RESTON, Va. (July 8, 2019) – The Graduate Management Admission Council (GMAC), a global association of leading graduate business schools, today announced the first “Think Like an Entrepreneur” initiative winner. GMAC invited undergraduate students in the United States to solve a social issue while motivating others to join their effort. Candidates submitted entries through March 31, 2019, and today, Michael Lai, who discovered the GMAC-sponsored contest through his involvement with Hofstra’s Center for Entrepreneurship, a program within Hofstra’s Frank G. Zarb School of Business that connects students with the skills and training necessary to become accomplished entrepreneurs, was awarded the first prize of $10,000 for his work on Cress Health, an app that leverages mobile technology to help people fight addiction.
“Everyone deserves support as they work toward recovery, and technology provides us with unprecedented opportunity to galvanize around those in need,” said Michael Lai, an undergraduate student at Hofstra University pursuing a career in medicine as part of the school’s combined 4+4: BS/MD program. “The Cress Health mobile application provides a 24/7, virtual support group of like-minded individuals, improving upon current programs available to those in need. The app’s matching algorithm is incorporated into the chatting application to strategically group members into “peer-recovery communities.”
“We were very impressed with the innovative ideas submitted by the undergraduate community as part of this initiative, and Michael’s creation certainly represents what innovations can occur when an individual has a desire to help others,” said Sangeet Chowfla, President and CEO of GMAC. “At GMAC, we believe in the power of business as a force for good and are inspired by the motivation of people like Michael and his peers to create positive change in the world. They are using their talents to help make the world a better place.”
GMAC will run the “Think Like an Entrepreneur” campaign once a year, seeking ideas from the undergraduate community that utilize the spirit of entrepreneurship to create positive change and social impact around the world.
The Graduate Management Admission Council (GMAC) is an association of leading graduate business schools worldwide. Founded in 1953, we are committed to creating solutions for business schools and candidates to better discover, evaluate and connect with each other. We work on behalf of the schools and the graduate management education community, as well as guide candidates on their journey to higher education, to ensure that no talent goes undiscovered.
GMAC provides world-class research, professional development opportunities and assessments for the industry, designed to advance the art and science of admissions. Owned and administered by GMAC, the Graduate Management Admission Test™ (GMAT™) exam is the most widely used graduate business school assessment, recognized by more than 7,000 programs worldwide. Other GMAC assessments include the NMAT by GMAC™ (NMAT™) exam, for entrance into graduate management programs in India and 10 other countries, and the Executive Assessment (EA), specifically designed for executive programs around the world.
Our flagship portal for graduate management education resources and information, www.mba.com, receives 7 million visits a year and features the School Search matching tool and GMASS™ search service, matching candidates and business schools.
GMAC is a global organization with offices in Hong Kong, China; Gurugram, India; Singapore; London, United Kingdom; and the United States. To learn more about our work, please visit www.gmac.com.
Geoffrey Basye, Director of Media Relations, GMAC
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