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The Spanish Royal Minting House yesterday hosted the final competition "IE University Business Plan Challenge 2013", in which the private university awarded the best business plans designed by their students. This competition was organized by the Entrepreneurs Club and the Bachelor of Business Administration (BBA) at IE University.

In the Junior category, the first prize went to the project "Dow Beer", worth 500 euros, whos authors are students Gabriel Salazar, Diego Eustasio, Alejandro Polanco and Juan Manuel Román Tomas Yanez. The business model of the company "Dow Beer" is based on an innovative way to offer people the experience of a bar specializing in the sale of beer. "We believe it is something different because our company merges the traditional bar concept with the environment of the major European stock exchanges, setting the price of our beers depending on the number of drinks of this type we have previously drunk", mention the students, adding that "this is the main competitive advantage of our company, as no other similar bar service is able to offer such an innovative proposition."

Meanwhile, the first prize in the Senior category went to the project "Lumi", whos author is a third year student of BBA, José de la Fuente Soriano. It is a company dedicated to the development of communities of artisans in Peru through fair trade and jewelry design, fusing the latest handicrafts trends and techniques in Peru. "What Lumi is looking for is to sell jewelry through fair trade, where the craftsman can grow and earn a margin to help you lead a life that is not pressed by poverty," said De la Fuente, who as the winner received a thousand euros prize.

We have to hightlight that in the junior category there were also projects which were awarded. The Student Place (an estate agency which aims to provide accommodation for students of IE University) and Sports Club Madrid (a bar specializing in sporting events). Among the academic authorities attended: Heritage Councillor, Claudia Santos, Director of Business Degree and Deputy Vice Chancellor, Isabel Sánchez, and Vice Chancellor of Students, Marco Trombetta.

The primary objectives of this competition have been to promote the exchange of knowledge among students, encourage innovation and promote entrepreneurship in the university.

IE - REINVENTING HIGHER EDUCATION