The Silk-Road Entrepreneurship Network and the Global Research Centre is inviting applications for the Global Business Challenge at the University of Queensland in Australia 2020.
The Global Business Challenge is a Graduate business case competition to design sustainable solutions to global problems. 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.
The 2020 GBC is hosted at the University of Queensland, with the event being managed by, QUT (The Organisers), with the assistance of an Advisory Board, Technical Advisors, executive judges from industry and government as well as our many student volunteers.
The objective of the GBC is to leverage the exceptional intellectual talent from the worldsâ€™ 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 â€˜wickedâ€™ problems with global significance.
The challenge for the 2020 Global Business Challenge is to â€˜develop novel and sustainable solutions to aid in resource recovery and promote the circular economy
Worth of Award
- Team prizes comprise two types of Prize; GBC Competition Prizes (totaling $125,000); and, Industry Prizes.
- Industry partners could also become a first partner to commercialization. Industry prizes are specifically targeted to support finalist teams, or their collaborator, in their commercialization effort.
- GBC Competition Prizes for 2019 are:
- Winner:Â $AUD100,000
- 2nd Place:Â $AUD15,000
- 3rd Place:Â $AUD10,000
- Industry Prizes:Â To be announced
- Teams with â€˜Concept Solutionsâ€™ that comprise technologies not yet able to be demonstrated are still encouraged to compete for the GBC Competition Prizes but may be ineligible for Industry Prizes.
- 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.
Participating students within a team must meet the enrolment criteria being either:
- Currently enrolled in an eligible program of study OR
- Have been enrolled in an eligible program of study during 2019
- Teams competing in previous GBC competitions may compete again (subject to meeting eligibility criteria), however, solutions must NOT have been the basis of any previous submission in which any team member has completed.
- Teams who have made the finals in a previous competition may not compete again, however, past participants may coach a current team.
- An eligible program is any business or technical discipline based postgraduate program of study (such as MBA, Masters Degrees or other relevant post-graduate degree programs in business or technical disciplines).
- Proposed team members not meeting these criteria may only participate with special permission of the organizers.
How to Apply
Teams will face off over two rounds to progress to the finals to be held in Brisbane from 28 September â€“ 1 October 2020..
- Round 1 is a virtual round â€“ open to teams of postgraduate students from both business and technical disciplines.
- Teams will pitch their â€˜conceptual business solutionâ€™ comprising a combination of new technologies and innovative business models. Round 1 submissions include aÂ 5-page Executive SummaryÂ and aÂ 3-minute solution pitch.
- Winners of Round 1 will be announced on 6 July 2020.
- 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 teamâ€™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 the industry, Government and finance sectors.
Deadline: Application closesÂ June 19, 2020