December 1st 2011 marked the annual VC Trade Show for MBS students at WIT School of Business.
These students competed for investment funds from a panel of industry and academic experts of between $3.5 and $4 million. Each team ‘pitched’ for these funds at their docking station as competitors looked on, and success was based on their Business Growth Strategy and supporting tactical plan in each case. These students have been working in competitive teams since October 2011, during which time they created their own microcomputer company within a computer-simulated market; each with a unique product offering, marketing mix and internal function integration. Business success is based on a ‘balanced scorecard’ testing competitors on financial security, market performance and effectiveness, HR and Production Optimisation and Investment in the future.
Competition was intense at the Trade Show, as teams offered the VCs a variety of incentives including favourable return on investment and a percentage ownership of their company in a bid to attract much needed capital to expand into the global market in the forthcoming ‘year’, a trajectory which is followed through in a complementary module in Semester 2 of the MBS programme.
Check out more on this event and other activities in our latest ezine.