KEC GENERAL INFORMATION

Global Enterprise Challenge (GEC)


The Korea Enterprise Challenge (KEC) started in 2009 as a national preliminary competition for the Global Enterprise Challenge (GEC). The GEC is a 24 hour enterprise challenge for young people aged 16-19. It gives young people the opportunity to develop their knowledge and experience of enterprise, by providing an environment where they can apply skills and develop their understanding in practical ways. Gordon McVie, formerly of Careers Scotland, developed the GEC in 2001. Since its inception the GEC has gone from strength to strength and in 2010 involved 15 countries with some 2000 students taking part from up to 140 schools and colleges worldwide.





The GEC is a Two Stage event:

Stage 1

A National event where teams compete for the right to represent their country in the International event. At the beginning of the 24 hours, teams vying for the honour of representing their country are given a Challenge. In 2011 the Challenge read:


"On April 12th 1961, Yuri Gagarin became the first human in space. To commemorate this momentous event in human history, the international space community has launched an international competition for schools. Your challenge today is to conceptualise and design an interactive exhibit for display in science museums around the world, celebrating 50 years of human spaceflight, and looking ahead to the next 50. Estimate what it will cost to develop your exhibit, and produce a business plan to recover the cost of creating and maintaining the exhibit."


Teams must then work together to create an idea, a prototype, a business plan and a presentation. Stage one concludes with the judging of the National competition and selection of the team to represent their country in the International event.

Stage 2

An International event where the work of each country's National winning team is submitted via the web to an international judging panel. This judging panel look for the winning combination of teamwork skills, an innovative approach and an outstanding standard of product, prototype, plan and presentation.




Teams

KEC follows the guideline provided by GEC.
*Ten participants(at most) constitute a team.
*Participants should be aged 16-19 years (international age).
*Participants must hold Korean citizenship.
*Ideally the team should possess a broad range of complementary skills and knowledge (science, technology, business, marketing, and communication).

General Rules

*Any evidence of plagiarism, cheating, or help from outside the team will result in disqualification of the team.
*Late submissions will be not accepted and will result in disqualification.
*Students are allowed to utilize the Internet and other media sources.
*The use of PowerPoint (4 pages maximum) or presentation boards are strongly encouraged. PowerPoint slides MAY be used in the presentation but NOT in the business plan.
*Business attire is required.
*Other specific rules will be announced on the day of the competition.

What is being judged?

*A 3-minute presentation (Korean)
*A 2-page written business plan (English, A4 size with minimum font size of 10-pt) and its translation (Korean, no rules regarding the font size)

Judging

The factors being judged are:
*Creativity - assessing the level of unique and inventive content and the degree of fit to purpose and friendliness to the environment (10 points).
*Finance and Production - assessing the degree of feasibility and comprehensive coverage of all the issues relating to funding, manufacturing, and making a sustainable solution (10 points).
*Marketing - assessing the plans for market research and marketing to determine if the proposed solution has a market and can be moved to its market through promotion and direct selling or other appropriate method (10 points).
*Communication - assessing how well the team conveyed its message within the allowable constraints and through the media employed (10 points).
*Social Responsibility - assessing how much the proposed venture contributes to the overall wellbeing of the society including social welfare and the environment (10 points).
*Globalization - assessing how well the proposed venture is adaptable in the global market and feasible not only in a local context but also in other numerous countries (10 points).