Saturday, March 13, 2010

Entrepreneurs International Challenge: Our London Adventure


February 19th, we landed at London-Heathrow. This, in fact, was my first trip to Europe, and I was lucky enough to be going with three great friends from the University of Chicago: Pedro Sanchez de Lozada, Guimar Vaca Sittic and Rodrigo Blandon.

This trip, unlike others I plan to take some day, wasn't solely for the touristic purpose; we were taking ten days off from school to compete in the final round of the Entrepreneurs International Challenge at the London School of Economics.
Guimar, David, Rodrigo, Pedro

The final round of EPIC, www.lse-epic.com, consisted of 9 teams from Malaysia, India, UK, Netherlands, Canada, Argentina and USA. We were the American team: four Latinos from Venezuela, Chile, Argentina and El Salvador, respectively.

In any case, we landed on a Friday, and the competition wasn't until the following Monday. The excitement took us around, made of us better friends, had us experience new routes, meet new people, see new things, taste new flavors, and cheer louder and stronger than we ever had before. To us, the fact that we were already in London, funded by the Dean of Students, meant we were already winners.

We saw the Big Ben, rode the London Eye, admired the view from the London Bridge, had Beer at the pubs, called out for the Queen from right outside the Buckingham Palace, stayed at cozy hostels, and I even experienced a beautiful Shabbat (different from what I had ever been to) in the heart of London.
Martin Kelly, IBM and David Akinin

London Eye and Big Ben, from London Bridge

The competition started on Monday. We were intimidated by some teams, but there was something inside of us, perhaps a strong bond we built over the weekend like we couldn't have at the University in two years, that reassured us, inspired us and made us feel like brothers.

It was very similar to the Apprentice, had four parts: a Sales Challenge, a Strategy Challenge, a Marketing Challenge and finally, the Social Enterprise Challenge.

Day 1, Sales Challenge we sold Mother's Day cards in the streets. Our strategy: focus on the London School of Economics strip. We sold to students, professors, staff. We didn't take no for an answer. We'd walk blocks with people until we made a sale. Persistence proved to champion: 168 Sterling Pounds.

Day 2, Strategy Challenge we presented a business venture based in El Salvador called Somos Soya (See blogpost about Entrepreneur Idol 2009). A soymilk production plant that would establish a breakfast supplement program for kids in public schools. We got full funding: 284,000 Sterling Pounds.

Day 3, Marketing Challenge 7digital.com came looking for ideas and we were eager to give them. They're in the process of launching a new and exciting product: "Locker Plus" and wanted marketing insight. We made a powerful presentation on Prezi.com, renamed the product, created a new image, gave Search Engine Optimization advice and pay-per-click marketing suggestions, and dressed up Guimar as a Cloud (see: cloud computing) and had him talk to London about getting on the Cloud... the judges voted for our proposal!

Day 4, Social Enterprise Challenge seeducation.com sponsored this event. We used Somos Soya, and added to it an additional Social Component- The Chutney Cooperative. As usual, we gave out soymilk samples, gave an in-depth, passionate presentation, supplemental materials and a business plan. But that wasn't it; we had to collect signatures in the streets (over 130), funding from random people who supported our project and win the vote of other competing teams ranking presentations.


Rodrigo, Pedro, Guimar, David

We won! We placed first in every challenge, accumulating a total of 40 out of 40 possible points-the first time a team got perfect scoring in the international challenge.

The team and Richard Farleigh

It was an "EPIC" experience for us all! We made friends around the world, celebrated at the Penthouse in London, made our country and university proud, but most importantly took home with us an experience that will mark our lives forever.

Cheers!