On May 10th, students from all years and academic programs gathered together for the sixth annual Business Plan Challenge. As a part of the IEU Labs, professors selected eight teams to pitch their innovative business ideas to a jury of current business leaders.
The three jurists—Iván Bedia, Borja Galmés, and Isabel Sánchez—were given the difficult task of analyzing each presentation and deciding which team would take home the coveted cash prize.
An expert in startups, Iván Bedia is the founder and CEO of BusinessInFact, a startup accelerator and business angel in Madrid. Borja Galmés currently holds the position of Head of Mergers & Acquisitions at Cabify after spending time in London working at companies such as Peninsula Capital Advisor. IE University’s own Dr. Isabel Sánchez, professor of Microeconomics and Vice-Rector of IE Labs & Entrepreneurship, rounded out the jury for the Business Plan Challenge.
All eight teams were able to pitch their business plans with the hope of being chosen as the winning team. Each team came together to present eight unique and innovative pitches with Artenec, an art-buying application, taking home the cash prize, while Forkie and Car Crashing Technologies came in second and third place, respectively.
All eight teams brought exciting ideas to the competition. Read more and find out how these future game-changers plan on shaking up the business world:
Lucía Pastor and Pedro Bajk represented a team of seven students to pitch Forkie, a product designed to make life easier for those with food allergies. The company proposed creating a portable fork with sensors that detect certain food allergies through the use of green and red indicator lights. Other members of Forkie include Beatriz Sanmartín, Flavia Rodas, Pablo Cerdó Monjo, Paula García Rodríguez, and Hasnae Khiyar.
Over 250 million people around the world suffer from food allergies, and Forkie presents a useful tool that can be used to avoid allergic reactions and promote awareness about this very common health problem. With a planned 100,000 euros of investment, the pitch proposed a period of research and design before hitting the Spanish market.
BIOVEND: Green On-The-Go
In today’s fast-paced world, it is hard to find a quick snack that is healthy. Whether at work or at school, people tend to opt for the quicker option rather than choosing what is best for their bodies. Julie De Clerck and Zaina Morad, along with their team (Maile McFarland, Jordi Olmedo, and Gabriella Ichai) want to change that.
This team of students from Belgium, Spain, the United States, France, and Egypt proposed a business plan focusing on providing healthy options on the go. By recycling vending machines, they proposed bringing healthy snacks to universities, schools, and businesses. By using 100% biodegradable packaging and offering gluten-free, vegan, and vegetarian options, Biovend’s business plan promises to make a positive impact on the fast-food industry.
CCT: Car Crashing Technologies
Getting into a car crash is a stressful situation. Not only is your safety at risk, but you have to go through the daunting task of dealing with insurance forms. But what if the exchange of insurance information and the reporting of your accident could be simplified?
Giancarlo Gavotti and Alberto Lazarov represented CCT: Car Crashing Technologies and pitched their game-changing app: through the use of near-field technology, users can scan a sticker placed on the dashboard of their cars which then automatically sends a detailed accident report to insurance companies, such as Mapfre and Mutua Madrileña. Mario Arratibel, Mathieu Metral, Sofía Alvear, and Julio Castelo rounded out the CCT team.
Every university student knows that it takes a lot of work to make a dorm room feel like home. Traditionally, students collected posters and photographs to decorate their walls, but what if they could order personalized artwork via an easy-to-use app? This is where Artenec comes in.
Sarah Albers and Phillipp Kilngan, along with their team (Hala Qudah, Olivier Thiry, Miki Mallet, Vince Rivera, Daniela Beltrán, and Jacobo Alapont) proposed the creation of an app targeted toward university students and families looking to spice up their homes. By contracting student and local artists to create on-demand works of art, Artenec promises to benefit the local art community by offering fair commission rates and work opportunities.
A lot of university students struggle to find the time to cook a healthy meal. Whether they do not have time to go grocery shopping or they have very strict dietary restrictions, many students are looking for a solution to eat healthy while not sacrificing too much time out of their schedule. Unichef promises to be the solution to this problem.
The members of this women-led company—Cloe Attieh, Caitlin Rushton, Rosa Parra, and Inés Muñoz—proposed the creation of a company offering a healthy food delivery service. Catering to the needs of vegans, vegetarians, and celiacs, Unichef allows students to have easy-to-cook and healthy ingredients sent to their homes. At a price of 9 euros, each meal has an estimated prep time of 40 minutes, making it an easy option for busy students.
Student budgets can be tight, especially if you don’t have time to work a part-time job. What if you could find one-time jobs near you for some extra cash? Diego Prieto and John Huth, along with Estela Baldi Paz, Michelle Laham, and Marta Ribas, represented Curro Now, an app that offers contract-free jobs to students looking for spending money.
With the use of GPS tracking, users can consult available jobs in their area, such as helping someone move. Bringing job seekers and those looking for an extra hand together, Curro Now presents a simple solution for those students wanting to find work without fully committing to a part-time job.
Every student receives an added stress when looking for future roommates, especially if they are incoming students. Roomies, a roommate-finding application, hopes to rid students of this burden.
Adelaida Balthazar Correa, Hannah Hilde F. Demeyere, Santiago Erreguerena Vieyra, Amaya Hijazi Bravo, Anna Bundgaard Lassen, and Jemma Neave Scheijde proposed to create an app which uses personality tests and a drag-and-drop hierarchical list to find users 10 potential roommates, all for the price of 15 euros. Through collaborating with psychologists and lawyers, Roomies guarantees to match students with roommates who are the best fit for them.
Driven by a passion for assisting those with disabilities, the GPSoles team pitched a unique business plan to assist the blind community in Spain and around the globe. Kimberely Godfrey, Wesley Swan, Cristina Astrid Dinnbier Ribes, Mariana Leal Correia Chito Rodrigues, Ana Paula Moncayo Canelos, and Josefina Pérez Jiménez, shared their goals of creating a shoe insert which would have vibration sensors linked to Google Maps to assist visually impaired individuals navigate cities.
Not intended to replace canes or seeing-eye dogs, GPSoles would combine Google Maps and Bluetooth technology to help guide users to their final destinations. Available at a proposed price of 60 euros, the soles would revolutionize navigation among the blind community and would consist of a collaboration with ONCE (Organización Nacional de Ciegos Españoles), Spain’s leading foundation for the blind.
IEU Labs work to provide students with opportunities to make their dreams a reality. Through opportunities like the Business Plan Challenge, students are given the tools to conquer the business world during and after their time at IE University. Congratulations to all the teams for their brilliant and inspiring business pitches!