A consortium of three Brisbane universities are set to host a Global Business Challenge (G20 GBC), which gives away more than $100,000 in prize money and is a cornerstone event in the G20 program.
The G20 GBC is the first global graduate business case competition that is also aimed at developing solutions to global problems. It is focused on rewarding practical solutions to global challenges, which will foster growth, boost participation, create jobs and build the resilience of the global economy.
The event will be held over two rounds: an initial virtual elimination round, followed by a live final held at QUT’s Gardens Point campus immediately prior to the G20 Leaders Summit, which runs 15-16 November.
Teams can be comprised of both business and technical graduate students as well as the inclusion of multiple proposed technological solutions from any technology provider (not just their own institution).
Teams selected to compete in the finals compete for:
- 1st Prize of $US100,000
- 2nd prize of $US15,000
- 3rd Prize of $US10,000
- Opportunities for internships with global corporations
- The opportunity to have the winning solution and techology presented to the global media attending the G20.
For non-Australian finalist teams, a travel subsidy of $US10,000 will be made available to each team.
QUT Vice-Chancellor Professor Peter Coaldrake said the G20 GBC is a world-first event that will bring together teams comprised of graduate students, industry members and researchers, all competing to develop innovative solutions to the worldwide problem of water scarcity.
“The G20 GBC will become an annual event, ensuring Brisbane prominence on the international business case competition calendar,” he said. “Linking the event to the G20 will ensure the challenge focuses on developing solutions to global problems.”
Professor Coaldrake said the business challenge theme of water scarcity aligned perfectly with the 2014 G20 economic development agenda.
“Water issues are an impediment to health and wellbeing in poverty-stricken developing nations and a constraint to economic development in developed economies,” he said.
UQ Vice-Chancellor and President Professor Peter Høj said the GBC would identify emerging knowledge leaders from a variety of nations, and channel their talents towards innovations in sustainable water use and management that would have widespread applications.
“This is an unprecedented opportunity for highly-skilled graduate students, technologists and researchers to collaborate on proposals that will withstand proof-of-concept testing and will potentially assist communities worldwide,” Professor Høj said.
More information can be found about the competition here.