Each year, the Ivy MBA Mind-to-Market Case Challenge brings together science and technology-related organizations and entrepreneurial-minded MBA students for an intense, two-day innovation challenge. This year, four DePaul MBA students rose up to the challenge.
Left to right: Michael Pecak, Erin Dolan, Alessia Serafino & Amar Singh
The team was introduced to Haber Technologies, an agricultural technology startup created by an Iowa State University graduate. They were told to assume the role of consultants and were tasked with identifying ways to improve their go-to-market strategy, scale their business, address their manufacturing, assembly, and supply chain processes, manage the seasonal nature of their business, and create sustainable demand for their products. It was a tall order!
Undeterred, the team tackled the challenge by first closely examining Haber Technologies’ mission statement to determine its alignment with their primary and secondary products. After assessing this alignment, they dove into every educational effort necessary to boost demand for Haber’s offerings across the industry. Once they felt good about the content, they organized their ideas into a structured system which also served as a timeline for Haber to implement by customer type.
By recognizing each other’s strengths, the team was able to delegate tasks effectively and leverage diverse skills. Utilizing tools like whiteboards and online resources became essential for brainstorming and research, while meticulous attention to details ensured the quality of the work.
When the time for presentation arrived, the team observed three factors that were critical in
delivering a persuasive business plan to the judges during the competition. Firstly, it was crucial to identify the judges and understand their backgrounds to tailor their presentation effectively. Second, recognizing that the judges were not directly associated with the company would allow the team to provide comprehensive explanations of certain concepts and terminology. Lastly, honesty was paramount; avoiding unnecessary embellishments and being straightforward in their approach would earn the judges’ trust.
Participating in this competition provided the team with invaluable lessons on flexibility and adaptation in business. They quickly realized that uncertainty was a constant companion, urging the team to navigate through the unknown with confidence rather than fear. Venturing into a new industry demanded openness and a willingness to learn, prompting the team to maintain open lines of communication and using constructive criticism to help them refine their strategies and approaches. Ultimately, these experiences not only solidified the team’s resolve but also equipped them with the skills and mindset necessary to thrive in the ever-evolving landscape of entrepreneurship.
