Business
Description
The Business category invites participants to demonstrate their entrepreneurial acumen and innovative thinking by addressing current economic challenges and opportunities. Open to both individuals and teams of up to two participants, this category encourages the development of business plans, case studies, market analysis, or theoretical solutions in diverse areas of business and economics.
Participants are encouraged to apply strategic thinking, problem-solving skills, and creativity to real-world business scenarios, showcasing teamwork or individual innovation.
Themes
- Sustainable Business – Innovative approaches to integrating environmental stewardship and social responsibility into business practices.
- Entrepreneurship and Innovation – Creative strategies for startups, ventures, and transformative business models to address emerging needs.
- Finance and Investment – Crafting economic solutions that drive financial growth, ensure stability, and optimise resource allocation.
- Workforce Dynamics – Advancing labour relations, boosting workplace efficiency, and implementing adaptive human resource practices for evolving business landscapes.
- Technology Integration – Leveraging AI, blockchain, and emerging technologies to revolutionise industries and create competitive advantages.
Application Rules
Eligibility
- Submissions are open to individuals or groups of up to two participants.
- Submissions without solutions will not be accepted under any circumstances.
Business Plan
- Submit a business plan (maximum 5,000 words, excluding title and references pages).
- Format: Calibri or Arial font, size 11 or 12, with 1-inch (2.5 cm) margins.
- Must be written in English and saved as a PDF file (maximum size: 5 MB).
- File name: English characters only, less than 25 characters.
Video Presentation Submission
- A 5 to 10-minute video summarising the business problem, objectives, proposed solution, implementation strategy, and anticipated outcomes.
- Presented in English with clear audio and visuals.
- Submit in a standard format (e.g., MP4) via the submission portal.
Business Model Canvas
- Optional but recommended: A one-page Business Model Canvas (BMC) visually summarises the business plan.
- Submit as a PDF file (maximum size: 5 MB).
Judging Criteria
Strategic Thinking and Problem-Solving (30%)
- Problem Identification: Is the business challenge clearly defined and significant?
- Solution Design: How well does the proposed solution address the identified problem?
- Implementation Strategy: Is the plan practical, actionable, and detailed enough to ensure successful execution?
Innovation and Originality (25%)
- Creativity: Does the project showcase out-of-the-box thinking?
- Differentiation: How distinct is the solution compared to existing business models or approaches?
- Value Addition: Does the project offer clear benefits or improvements to the targeted audience or industry?
Market Feasibility and Impact (20%)
- Market Research: Is there a well-researched understanding of the target market and audience?
- Viability: How realistic and scalable is the solution in current or future markets?
- Impact: What are the anticipated outcomes in terms of economic, social, or environmental benefits?
Clarity and Communication (15%)
- Business Plan: Is the written plan concise, logical, and professionally structured?
- Video Presentation: Does the video clearly explain the business idea, problem, and solution with engaging visuals and sound?
- Business Model Canvas (BMC): Is the BMC clear, visually appealing, and reflective of the overall plan?
Adherence to the Theme (10%)
Submissions must align with one or more of the designated focus areas. Judges will assess:
- Theme Relevance: How well does the project connect to areas like sustainability, entrepreneurship, or technology integration?
- Focus Area Consistency: Is the theme consistently integrated across all aspects of the submission?
- Alignment: Does the project address a current or emerging challenge within the chosen theme?
Frequently Asked Questions (FAQs)
Can international participants join?
Yes, this competition is open to participants from all countries unless explicitly restricted by specific eligibility criteria.
Are team members required to be from the same school or organisation?
No, team members can be from different schools, organisations, or even different locations, as long as collaboration is feasible.
Can I submit a project I’ve already presented elsewhere?
Yes, but it must meet the research paper requirements and include a new angle or updated findings.
Can I submit in more than one category?
Yes, you can submit projects in multiple categories, but only one submission per category is allowed.
Sustainable Business
Exploring innovative business models that merge profitability with environmental stewardship and social responsibility, creating long-term value while addressing global sustainability challenges.
Entrepreneurship and Innovation
Fostering creative strategies to develop startups, ventures, and transformative business models, driving innovation and meeting emerging market needs with fresh, impactful solutions.
Finance and Investment
Designing economic strategies that promote financial growth, ensure resource efficiency, and address market dynamics to enhance stability and optimize investments for diverse stakeholders.
Workforce Dynamics
Advancing workplace efficiency, fostering positive labor relations, and implementing adaptive HR practices that respond to the evolving needs of modern business landscapes.
Technology Integration
Harnessing cutting-edge tools like AI, blockchain, and emerging technologies to revolutionize industries, enhance processes, and create lasting competitive advantages.
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