Two teams from the Lagos Business School MBA programme have emerged winners at the Global Business School Network (GBSN) Africa Business Concept Challenge. The LBS teams: Aquatrac and ThinkShift won the first and second positions, respectively.
The Challenge featured 245 students in 56 teams from 15 countries, with the leading teams emerging from Nigeria, Ghana, Botswana, and Namibia.
The Global Business School Network, founded in 2003 as a program of the International Finance Corporation tackles wastage of funds, resources, and human potentials as a result of poor management.
Supported by Stanford Seed and AACSB International, the GBSN Africa Business Challenge aims at assisting young Africans who possess an entrepreneurial orientation, as well as a deep passion to serve their communities. It also focuses on responsible capitalism and identifies potential business leaders for mentorship and investment opportunities.
Summing up the factors that led to their success, the winners underscored LBS’s impact, among others. “One of the main factors that helped us was our early preparation; one of our team members had some experience in insect feed production, which enabled us to start quickly” the Aquatrac Team said.
The team identified the problem of the rising cost of fish feed, which has impacted the cost of fish. The team’s solution thereby helps farmers to slash their production cost by 48% while increasing their productivity and profit at the same time.
As for the Thinkshift Team, the project presented anchored on The Modular Housing Concept (Container Housing). Presently, a member of the team is building a home out of a shipping container. Thus, the team would be harnessing this concept beyond the competition.
“The Faculty at Lagos Business School prepared us extensively for the competition. From assisting us with mentors that are in the specific industry we are playing in, to staying up late a few times to clean up our presentation, they assisted us significantly” the Aquatrac Team, comprising Peter Igberaese, Temitope Osunrinde, Olalekan Oladimeji; and Faculty Mentor, Owuno Ogbeh, remarked.
The Thinkshift Team also reckoned that the LBS programme provided them relevant knowledge-to-business solution concept and analysis of business opportunities.
LBS’s continuous triumph at global competitions, amidst top business schools, gives credence to its capacity as a foremost business school, nurturing future entrepreneurs and African Leaders. Rated Africa’s leading Full-time MBA and ranked Top 100 Globally, LBS deploys leading and highly supportive faculty as it welcomes students from different parts of the globe.
The Aquatrac team received the first prize of $5,000, plus a one-on-one mentoring session with a notable industry leader, while the ThinkShift team will get a one-hour specialized mentoring session with professional African Innovation Hub Leaders by AfriLabs.
Team Name: Aquatrac
Project: Aquatrac- Affordable sustainable fish feed production
Peter Igbaraese – EMBA 26 – Team Lead
Lateef Oseni – EMBA 25
Olalekan Oginni – EMBA 25
Temitope Osunrinde – EMBA 26
Mentor: Owuno Ogbeh (LBS alumnus/Founder/CEO, Farmore)
Team Name: The Thinkshift
Project Name: The modular affordable housing concept (container housing)
Ayotunde Alimi – MMBA 2 – Team Lead
Elizabeth Ayo-Vaughan – MMBA 1
Abel Adejoh – MMBA 2
Abiola Akinwole – MMBA 1
Mentor: Mr Hakeem Ogunniran (Founder/CEO, Eximia Realty Company Ltd)