
  • In addition to the cash prizes all non-Australian university finalists will be eligible for a travel subsidy of up to $AUD 12,500 plus having accommodation provided at no cost.

Important Dates

  • Registration closes: June 30
  • Round 1 Submissions due: Sunday, July 9
  • Finalists Announced: Sunday, August 3
  • Finals Week: Monday, November 6 to Thursday, November 9

Contact

Address: QUT Graduate School of Business, George Street, Brisbane, Queensland, AUSTRALIA 4000. Phone No. +61 7 3138 1057 Email: gbc@qut.edu.au

To register, click here and for more information on the challenge, click here.
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