Type of Funding
The 2017 Global Business Challenge (GBC), a graduate business case competition to design sustainable solutions to global problems, is inviting entries from teams comprising Masters degree students in business or technical disciplines. The theme for the 2017 Global Business Challenge is ‘Renewable Energy’, and so 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’.
Participating teams of graduate students are asked to develop solutions covering cover any domain within the renewable energy theme and 1 or more points within the value chain (generation, distribution and storage). Proposed solutions should include demonstrable new technologies as well as novel business models that support widespread adoption and successful commercialisation.
The competition is to be run over 2 rounds. Round 1 is a virtual round comprising a virtual pitch and the submission of a 5-page Executive Summary of the proposed “Concept Solution”. Round 2 (Finals) comprises an intensive week-long competition round held in Brisbane, Queensland. The Global Business Challenge is conducted as a partnership between Queensland University of Technology, The University of Queensland and Griffith University and with the support of the Australian government and industry.
There are 2 types of prizes: GBC Competition Prizes (totalling AUD125,000); and Industry Prizes. Under the GBC Prizes, The 1st Prize winner walks away with AUD25,000 plus AUD75,000 Project Prize, while the 2nd Prize winner receives AUD15,000 and the 3rd Prize winner, AUD10,000.
Industry partners could also become a first partner to a commercialisation. Industry prizes are specifically meant for supporting finalist teams, or their collaborator, in their commercialisation effort.
In addition to the cash prizes all non-Australian university finalists will be eligible for a travel subsidy of up to AUD 12,500 and accommodation provided at no cost.
Entrants must be students have been enrolled in any academic period between July 2016 through to June 2017 in eligible study programs, namely, business or technical discipline-based postgraduate programs of study, such as MBA, Masters Degrees or other relevant post-graduate degree programs in business or technical disciplines. They have to form teams in order to participate.
Each team has to comprise maximum 4 postgraduate students from any combination of business and/or technical disciplines. A team of students with multidisciplinary expertise is strongly encouraged. Students can be either full-time or part-time and schools and universities may field multiple teams.
Teams are encouraged to collaborate to the extent necessary to ensure they design a proposed solution of maximum impact related to the stated challenge. This collaboration may be achieved in a number of ways:
- Teams may include eligible students from multiple universities or graduate business schools
- Teams must have a coach who is a staff member of a represented university
- Teams may collaborate with 1 or more mentors/advisors such as technical or business experts
- Teams may include 1 or more technology solutions from 1 or more organisations including universities, research organisation or industry organisations.
Teams with ‘Concept Solutions’ that comprise technologies which could not yet be demonstrated are still encouraged to compete for the GBC Competition Prizes but may be ineligible for Industry Prizes.
Registration is to be done online by 30 June 2017.