Marriott Alumni Magazine

Winter 2016

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School News continue to grow and inspire all types of entrepreneurs." Second place and $20,000 went to REEcycle, which reclaims rare earth elements from discarded electronics. Resumazing, a web service that helps job seekers land their dream jobs, took third place and $10,000. These teams joined top student entrepreneurs from around the globe who gathered to compete at the world's largest business model competition, hoping to win a share of the $155,000 awarded dur- ing the two-day event. In addition to the main event, teams were also judged during this year's inaugural Pivot Pitch Competi- tion on a two-minute pitch about the most significant pivot their company has made. Cohosted by Harvard University and BYU's Rollins Center for Entrepreneur- ship and Technology, forty teams were selected from a pool of more than 3,800 that had participated in IBMC-affiliated competitions in recent months. Since the inception of the IBMC, participation has increased yearly from six universities in 2011 to 276 universities in 2015. The IBMC allows young entrepreneurs not only a chance to win crucial funding for their ventures but also an opportunity to gain mentoring advice from some of the top business leaders in the world. "We hope when students come and take advantage of the mentoring sessions that they will learn how to improve their business models and teach others what they learned," says Pavel Yurevich, IBMC student director. Student newS Hail Mary Leads to Quiz Bowl Title The BYU football team converted two desperation passes into heart-stopping wins over Nebraska and Boise State early in the 2015 season. But in Las Vegas last September, there was another BYU team making magic with its own Hail Mary. Down big at the National Recreation and Parks Association's annual Student Quiz Bowl, four Marriott School students came from behind in the first round BYu Hosts International Business Model Competition Kaitek Labs, a student-founded company based in Santiago, Chile, took home more than $30,000 in winnings at the 2015 Emilia Díaz, founder and CEO of Kaitek Labs and a student from the Pontifical Catholic University of Chile, celebrates winning first place at the 2015 International Business Model Competition. International Business Model Competi- tion, held at BYU. This marks the first time an international team has won first place in the history of the event. Kaitek Labs impressed the judging pan- els with its business model for a red-tide bacteria detection kit—which changes colors to indicate contamination, similar in use to an at-home pregnancy test. The team represented one of eight countries to participate in this year's competition. Emilia Díaz, founder and CEO of Kaitek Labs, was excited for the opportunity to showcase her team's unique viewpoints. "Winning the competition helps show that people who are underrepresented in business can integrate new views and ideas," Díaz says. "I hope we can byu Hits Best Mark in One U.S. News Ranking, Stays High in Others Year in and year out, BYU ranks in the top tier of national universities, according to U.S. News & World Report. is past year was no differ- ent, with BYU coming in at No. 66 among the roughly three hundred universities listed in their annual rankings. But BYU inched up to its high- est rank ever in another category: graduates with the least amount of debt. Coming in at No. 3, BYU joins Princeton, Caltech, Yale, and Harvard in the top five. e ranking considers the percentage of graduates with debt and the average amount of that debt for each student. According to U.S. News, 74 percent of BYU students graduate debt free, while those who do owe money average $14,021 in debt. U.S. News also ranked BYU as the No. 16 best value school in the country. e best value ranking weighs a school's academic quality against the cost of attendance. In another report released by Money Magazine last summer, BYU ranked No. 15 in the country for schools that provide the best value. at ranking weighed educational quality, affordability, and alumni earnings. Meanwhile, the undergraduate programs of the Marriott School continue to get high marks from U.S. News, including a No. 34 overall ranking. e Marriott School's accounting program is ranked No. 3, its international business program ranks No. 19, and its entrepreneurship program comes in at No. 23. 36 MARRIOTT

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