Global Entrepreneurship Challenge

 
 
Introduction
 
One of the major drivers of success in technological development is the ability for a small or a large company to take the technological innovation and develop a business around it. This insures the use of the idea in a product, a service or a process that solves problems for customers and/or extends their capabilities.

Small and large businesses need to develop a business plan that defines the product, process or service as well as establish the market needs for these products, processes or services. This is where customer validation and market projections help in developing a financial plan for how many resources are needed and the return of these resources to the original investors. The ability the management team to execute on the plan is also of importance to the decision-makers that examine the plan.

Whether the engineering students that engage in this learning process end up working for a large multinational corporation or for a small start-up, the knowledge gained from developing a business plan for a technology that one has helped develop is a skill that is necessary in today’s economy. The lessons learned from such an endeavor makes the engineer a better decision-maker and this helps the company that hires him/her in the long run.

Supporting entrepreneurship in engineering will help the discipline and will help the educational system produce better engineering for the world and ones that can serve their employers better in future implementations of new technological products and services. It will also develop the future leaders needed globally.
 
 
Call for Proposals
 
Interested students are requested to submit a 1-page proposal about their business plan at the button below. The proposal template can be can be downloaded by clicking button below. Top 15 teams will be selected for a Boot camp session, which will be held on 7th and 8th November, 2016 during the World Engineering Education Forum at Seoul, South Korea. All the groups will be mentored during the Boot camp for the final round where top 3 winners would be announced.
 
 
Prizes
 
1st Prize $5,000
2nd Prize $3,000
3rd Prize $2,000
 
Important Dates
 
Deadline for business plan submission October 9, 2016
First round results announcement TBD
 
Organizers
 
 
Sponsors
 
 
 
Inquiries
 
Rohit Kandakatla
Email : rohit.kandakatla@worldspeed.org
 
Ramiro Jordan
Email : rjordan@istec.org
 
Sul Kassicieh
Email : sul@unm.edu