There is an article today in the Daily about Gumball Capital, and talks about how they are encouraging students across the nation to participate in the Gumball Challenge. The Challenge is going to be run this November at schools like Yale, UCLA and Berkeley. Of course Stanford is running one too – and I’m in charge of making it happen.
Here’s the gist of it – on November 7th, teams of students will get a Starter Kit with gumballs, a $27 loan and a guide book. They’ll have one week to create value by thinking outside the box. They return the loan at the end of the week, and any revenue will to the Gumball Fund – which supports developing-world entrepreneurs through Kiva.org. Teams can win prizes for their innovation and the value they create.
I think what’s exciting about the challenge and separates it from other business-y competitions is that you don’t need to write up a business plan. You don’t spend two months doing applications. It’s just one week creativity spree. No business experience necessary. Definitely