On Friday, March 26th four of our IMBA students will be traveling to Singapore to represent IE as Team DiversitIE in the 2010 National University of Singapore business plan competition. The students, Mark Peinhopf, Matteo Perondi, Joseph Berlino, and Mario Del Duca have been working diligently on the various phases of their business plan to bring Vestas into the small-scale wind turbine market since early December.
The NUS competition is one of the largest master level business plan competitions in the world, and has attracted nearly 500 teams to this year’s event. The round progression started with a brief executive summary discussing their plans for Vestas, in which the team devised a creative approach of utilizing both NGO and non-market strategies to enter into the German market – clearly reflecting IE’s emphasis on all aspects of doing business.
As the rounds progressed, the business plans increased in completeness, and the majority of the competitors were eliminated: including the teams from MIT, NYU, LBS and the Gopher’s from Minnesota. Our Team DiversitIE remained one of the 6 teams that were selected to fly to Singapore for an all expenses paid trip and to present their ideas to a panel of 10 judges selected from leading Singaporean institutions. Please join us in showing our support for these students.