The finals of the NIBS Worldwide Business Plan Competition were held this afternoon, as part of the NIBS Annual Conference. Attendees were treated to a spirited contest between teams from Lahti University of Applied Sciences (Finland), Dublin Institute of Technology (Ireland), and Washburn University (USA).
In a tight finish, the Washburn team took home the trophy and the €1,250 cash prize, thanks to an innovative business proposal to help businesses recover tax savings from utility expenses. The winning team consisted of Kennedy White, Connor England and Mark Feuerborn, along with coach Prof. Dmitri Nizovtsev. DIT finished in second place.
This year’s competition attracted 16 entries from 10 different countries—the largest and most diverse in the history of the event. Submissions were evaluated and scored by an expert panel of judges from various NIBS member institutions, during a preliminary round held in the fall. The top three finishers were then invited to participate in this week’s Grand Final; the winner is determined by a combination of the preliminary round score and on-site assessment by both the judging panel and the audience members in attendance.
The team from Lahti led things off with a presentation of FoodCroc, an innovative social platform for discovering, searching, sharing and reviewing food. This was followed by DIT’s FeatherGrip, a specialized grip mechanism for smart devices designed for consumers with medical conditions. Washburn was the last team to present. Videos from all three finalists can be viewed here.
The Worldwide Business Plan Competition accepts submissions each winter, and is open to all NIBS member schools. The deadline to register a team for next year’s competition is December 1. For more information about submission guidelines and assessment criteria, please visit the competition page.