The 2017 Global Business Challenge (GBC) is a graduate business case competition to design sustainable solutions to global problems. The theme for the 2017 Global Business Challenge is Renewable Energy.
The challenge for the 2017 GBC is to identify 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.
Proposed solutions may cover any domain within the renewable energy theme and one 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.
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 2016
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 commercialisation and global adoption of these solutions. Industry prizes are specifically targeted to support finalist teams, or their collaborators in their commercialisation 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 organisations.
As the first and largest competition of its type in the world and its partners have committed to host the event for an initial seven year period. This will see the GBC has become the new benchmark in Graduate Case Competitions with a focus on delivering implementable and practical solutions to the world’s biggest challenges.
Teams will face off over two rounds to progress to the finals to be held in Brisbane from 6 November – 9 November 2017.
The competition is to be run over two 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 weeklong competition round held in Brisbane, Queensland.
The finals process involves:
- A 48 hour lock-in phase where teams need to develop a business case for a hypothetical application for their proposed solution. This hypothetical may be determined by the awarding prize giver/s from our industry and government partners based on specific business objectives of the Partner.
- A CEO pitch (20 Minutes Plus 20 minutes Q&A defence)
The winners are announced at the Gala Dinner at the conclusion of which the following year’s challenge is officially launched.
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. 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.
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.
Team prizes comprise two types of Prize; GBC Competition Prizes (totalling $125,000); and, Industry Prizes.
Industry partners could also become a first partner to a commercialisation. Industry prizes are specifically targeted to support finalist teams, or their collaborator, in their commercialisation effort.
GBC Competition Prizes for 2017 are:
Winner: $AUD25,000 plus $AUD75,000 Project Prize;
2nd Place: $AUD15,000
3rd Place: $AUD10,000
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.
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.
How to apply
Deadline: 30 June 2017 [GMT + 10:00 Brisbane]
QUT Graduate School of Business, George Street, Brisbane, Queensland, AUSTRALIA 4000
+61 7 3138 1057