IDEAcorps MBA Consulting Challenge

The IDEAcorps MBA Consulting Challenge is an immersive event created by the Idea Village and presented by Loyola University New Orleans that gives MBA students the opportunity to apply their knowledge and skills helping small and/or early-stage New Orleans businesses with a minimum of $250,000 in revenue and a desire to develop a robust "scale-up" strategy. Ten teams from across the country will be paired with companies representing a diverse population of founders working in industries ranging from tech to retail.

Working remotely November-December, you will meet with your company to understand their current business, explore ways to scale it, and create a unique scale-up plan. During this time, you will be given asynchronous instruction in best-in-class consulting techniques, understanding minority business challenges, and scaling best-practices. In January 2023, you will travel to New Orleans to enjoy a tour of some of the city's innovation centers (including NASA and the Port of New Orleans), engage in a networking event with 100+ leading employers, and culminate in a pitch competition to present your scale-up strategy.

Teams: 

CLICK HERE to visit the team info page for information about asynchronous consulting instruction, links, and more.

Program Dates:

• October 28, 2022: Application Deadline
• November 12 - December 16, 2022: Remote Consulting
• January 9-12, 2023: New Orleans Fun + Pitch Competition

Teams:

• Total number of teams: 10
• Team composition: No more than 5, no less than 4 members per team
• Fee per team: $2,000
• Hotel room block available HERE @ The Hilton - St. Charles

Why IDEAcorps?

• Work with a real company, not a hypothetical one
• Fully engage in an immersive experiential learning opportunity
• Learn consulting skills that can be used in scale-up development, corporate innovation initiatives, and consulting projects
• Tour New Orlelans' Innovation Centers
• Meet with 100+ employers
• Connect with the New Orleans entrepreneurial ecosystem
• Enjoy New Orleans' music, food, and weather over winter break!

 

TEAM LEADERS - CLICK HERE TO APPLY NOW!

APPLY BY OCTOBER 28, 2022. IDEAcorps team leaders are responsible for recruiting their IDEAcorps team (up to 5 members). The ideal team draws together members from diverse backgrounds and skill sets for the greatest competitive advantage. A faculty advisor is recommended for each team. Teams will be asked to provide a consulting profille with a general description of their ideal type of founding entrepreneur and/or company with which they would prefer to work.

IDEAcorps teams get a special discount at the Hilton on St. Charles Avenue. Book your room by December 9th to receive the special rate!

FOR MORE INFORMATION:
Bara Watts, bawatts@loyno.edu
Executive Director
Center for Entrepreneurship and Community Development

Sam McCabe, gsmccabe@loyno.edu
Assistant Director
Center for Entrepreneurship and Community Development

Program Breakdown:

Saturday, November 12: Kickoff + Introductions

• 10:00 AM CST - Virtual meet 'n' greet with MBA teams and company partners
• Expectations and program breakdown

Monday, November 14 - Friday, December 16, 2022: Remote Consulting

• Virtual real-world consulting with New Orleans companies to develop a scale-up strategy
• Asynchronous instruction on best-in-class consulting, minority business development, and scale-up strategies

Monday, January 9, 2023

• 9:00 AM - 2:00 PM: Arrival / Check-in
• 2:00 PM - 5:30 PM: Team + company meet
• 5:30 PM - 6:00: Travel to Dinner
• 6:00 PM - 'til: Dinner + Keynote

 

Tuesday, January 10, 2023

• 7:30 AM - 8:30 AM: Hotel Buffet
• 9:00 AM - 11:00 AM: New Orleans BioInnovation Center - BioTech Startups
• 11:30 AM - 1:30 PM: Lunch @ The Shop @ The Idea Village 
• 2:00 PM - 4:30 PM: Port of New Orleans + Riverboat Tour
• 5:00 PM - 'til: Open time for team + company meetings + exploring New Orleans

Wednesday, January 11, 2023

• 7:30 AM - 8:30 AM: Hotel Buffet
• 9:00 AM - 1:00 PM: NASA Assembly Facility @ Michoud
• 2:00 PM - 4:30 PM: Pitch practice and final revisions
• 4:30 PM - 6:00 PM: Cocktail + Networking Party with Business Executives
• 6:30 PM - 9:30 PM: Pitch Competition @ Loyola University New Orleans

Thursday, January 12, 2023

• 7:30 AM - 9:00 AM: Goodbye Breakfast

FOUNDER QUALIFICATIONS:

• Full-time Founder
• Minimum $250,000 gross annual revenue or equivalent. "Equivalent" can include "a growing freemium or traction customer base" with potential for conversion to a minimum of $250,000 gross annual revenue or capital raised.
• Desire to scale to, at minimum, 50% of current gross annual revenue or equivalent within an 18-month period starting January 2023.

FOUNDER COMMITMENT:

• Approximately 1 hour per week from November 14 - December 16 (5 hours)
• Share your current business details, explore ways to scale your business, and create a unique scale-up plan.
• Commit to attend and participate in the Final Pitch Competition on Wednesday, January 11 @ Loyola University.