The Graduate Management Admission Council (GMAC), the nonprofit association of business schools that owns the GMAT exam, announced an “Ideas to Innovation” (I2I) challenge today that aims to find ways to improve management education.
The execution is simple; the concept is not. Participants are invited to submit one idea in three paragraphs answering the question “What one idea would improve graduate management education?” For this contest, GMAC defines innovation as the implementation of an idea that improves management education in a meaningful way—for students, for schools, for societies.
$250,000 in prizes will be awarded to 15 people with the top ideas; the most promising proposal will take home $50,000. You can submit between 7/21 and 10/8, to www.gmacmetfund.org. Entries will be judged by a panel of educators and business leaders from around the world. Winners will be announced in mid-December, and in 2011, GMAC will post the winning ideas online, ask schools and other nonprofit organizations to develop ways to implement them, and then underwrite one or more of the best proposals.
For more information about the I2I challenge, please click on this link.