GMAC's Management Education for Tomorrow Fund is launching a competition open to indivduals worldwide to help generate ideas to improve graduate management education. The 2 part Management Education for Tomorrow ideas to Innovation Challenge will award $250,000 to the top ideas with $50,000 being the top prize.
In phase 2 of the competition the Met fund will post the top ideas on its website where schools and other not-for-profit organisations can submit proposals to turn any of the ideas in to reality.
For the competition GMAC defines innovation as the implementation of an idea that improves management education in a meaningful way for students, schools and societies.
Ideas submitted will be judged on:
- Concept originality/ Overview (30%) - the idea is innovative and inspired.
- Effect on management education (40%) - the idea has a large impact on students and has a strong potential for expansion and replication.
- Feasibility (30%) - the idea is realistic and is able to produce measurable results within a one to three year time scale.
All ideas must be submitted on one page and will be accepted online from the 21st July until the 8th October 2010. The winners will be announced on the 15th December. Phase 2 of the competition (where schools and non-profit entities will be invited to submit proposals to implement the ideas will be launched in 2011)
For more information and to register for the challenge please visit gmacmetfund.org.
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