Global Business Challenge Competition invites application from candidates with the aim to encourage as much diversity in solution designs as possible. Just as there are no single right answers to complex problems, the nature of the issued challenge demands teams looks for highly innovative technologies and design novel business models that in their different configurations maximizes health care outcomes as well as broader economic, social and environmental benefits. Solutions may comprise any combination of new technology including existing technologies implemented in new ways. It could also involve novel business models to deliver achievable, practical and high impact outcomes.

Global Business Challenge Competition is held with the aim 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 by our future business leaders, both amongst themselves and with the business community.

The rules and guidelines are not all-encompassing and situations may arise that have not been covered. It is the expectation of the organizers and of the advisory board that any issues or disputes will be resolved in the spirit of the competition.

Prizes

Team prizes comprise two types of Prize; Global Business Challenge Competition Prize (totaling $125,000); and, Industry Prizes. Industry partners could also become a first partner to commercialization. Industry prizes specifically target to support finalist teams, or their collaborator, in their commercialization effort.

GBC Competition Prizes for 2019 are:

• Winner: $AUD100,000
• 2nd Place: $AUD15,000
• 3rd Place: $AUD10,000
• Industry Prizes: Yet to Announce

Further, the Global Business Challenge invites and encourages teams with ‘Concept Solutions’ that comprise technologies not yet able to demonstrate to compete for the GBC Competition Prize. However, they 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.

Eligibility

Team Members

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 2018

An eligible program is any business or technical discipline based postgraduate program of study.

Proposed team members not meeting these criteria may only participate with special permission of the organizers. 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.

Team Composition

Team membership shall comprise a minimum of two (2) student members and a maximum of four (4) eligible student members plus a nominated alternate member in the event of illness of one of the core team members. For teams to be as competitive as possible we strongly encourage a multidisciplinary approach with teams comprising students across multiple disciplines where possible.

Selection Criteria

Judges are members of the Australian and global business community as well as financial and technical experts selected by the organizers and the advisory board. The judging panel will comprise of different judges for each round of the competition.

Judging for Round 1 is a blind judging process. Moreover, teams are to ensure they remove all reference to their University and names of team members in their presentation. However, teams who do not abide by the rules will be penalized 10% of the assessment score.

Round 2 (Finals) requires assessment of the technical, business and finance models underpinning a team’s proposed solution. This will be judged from the two deliverables by teams: the Implementation Plan and the Presentation.

The Chair of the judging panel will chair the question period, lead the deliberations, cast the decisive vote in the event of a split panel and prepare an evaluation sheet for each team’s confidential use once the result has been determined. The chairman shall not score teams except in the event of a tie.

A copy of Judging Criteria will be provided to each team as part of the briefing material subsequent to registration.

How To Apply

All the eligible candidates may apply for the competition by filling up the online application form. However, the applicants must submit their application before the deadline.

Deadline

Candidates who are eligible for the Global Business Challenge Competition Prize may submit their application no later than 14 June 2019 for the first round entry.