Kiwi Undergraduates Welcomed To Compete In International Business Competition – The 3M Inspire Challenge 2022

For more than a century, global science company 3M has innovated a wide range of products for businesses and consumers including the iconic Post-it Notes and Scotch tape. The company has today launched the second edition of its competition the 3M Inspire Challenge, which is now open to New Zealand undergraduates for the first time.

The challenge is a case competition, which is where undergraduate tertiary students tackle a real-life business problem in teams, encouraging innovative thinking, competitive nous, and providing an opportunity to form friendships and develop business networks.

This year’s competition asks students to improve lives across three themes:

1. Sustainable Materials,
2. The New Paradigm (A Pandemic Aware World), and
3. Equity (Through Science and Technology).

Eleni Sideridis, Managing Director and General Counsel for 3M Australia and New Zealand, says 3M is thrilled to bring this exciting competition to New Zealand for the first time.

“Kiwis are well-known for their innovation and entrepreneurship, and we can’t wait to see what ideas they bring to the 3M Inspire Challenge,” she says.

This year the competition will take place over two rounds. In the first round, teams across Australia and New Zealand will submit their business solutions with the top three teams competing for the title of “Australia & New Zealand Country Champion” along with the prize of local internship opportunities and USD$2,000 (approx. NZD$3,200).

From there, the winning Australia/New Zealand team will compete against the Country Champions from India, Korea, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam in November. There, the ultimate winning team will be crowned the Asia-Pacific “Regional Champions” and receive a USD$5,000 (approx. NZD$8,000) cash prize.

Jim Falteisek, Senior Vice President, 3M Asia Corporate Affairs and Managing Director, 3M Korea, says: “We are passionate about unlocking the power of people, ideas, and science”.

“Through the 3M Inspire Challenge 2022, we want to uncover solutions to create a more positive world for the future, while tapping in our expertise to cultivate the next generation of diverse leaders, thinkers, and creators.”

Last year the top business ideas across the Southeast Asian region, where 122 teams competed, included smart bandages that can monitor different stages of the wound healing process, a 3M 360° virtual store, and sustainable bioplastic surgical masks.

Encouraging diverse participation in STEM

This year, the 3M Inspire Challenge has an emphasis on innovation through diversity and inclusion and it is mandatory for each team of two to four students to be gender diverse.

Jim Falteisek says 3M wants to ensure women have an equal opportunity to hone their innovation acumen and gain exposure in science, technology, engineering, and mathematics (STEM), ultimately paving the way for more creative and innovative ideas.

“This challenge is an example of how 3M is dedicated to cultivating a truly diverse talent pipeline in STEM.”

The 3M Inspire Challenge builds on 3M’s diverse community engagements aligned to this commitment. These include partnerships with local education initiatives including Innovative Young Minds, a New Zealand programme designed to encourage young women to explore science, technology, engineering, mathematics, and high-tech manufacturing.

Registrations are now open

Registrations and submissions are open for the 3M Inspire Challenge from July 15 until August 26. Shortlisted teams will be notified by September 23.

For further information and to register, visit the 3M Inspire Challenge website.

About 3M

3M believes science helps create a brighter world for everyone. By unlocking the power of people, ideas and science to reimagine what’s possible, our global team uniquely addresses the opportunities and challenges of our customers, communities, and planet. Learn how we’re working to improve lives and make what’s next at 3M.com/news or on Twitter at @3M or @3MNews.

© Scoop Media