| INTERNATIONAL FOOD AND AGRIBUSINESS MANAGEMENT ASSOCIATION |
IFAMA 2024 Venture Building Challenge - Online IFAMA is pleased to announce a call for teams for the IFAMA 2024 Venture Building Challenge, an online competition, on 14–15 November, 2024. (Register by 15-October.) THEME: Empowering Innovation, Sustainability and Food Security through Smallholder Farming SPONSORED BY: Bayer Crop Science The Venture Building Challenge (VBC) is an excellent introduction to learning how case studies are routinely used as a problem-solving tool throughout industry and academia. Or, Managers and Executives leading teams of young talent are invited to register a team, providing both a unique professional development opportunity and a chance to represent your company on a global stage. GUIDELINES The 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. Teams will receive a research case, (approximately 10-pages) detailing an emerging science or technology innovation. Teams are tasked to create a 12-minute video presentation showcasing a pathway to market for their solution, accompanied by a one-page brief. Each team will also receive an entrepreneurship toolkit at the start of the competition, consisting of key frameworks to detail their strategy. The Venture Building Challenge is 100% online, giving teams from around the world an opportunity to showcase their talents on a global stage. There will only be one division for competing teams in the Venture Building Challenge, and teams are encouraged to embrace diversity of thought within their group composition. Teams should have 2–4 members, and may include undergraduate students, postgraduates, and/or early career professionals up to 35 years old. Universities or organizations may send multiple teams. Individual applications are also accepted. Teams can be formed combining students or young professionals representing different universities or organizations. (IFAMA will assist with the pairing process.) A current IFAMA membership is required for participation. COMPETITION STRUCTURE Each team must nominate a Team Captain. The Team Captain will become the key point of contact between IFAMA and the team prior to the competition. Teams can also have a senior advisor (such as a lecturer or manager). Advisors may play a major role in helping students or young professionals prepare for the competition. However, teams must work independently from their advisor during the competition. |
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2023 Winners: 
2023 2nd Place Team: Pre-Cycle (New Zealand)BRIEFING All teams have the opportunity to join a 1-hour briefing and Q&A session. This will occur twice to accommodate attendees in two time zones on 22-October 2024: CEST 08:00 and 20:00. The sessions will be recorded and can be watched later if the team is unable to attend either of the live briefings. *Note: The 8:00pm (20:00) CEST session is a repeat session containing the same information in the earlier session to accommodate attendees in different time zones. Teams who have registered for the VBC can also register for the briefings here: PRELIMINARY ROUND In the first round of the challenge, teams will have four hours to analyze the research case and submit their video and one-page brief. It is expected that all team members will have comparable speaking roles and significantly contribute to their team’s presentation. Each Time Zone heat will receive the same research case. Teams will be given a scoring rubric in advance that will be used by the judges. |
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All details regarding the video and document upload and submission will be provided in advance of the challenge start. The research case and an entrepreneurship toolkit will be emailed to Team Captains at the start time outlined below. Time Zone A teams: 08:00-12:00 CEST, 14-November 2024 A judging panel comprised of a research case representative, IFAMA Board members and an international expert judge will complete a scoring matrix for each competing team and announce the championship qualifiers at least six-hours prior to the start of the final round. CHAMPIONSHIP ROUND The championship round will only be held at the discretion of the judges. 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 answering extension questions from the original research case, in just 2 hours. Time Zone A teams: 08:00-10:00 CEST, 15-November 2024 PRIZE WINNINGS The grand champion team and runners-up will have their videos displayed to a global audience during the announcement. Both teams will be formally recognized during a live awards ceremony. 1st place: USD $2500 TEAM REGISTRATION & FEES 1. Download the application here:
2. Email the completed applications no later than 15-October to VBC: conference@ifama.org Students or Early Career Professionals who are not attached to a team but want to compete may apply to join a team by completing an individual application. Every effort will be made to accommodate all unaffiliated individuals, however, if more applications are received than can be accommodated, preference will be given to applications with the earliest submission dates. Each member of the team must be an active member of IFAMA in order to participate in the competition. You can easily join IFAMA by following this link: www.ifama.org/join-now ($25 USD membership fee).
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TIMELINE 15-Oct 2024 Deadline to submit early application confirming intent to compete in competition 22-Oct 2024 Online Team Check-in and Briefing 01-Nov 2024 Deadline to submit application and pay registration fee 14-Nov 2024 Preliminary Round 15-Nov 2024 Finals Round 16-Nov 2024 Awards Ceremony and winners announced 2024 VENTURE BUILDING CHALLENGE COMMITTEE Co-Chairs: Blanca Rosa Mrdeza Reyes, ELFIN / Bayer CropScience, and Jack Keeys, Chair IFAMA Young Board QUESTIONS? Please contact IFAMA Executive Director: Kathryn White: conference@ifama.org COMPETITION SPONSOR
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