RIC_SAQ

Retail Innovation Challenge

Rethinking Wellness
in 2022

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About the Retail Innovation Challenge

The Bensadoun School of Retail Management at McGill University is excited to invite university students across Canada to participate in the Retail Innovation Challenge (RIC). This challenge presents a unique experiential learning opportunity to mobilize the knowledge and creativity of university students and embolden them to generate actionable solutions to help local SMEs succeed in the new realities of retail.


What to expect

Phase 1 —
Ideation
October 20-23

Teams receive instructions for their assigned Case Study on Thursday, October 20th and must submit their presentation via email on a supplied template by midnight Saturday, October 22nd. Those advancing to the semi-finals (5 teams per case study) will be advised by Monday, October 24th.

Phase 2 —
Implementation
October 24-30

Submissions will be due Saturday, October 29th at midnight. Virtual team presentations of 10 minutes are held Sunday, October 30th. Finalist teams (2 teams per case study) will be announced on Monday, October 31st.
 

Phase 3 —
Business Plan
Oct. 31-Nov. 5

Finalists must submit their presentation by Friday, November 4th - 8pm. Presentations will be held Saturday, November 5th, in person or virtually if required.

 


Final presentation format

The finalists, 2 teams per case study, will present in front of a live panel of judges including: business case owner, consulting firm associates, McGill professors and a senior level representative from the SAQ, our title sponsor.

Prize money

Each finalist team will win prize money. For each case study, first place team wins $2,500 while second place team wins $1,000. The overall Grand Prize-winning team receives $10,000 in total.

Virtual and in-person presentations will be done in front of a panels of judges who will evaluate your proposals by its impact on:

Viability of
Ideas, Solutions & Financials

Use of
Supporting Data

Quality, Clarity
& Creativity

Impact on
Business

Impact on
Stakeholders

 

This edition’s theme is Rethinking Wellness in 2022

The third edition of the RIC will take place in a hybrid format from October 20th to November 5th, 2022, with a focus on the wellness sector. Our aim is to write case studies based on three local SMEs from a range of different verticals within this sector.

 Retail Innovation Challenge


Why Participate?

Get real-world experience working on real business cases

Potential for senior-level mentorship to further develop your ideas

Make an impact on the future of retail during these unprecedented times

Win prizes such as Grand Prize of $10,000!
 

 

 

The student teams will benefit from town halls with leading experts from our partner organizations. We are planning for the finalist teams (Phase 3) to benefit from personalized coaching from a globally recognized management consulting firm.

We are delighted to announce the SAQ, Société des alcools du Québec (Quebec liquor board), as the title sponsor of the RIC 2022. This will significantly increase monetary prizes for the best teams, including the $10,000 grand prize!

Other sponsors and partners include: Quebec Ministry of the Economy and Innovation, GURU, Quebec Retail Council (CQCD) and a globally recognized management consulting firm.


If you have any questions, please contact us directly at bsrm.mgmt [at] mcgill.ca.


 

Title Sponsor

SAQ    

 

Other Sponsors & Partners

Quebec Guru CQCD
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