Type of Funding
The 2019 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 Challenge for 2019 is to ‘develop solutions to improve trust and customer value in the delivery of financial sector services’. Participating teams of graduate students are asked to develop FinTech solutions addressing this theme. FinTech includes any technological innovation and automation of the financial sector. Examples may include advances in financial literacy, advice and education, as well as streamlining of wealth management, lending and borrowing, retail banking, fundraising, money transfers/payments, investment management etc.
Of particular interest are solutions that not only provide value to financial institutions but also the customer, including solutions able to build and enhance trust between institution and the customer.
The competition is to be conducted 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 from 30 September to 3 October 2019.
The aim of the 2019 GBC is to identify real potential implementable solutions to a global business challenge and provide a learning experience for the students that will encourage healthy competition, professionalism, and interaction amongst themselves and with the business community.
The 2019 Global Business Challenge (GBC) is conducted as a partnership between The University of Queensland and Griffith University 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 AUD100,000, while the 2nd Prize winner receives AUD15,000 and the 3rd Prize winner, AUD10,000.
Industry Prizes are yet to be announced. 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 free accommodation.
Entrants must be students who are enrolled in any academic period between July 2018 through to June 2019 in eligible postgraduate study programs. In other words, they have to be currently enrolled in an eligible program of study or have been enrolled in an eligible program of study during 2018.
Eligible programs are any business or technical discipline based postgraduate program of study (such as MBA, Masters Degrees or other relevant postgraduate degree programs in business or technical disciplines).
They have to participate in teams comprising a maximum of 4 postgraduate students from any combination of business and/or technical disciplines. A multidisciplinary team is encouraged. Students can be either full-time or part-time and schools and universities may field multiple teams.
Teams with ‘Concept Solutions’ 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.
Submissions are to be done online by 14 June 2019.