Global Microfinance Case Competition (GMCC) 2020
The 2020 edition of the Global Microfinance Case Competition (GMCC) served to be the largest yet. The GMCC had firmly established itself as a premier student-run competition that engaged students across eight universities around Australia and New Zealand through its sustained success over 8 years. This year, COVID-19 presented new challenges and the team was focused on embracing these, choosing to pursue new avenues of impact and collaboration. Converting the competition into a virtual format allowed the inclusion of 7 additional international partners across Asia and North America, taking the total to 15.
With over 200 case submissions, the competition reached new heights and provided a platform for the world’s brightest young minds to compete. Our case client this year was the Manila Microfinance Foundation (MMF), an institution adapted from our own experience and analysis regarding the current struggles of Microfinance Institutions. The case asked teams to identify the major challenges brought about by the COVID-19 pandemic, and to suggest innovative solutions that would allow MMF to not only survive, but subsequently enable them to achieve future success. The most successful teams balanced commercial success with ethical and cultural considerations, a delicate balance that was truly appreciated by audience members and judges alike at the Global Finals.
Overarchingly, all teams involved should be commended for their amazing submissions – our screening committee continually remarked on the undeniable quality on display through each round. The highly thought out proposals also intrigued the array of industry judges from Kearney, McKinsey & Co., Deloitte Digital, GSANZ, YGAP and the University of Melbourne.
The Global Finals were successfully held over Zoom, with the following finalists:
1. Mirage Partners, Nanyang Technological College (Prize: $1000)
2. Coldstream Consulting, University of Sydney (Prize: $500 & fast tracked to the Kearney 2021 Summer Internship)
3. Team NCPG, Nanyang Technological College (Prize: $250)
We would also like to thank all of our university partners, without whom the size and success of the competition would not have been possible. Hope to see you next year!
Throughout this journey, I have persistently stated that the GMCC brings together everything great about MMI, highlighting each of the values that we stand for as well as our commitment to students and sponsors alike. To adapt in the way we did during a worldwide pandemic and scale our impact through technology is a true testament to the quality of characters we have across our team. It was a pleasure to meet students from around the world, and inspiring to see the ingenuity and passion with which they presented their solutions. Forging these new relationships will serve as a great foundation for future collaboration, and we are ecstatic to have expanded our network of driven, impact-minded students. As the world returns to normal (or as Zoom calls become the new normal), we will undoubtedly continue to ponder the many lessons from the 2020 Global Microfinance Case Competition.
Angus Kennedy, GMCC Director 2020
“The microfinance industry piqued our interest especially during the COVID-19 pandemic. GMCC 2020 allowed us to gain valuable industry knowledge and casing experience. Each round of the competition presents to us a new set of challenges as we grow and develop our soft skills such as presentation skills and technical skills in understanding the microfinance industry.
What made GMCC unique was that teams were given the opportunity to work on a live case and provide recommendations to empower underprivileged communities in the Philippines while considering the impact of COVID-19. In such trying times, this theme is especially meaningful to us as we stand in their shoes to understand their troubles.
“We would like to thank the organising team for doing an excellent job in planning for such a smooth and well-run competition. Our journey during GMCC 2020 has been extremely pleasant and we are very grateful to be given this opportunity. We would also like to thank the audience for taking their time off to watch our presentation and special thanks to the judging panel for shedding new light on the case and being generous with their feedback. We will continue to work on the suggestions and we hope to hear again from you guys next year!”
Nanyang Technological University
Mirage Partners: Yap Qi Long | Jasmine Low
| Kenneth Teh | Tan Jia Jie QYAP003@e.ntu.edu.sg