While some students celebrated the start of the weekend Thursday night, 64 Commerce students competed for thousands of dollars in prize money from a national consulting firm.
Last Thursday and Friday, aspiring businessmen and women participated in the second annual Navigant/McIntire Case Competition.
The contest, sponsored by Navigant Consulting and the McIntire Consulting Group, presented 12 student teams with a real-life problem involving one of Navigant's clients, for which they had to devise a solution.
The case involved a company that produced patented integrated circuits. To cut costs, the company's largest client began producing these circuits on its own, infringing on the patent.
The teams received the case at 5 p.m. Thursday and could ask Navigant officials a few questions about the case before beginning a long night of strategizing.
"We started at 6 [p.m.] and worked until 4 in the morning, slept for two hours, and were up again at 6 to finalize our presentation," said John Teter, a fourth-year Commerce student and member of the winning team.
Beginning at 8:30 a.m. on Friday, the 12 teams went in front of a panel of Navigant judges to present their solutions and answer questions.
The judges selected two finalists to participate in a "face-off" in the afternoon, in which they gave their final proposals.
"The most profitable solution would have been to litigate," said My-Van Nguyen, a fourth-year Commerce student who was also on the winning team. "But since this was too risky, we chose to enter into a licensing agreement which we thought would be best for a long-term strategic fit."
The winning group, which took home the $2,500 first prize, included Commerce students John Teter, Eli Muis, Matt Rice, Matt Ferrari and My-Van Nguyen.
Navigant also awarded a second place prize of $500 and three runners-up prizes of $250.
The second place team included Commerce students Colette Hastings, Carrie Spengler, Sarah Choi, Brian Grabenstein, Amy Tsang and David Ding.
"We thought that the best way to use our corporate sponsorship was to sponsor a case competition and give recognition to these brilliant groups of students," said event director Bill Alesio. "It is an opportunity for us to give back to the school."
In its second year, the competition attracted four more teams and 24 more students than last year.
"I was extremely pleased with the turnout and interest level," Alesio said. "I thought the energy level was greater this year. These men and women did a wonderful job."
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