The Australian eChallenge in Schools Overview
South Australian schools can enter teams of 2-6 students into the Australian eChallenge in Schools stream. They must develop a business plan for a new, previously unfunded business concept. To help them in this process, the Australian eChallenge offers competitors unprecedented access to top South Australian business acumen and expertise.
Teams work through a creative thinking process that leads them to a business concept. Each concept proposal is sent to 3 judges from the business community who provide feedback and ways to improve the concept. Teams are paired with experienced mentors from the business community. Their knowledge is invaluable in helping to construct a model that will prove to be a sustainable, growth oriented entrepreneurial business. Participants also have access to the Australian eChallenge online platform, containing course work, readings,video and PowerPoint presentations. There are nine modules covering all aspects of business planning.
A series of workshops, presented by specialists in their various fields, outline the steps to building a successful business: from developing and assessing their idea, through to marketing, finance, intellectual property, writing the plan and delivering a presentation. The business plans are submitted for assessment and feedback, after which teams prepare their presentation. The students have the opportunity to pitch their business concept to real business people and investors.
The judges, drawn from our sponsors, look for the overall commercial viability of the business based on the quality of the opportunity, the market, competitive advantage and the team strengths and weaknesses.
The Australian eChallenge in Schools winning team, parents and course advisor will attend the black tie Awards Dinner.
Benefits for Participants:
- Develop skills in establishing clear milestones for new venture opportunities
- An opportunity for secondary student’s to experience University life
- Introducing students to the local business community
- Provide the opportunity to form a strong mentoring relationship with the business community
- Realistic investment experiences
- Key learning and support resources available for flexible learning
- Launch pad for ventures both locally and internationally
- Students own their IP
- Develop the skills to network with the business community and tertiary students
- Fosters individual and small group inventiveness
- Develops the spirit of collaboration through all stages of the innovation and commercialisation process
The University of Adelaide, through the Entrepreneurship, Commercialisation and Innovation Centre (ECIC), has developed a considerable range of skills, procedures and competencies in successfully staging this event. Each year the Australian eChallenge captures the energy of young, bright entrepreneurial enthusiasm and channels it into investment-ready early stage companies.