GRADUATE BUSINESS CASE COMPETITION

THE 2020 CHALLENGE ‘RESOURCE RECOVERY & THE CIRCULAR ECONOMY’

 

The challenge for the 2020 Global Business Challenge is to ‘develop novel and sustainable solutions to aid in resource recovery and promote the circular economy’. 

DUE TO COVID 19 TRAVEL RESTRICTIONS, THE 2020GBC FINALS WILL NOW BE VIRTUAL. DETAILS WILL BE PROVIDED AT THE TIME OF ANNOUNCEMENT OF THE FINALISTS.

Proposed solutions may cover any domain within the theme and one or more points within the value chain.

Proposed solutions may include any combination of new technologies as well as novel business models that support widespread adoption and successful commercialisation. As outlined in the challenge statement, proposed solutions that result in:

Waste reduction;

Reduction of greenhouse gas emissions and/or;

Reduction in greenhouse gas emissions

Improved better environmental outcomes

Team

Team participation will comprise a mix of a maximum four postgraduate students from any combination of business and/or technical disciplines.

Rounds

Teams will face off over two rounds to progress to the finals to be held in Brisbane from 27 October – 30 October 2020.

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. Round 1 submissions include a 5-page Executive Summary and a 3-minute solution pitch. Winners of Round 1 will be announced on 11 September 2020.

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.

Prizes

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 2020 are:

Winner: $AUD100,000

2nd Place: $AUD15,000

3rd Place: $AUD10,000

Industry Prizes: To be announced

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.

Selected finalists need to provide the required information for payment of prizes prior to attending the finals. This will help expedite payment before the end of the year.