GUIDELINES

IFAMA Venture Building Challenge collides the worlds of research and entrepreneurship for a unique and dynamic challenge that will test teams’ creativity, problem-solving abilities, and understanding of practical implementation to tackle a global challenge: Commercialization. 

All teams will have the opportunity to attend a 1- hour orientation and Q&A session prior to the start of the competition on 9-June. The session be recorded and accessible online if competitors are unable to attend.

TEAM STRUCTURE

Teams are composed of 3–5 members and may include any mix of undergraduate students, postgraduate students and/or early career professionals up to the age of 35.

Universities or organizations may register multiple teams. Individual applications are also accepted, and teams can be formed that include students or young professionals from different universities or organizations. IFAMA will assist with the pairing process.

COMPETITION STRUCTURE

Each team must nominate a Team Captain who will be the primary point of contact between IFAMA and the team prior to the competition. Teams may also have a senior advisor (such as a lecturer or manager).

*Although advisors may play a major role in helping the team prepare for the competition, competitors must work independently from their advisor during the competition. Teams will be given the scoring rubric in advance that will be used by the judges.

PRELIMINARY ROUND

At the designated start time on Day 1 of the competition, the Team Captiain will be emailed a 10-page research case, detailing an emerging science or technology innovation and an entrepreneurship toolkit, containing key frameworks to guide the teams' thinking and strategy.

The teams will have 4 hours to analyze the research case, produce a 12-minute video and submit the video with a one-page brief. It is expected that all team members will have comparable speaking roles on the video and make equal contributions to their team’s presentation.

For the preliminary round, the teams in Time Zone A & B will receive a different research case.

Time Zone A teams, NZST 7:00am-11:00am, Saturday, June 17

Time Zone B teams, NZST 7:00pm-11:00pm, Saturday, June 17

A panel of judges comprised of a research case representative, an IFAMA Board member and an international expert will complete a scoring matrix for each competing team. The teams advancing to the Championship Round will be announced at least 6-hours prior to their start time on Day 2. The top two teams selected from each time zone will  advance to the Championship Round on Sunday June 18. The qualifying teams will be announced at least six hours prior to the start of the Championship Round.

CHAMPIONSHIP ROUND

The winner and runner-up from each time-zone heat will qualify for the championship round, where each team will compete in the same Time Zone period as the previous day. For the championship round, all teams will be using the same research case (a third and final case).

Time Zone A teams, NZST 7:00am-11:00am, Sunday, June 18.

Time Zone B teams, NZST 7:00pm-11:00pm, Sunday, June 18.

The Grand Champions and Runner-up teams will have their videos displayed during the E Tipu IFAMA 2023 World Forum and on the conference App. The 2023 Champions teams will be formally recognized during the IFAMA Presidential Banquet and awards ceremony. Take the Challenge, and split the winnings of $3000 USD in cash prizes ($2000 USD to the Champion team, and $1000 to the runner-up).

TEAM REGISTRATION

Each member of the team must be an active member of IFAMA to participate in the Venture Building Challenge.

If you are not currently a member of IFAMA, you may easily join IFAMA by following this link: www.ifama.org/join-now  ($25 USD membership fee).

All teams must complete the following application form and email it to: Venture Challenge: conference@ifama.org (Only one application per team).

Download the application here: TEAM APPLICATION | INDIVIDUAL APPLICATION

TIME LINE AND REGISTRATION FEES

Team Registration, May 17- June 15

  9 June Orientation & Q&A session

17 June Preliminary round

18 June Championship round

20 June Awards ceremony