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IGU Shark Tank
Competition

Are you up to the challenge.

What Is the IGU Shark Tank Competition?

• An entrepreneurial competition open to ALL IGU students and alumni
• A way to showcase our student’s innovative and critical thinking in the areas of Business and IT
• A competition where cash prizes will be awarded

How Do I Compete In The Shark Tank Competition?

  • Choose any start up or entrepreneurial company which competes in a particular industry, such as IT / Cybersecurity or Business

  • You have the option of choosing a company you may want to start 

  • Do NOT choose a Fortune 500 company like Walmart, Apple, Google, etc.

  • Conduct some internet research on the company and the industry it operates in

  • Use Jack Welch’s 5-slide template discussed in this deck to plan your ‘Winning Move'

    • A Winning Move is an action that a company takes to create more profits than its competitors​

    • A Winning Move can consist of: 1. Creating an idea for a new product or service that outsells the competition; 2. Disrupting the No. 1 company in a particular industry; 3. Acquiring a top sales executive from a competing firm; 4. Unveiling a new piece of technology (hardware or software); 5. Creating a new marketing campaign that creates huge demand in the marketplace

How Does the Shark Tank Competition Work?

  1. Submit your proposed idea to IGU’s Shark Tank Competition website link: https://igu.forms-db.com/view.php?id=201133

  2. Your proposed idea will be reviewed by one of the assigned judges and rated

  3. If your proposal is judged to be ‘acceptable’ (critical and innovative thinking was demonstrated) you will then create your 5 slides using the PowerPoint template (see slides 8-12)

  4. You will then be assigned a coach to help you with your in person live presentation which will last between 4-6 minutes; your live presentation will be recorded​

  5. Your presentation will then be considered ‘final’ and will be entered into the final review for cash prizes

  6. The 1st place, 2nd and 3rd place winners will be announced after the judges have made their decision

Timeline for the Shark Tank Competition

Project Timeline

  • January - April 2022

January 3, 2022

 

February - March 2022

April 30, 2022

  • Competition announced via social media, website

  • Approved draft projects received

  • Coaches work with students alumni to perfect their pitch to the Sharks

  • Presentations

  • 1st , 2nd , 3rd place winners announced and cash prize awarded

Who Was Jack Welch?

A 40-year employee of General Electric (GE)

  • Spent 40 years rising through the ranks at GE

  • Last 20 years at GE spent as CEO

  • Had grown GE to US$450 billion in market capitalization by 2000

  • Fortune magazine named him as The CEO of the Century in 1999

  • A mentor to others who themselves became CEOs at Boeing Co., Home Depot Inc., Chrysler

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Jack Welch’s

5-Slide Framework

On Strategy

  1. What Does the Playing Field Look Like Now

  2. What Has the Competition Been Up To

  3. What Your Company Has Been Up To

  4. What’s Coming Around the Corner

  5. What’s Your Winning Move

1. What Does the Playing Field Look Like Now

Conduct some internet research to answer this question…
 

Who are the Top 5 competitors in this business industry, and are they large or small, new or old?

2. What Has the Competition Been Doing Lately?

Conduct some internet research to answer this question…
 

What has one competitor done in the past 12-18 months to change the playing field?
 

Examples

  • Have they purchased another company? If yes, which one?

  • Have they hired a new executive? If yes, who?

  • Have they released a new software product? If yes, what is the name of the product?

3. What Has Our Company Been Doing Lately?

Conduct some internet research to answer this question…
 

What has my chosen company done in the last 12-18 months to change the competitive playing field?

4. What’s Coming Around the Corner?                       

Conduct some internet research to answer this question…
 

What 1 or 2 things could a competitor do to steal market share from my chosen company or to outperform us in the marketplace?

5. What’s Our Company’s Winning Move?

Conduct some internet research to answer this question…


What can my chosen company do to change the playing field - is it an acquisition, a new product or service, or expanding to a new market domestically or internationally?