Gauntlet’s (now LISC) solution for the 2018 Smart Cities GBC was to handle evacuation problems in emergency situations in event venues such as stadiums. The solution was to provide instant and accurate guidance that reduces the human uncertainty, by eliminating possible delays in the communication process to the stadium crowd. This is done through a wristband enhanced with a real-time tracking system that crosses each individual’s location with gates availability, communicating instantly and better distributing the crowd to the evacuation routes.
- Describe your participation in the 2018 Global Business Challenge. What was the experience like for you and your team members?
It was very rewarding. We took time outside of schedules from our full-time MBA program, oftentimes weekends and late evenings trying tirelessly to make our business plan perfect. The tense and pressure at the final competition, though stressful, were also another great experience for us.
- What is the name of your company? How did the Global Business Challenge help you to build upon it?
We renamed the company to be LISC, which stands for light, intuition, safety, and color, which are the four essence of our solution. We used the award that we have won from the Global Business Challenge as seed money to build MVP in order to attract investment in future stages.
- How have you progressed since the GBC? Have you raised any capital, started selling?
We have discussed within our team and sadly only half of the team decided to proceed. Nevertheless, the remaining team has successfully received Berliner Startup Stipendium, which is a scholarship funded German government and supported by Humboldt University. We are in the process of building our first version prototype and seeking future investment and partnerships.
- What are your plans for the future?
Our plans are to start business development now since our prototype is about to complete. We aim to start from the European market and make our way to America and Asia.
- Are there any tips that you would like to give future contestants?
Talk to people. During the preparation of our business models, we changed several times because each time we talk to a potential partner we have gotten new ideas and valuable feedback that drove us either to pivot our business model or believe more of our idea.
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