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Entrepreneurship comes to life through Ivey business plan competitions

  • Communications
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  • Jan 16, 2017
Entrepreneurship comes to life through Ivey business plan competitions

Spin Master's Anton Rabie, HBA ’94, speaks with Ron Close, HBA '81; former Executive Entrepreneur-in-Residence; at a previous Ivey Entrepreneurship event.

It takes more than a good idea to be a successful entrepreneur. Planning is a big part of it.

Anton Rabie, HBA ’94, will share with students advice and highlights from his entrepreneurial journey as the keynote speaker for Ivey Entrepreneurship Weekend January 20-21. Rabie is Co-Founder and Co-Chief Executive Officer of Spin Master, maker of the popular Hatchimal toy.

The Ivey Entrepreneurship Weekend will also feature the annual IBK Capital – Ivey Business Plan Competition for MBA student teams around the world and the inaugural Spin Master – Ivey HBA Business Plan Competition for undergraduate student teams.

The IBK Capital – Ivey Business Plan Competition will feature nine entrepreneurial teams from as far away as Arkansas, Kentucky, and Thailand. Running since 1999, it is sponsored by IBK Capital Corp., which was founded by Bill White, MBA '69, and is currently led by President and CEO Michael White, MBA '00.

The Spin Master competition has eight teams representing Ivey Business School and Western University and one team from Queen’s University. It is sponsored by Spin Master, a global toy company founded in 1994 by Ivey and Western graduates Ronnen Harary; Anton Rabie, HBA ’94; and Ben Varadi, HBA ’94.

The competitions allow young entrepreneurs to develop their business plans and showcase their talents to a panel of judges and potential investors. For each competition, the winning team receives $15,000, second place receives $4,000, and third place receives $1,000.

Professor Eric Morse, Executive Director of the Pierre L. Morrissette Institute for Entrepreneurship, said business planning is an important part of the entrepreneurial process.

“At Ivey, the teaching revolves around business planning, not business plans. The iterative planning process is encouraged in the coursework before pen even hits the paper,” he said. “Business plan competitions really capture the planning and action that underlies a good opportunity.”