Sustainable Games: The Business Model Challenge
Summary
In 2014, Cornerstone Capital Group launched the Sustainable Games Business Model Challenge offering university students the opportunity to use the array of technology around them to build a global team whose members will create the innovative business models with the potential to drive global environmental, social, and governance (ESG) progress well into the future. Each business model will be based on a selection from Cornerstone’s proprietary Sustainable Domain Bank, and be awarded start-up capital, a domain name to launch, and business advisory services from Cornerstone Capital Group’s expert staff and advisors. The business models must align with Cornerstone’s vision for a more regenerative and inclusive form of capitalism, and should reflect a value inherent in the systematic understanding of today’s ESG imperatives. By forming teams with individuals from different cultures and countries, the competition will foster diversified thinking, better collaboration, enhanced global perspectives, and ultimately the creation of better solutions to today’s global issues.
Approach
APPROACH:
In 2014, Cornerstone Capital Group, in partnership with UN PRIME and RobecoSAM launched ‘Sustainable Games: The Business Model Challenge’ to offer university students the opportunity to use the array of technology around them to build a global team whose members will create the innovative business models that have the potential to drive global environmental, social, and governance (ESG) progress well into the future.
Each business model will be based on a selection from Cornerstone’s proprietary ‘Sustainable Domain Bank,’ containing more than 2,000 domain names which are each an articulation of potential business models, principles and practices. The business models must align with Cornerstone’s vision for a more regenerative and inclusive form of capitalism, and should reflect a value inherent in the systematic understanding of today’s ESG imperatives. Finalists will present before a panel of judges (comprised of Cornerstone Global Advisory Council, Staff and Sponsor Representatives) at an exclusive Cornerstone event attended by leading industry experts from around the world. The winning team(s) will receive a monetary reward that can be applied towards launching their business model, as well as a domain name to launch.
Each team will be comprised of students located in different countries and universities in order to foster diversified thinking, better collaboration, enhance global perspectives, and ultimately allow for the creation of innovative solutions to today’s global issues. Teams will communicate and build their business models using video chat, document sharing, and other available tools that allow teams to work together without physically being in the same location. Finalists will meet in person at Cornerstone’s exclusive event where they present their business models. Team finalists will be paired with a mentor from Cornerstone’s Global Advisory Council or Sponsor Representatives. One finalist spot will be designate by a ‘Peer Vote,’ where students from around the world will have the opportunity to vote for their favorite business model.
PRME will be responsible for the Competition’s Global University Outreach and coordinate with local universities for all local logistics. RobecoSAM will provide team finalists with valuable guidance in a mentorship capacity to encourage driving sustainable investment practices, and will also help fund and market The Business Model Challenge.
ACTION PLAN:
10/2014 – Select Host Universities
Fall/2014 – Launch Global Marketing Campaign
12/2014 – Launch ‘Sustainable Games’ Official Website
1/2015 – Open Competition
2/2015 – Team Notifications Begin
6/2015 – All Team Submissions Due
Summer/2015 – Finalists Selected and Paired with Mentors
Fall/2015 – Finalists Compete in NYC at Cornerstone Event
Background
Today, the global economy faces extraordinary challenges. We face daunting situations in diplomacy, human rights, infrastructure, education and healthcare, climate science, demographics, business ethics and finance. To make progress on the major issues of our day, we must have multiple parallel processes and initiatives that allow for an ultimate convergence to a better path. We must have systems, companies, colleagues and leaders with the capacity to ‘Embrace the Grey’ and a means to applaud, stimulate, and reward incremental progress.
Progress, however, can only be made when the capital required to fund such evolutionary endeavors is readily available. At Cornerstone Capital Group, we believe that the critical role of finance and banking must be recognized, restored, and facilitated. This requires a concerted effort to drive greater transparency and collaboration across all functions of the capital markets.
Given the global societal imperatives we face, we must ensure that our future leaders embrace a form of capitalism that is transparent, creative, diverse and well governed. A business model competition based on global sustainability issues will give students, our future leaders, a chance to think creatively, collaborate globally, and collectively shape the businesses of tomorrow.
Progress Update
March 2016
Cornerstone Capital created a panel of judges to attend the pitches made by finalists in the Sustainable Games competition. Presentations took place in October 2015. The judges selected a winner, and Cornerstone Capital CEO Erika Karp conducted a conference call with all the finalists to announce the winner. The winning team was awarded $25,000.