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Management Education Ripe for High-Tech Innovation

Technology─such as virtual hubs connecting students, researchers, schools, and companies worldwide─may well drive the next great innovation in graduate management education.

Harnessing technology is a key component of at least five of the 20 prize-winning ideas in GMAC’s Ideas to Innovation (i2i) Challenge, a two-part initiative aiming to find and then fund top ideas to improve management education. In Phase 2, GMAC’s Management Education for Tomorrow Fund now invites schools and other non-profit education providers to submit proposals to implement any of the top 20 ideas. The best ones will win grants from the US$10 million MET Fund.

“Out of the 650 ideas submitted from more than 60 countries, relatively few had a strong technology component, yet technology-based ideas accounted for a quarter of the winners,” said MET Fund Director Allen Brandt.

Technology-based ideas eligible for Phase 2 funding include:

  • A graduate management virtual education community, a virtual space where educators, students, and business leaders can collaborate, by Alex Howland, Alliant International University doctoral candidate, and Ronald Rembisz of Rembisz & Associates. 
  • A universal video depository to organize and present management research, by Sanjith Yeruva, research technician, University of Wisconsin-Madison.
  • Alternate Reality Training, based on Alternate Reality Gaming, with students assigned high-level roles in fictional companies or institutions in a scenario that plays out over an academic year or longer, by Ethan Mollick, management professor, University of Pennsylvania Wharton School of Business.
  • A cloud computing network platform to share knowledge among business schools, by Pritesh Sikchi, founder of Green Quotient consultancy, India.
  • An open consultancy platform for companies to offer projects for MBA student teams, by Wade Eyerly, intelligence officer, Defense Intelligence Agency.

“Significantly, several of the winning technology-based ideas were submitted by current students,” Brandt said. “It indicates that today’s business students are comfortable with the technology and see technology as a tool for innovation.”

Proposals to fund these or the other 15 winning ideas will be accepted through December 16. To find out more, go to gmacmetfund.org or the GMAC MET Fund blog. Follow the Fund on Twitter at @GMACMETFund.
 

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