R-Evolution’s solution for the 2018 Smart Cities Global Business Challenge (GBC) was a digital platform called ‘Living technology together (LTT)’. The platform would allow cities and communities to define smart city programs such as improving health, reducing waste or improving energy efficiency. Participants would be rewarded with digital tokens that they will then be able to exchange for services and social programs in the community.
- Describe your participation in the 2018 Global Business Challenge. What was the experience like for you and your team members?
The Global Business Challenge was one of the greatest experiences both personally and professionally. The whole competition was very stimulating and promoted the best out of each one of us. We really had to become aligned and remain calm through the ups and especially the downs of the whole journey. We are so grateful to have taken part in such a high-level competition and to have met all the amazing teams, judges and organizers. We have thoroughly enjoyed and loved every minute of the experience!
- What is the name of your company? How did the Global Business Challenge help you to build upon it?
While our team has not launched a commercial product on the market yet, our proposed name is R-Evolution. Winning the Global Business Challenge has offered us many opportunities from different investors and work is ongoing.
- How have you progressed since the GBC? Have you raised any capital, started selling?
Since all of the team members were in the middle of their MBAs and/or had full-time jobs that they had to continue to date, our efforts have not been concentrated on raising any capital. Instead, we have educated multiple municipalities about our solution and we are slowly trying to regroup as a team and make some significant progress by the end of this year.
- What are your plans for the future?
All team members are very much looking forward to developing our entrepreneurship skills and advance our proposed solution. Throughout the competition, we developed significant skills that have served us well in our current employment opportunities and will give us an advantage in future endeavors as well. We would love to jumpstart our platform and start a first pilot in Montreal within the next 2-3 years.
- Are there any tips that you would like to give future contestants?
First and foremost, HAVE FUN! This is a once in a lifetime experience and if you are lucky enough to make it to the finals, don’t forget to enjoy every minute of it. Work hard, but don’t hesitate to make friends with the other competitors and everyone involved in the event. The process is grilling but coming in as a strong team that relies upon and trusts one another is crucial.
About the Global Business Challenge
The Global Business Challenge (GBC) is the first global graduate business case competition aimed at developing solutions to global problems and is conducted as a partnership between QUT, The University of Queensland (UQ) and Griffith University and with the support of government and industry.
For details about the competition, go to http://globalbusinesschallenge.org/