Student entrepreneurs compete at EXIST-priME Cup at Akademie Würth for market leadership
Künzelsau. EXIST-priMe Cup - a Germany-wide competition in business simulations for students - shows how exciting it can be if companies fight for leadership in the market. About 1,200 participants from 100 universities, Fachhochschulen (universities of applied sciences) and private colleges of Germany participate in the three-stage management and entrepreneurship competition that is organized by the Federal Ministry of Economics and Technology.
On 7 and 8 February 2008, 14 students from Reinhold-Würth-Hochschule, Zeppelin University Friedrichshafen and the University of Stuttgart competed in four teams against each other at Akademie Würth. They met in Künzelsau in one of the Germany-wide 39 Master Cups to reach the next higher step in the competition.
Task of the college teams in the Master Cup was to manage a medium-sized manufacturer of copy machines: The participants were requested to optimally use the economic development on the national and international market to exhaust existing sales possibilities for newly developed devices.
Although the takeover of the company was purely fictitious, the products existed only on paper and the share prices were not listed at the stock exchange – there were two days full of great excitement at Akademie Würth: Entrepreneurial ideas were designed, strategies developed and decisions made. ”The students always join in with great enthusiasm,” knows Dr. Stefan Wiedmann, competition master of the EXIST-priME Cup, from longstanding experience.
On Friday afternoon, the participants were requested to present the company and the business development in the business simulation to the jury. Finally, it was the team of Reinhold-Würth-Hochschule with Thomas Bachmayer, Bastian Schütz and Markus Stadler that was one step ahead of the others: The group could convince the jury with its good result and is now going to participate in the second stage of the EXIST-priMe Cup, one of the six Professional Cups that take place in Germany.
The EXIST-priME Cup
The EXIST-priME Cup is a business simulation that takes place at all German universities, colleges and Berufsakademien (professional colleges). Students from all faculties and semesters who want to engage with tasks of management and entrepreneurship in a playful way are allowed to participate.
39 Master Cups (first stage of the competition) are played all over Germany. The best teams reach the second stage of the competition (the six Professional Cups). The finals will take place in the fall of 2008 where the 12 best teams (first and second places in the Professional Cups) will meet in Berlin.
Patron and organizer of the EXIST-priME Cup is the Federal Ministry of Economics and Technology. University of Hohenheim, Stuttgart Media University as well as University of Applied Sciences Regensburg are in charge of the project implementation.