A group of AFM students took on the world of espionage in order to pitch a new business idea.
In mid-November, twelve groups from the University of Waterloo, Wilfrid Laurier University, and Brock University were given a product called “paID” as part of the EY Challenge competition. According to Bianca Vasu, an AFM team member, the paID is a “fingerprint scanning POS terminal.”
Provided with product knowledge and case information, each group was given two weeks to prepare a 5 minute “Dragon’s Den” style pitch, which incorporated external quantitative and qualitative data analysis.
The AFM group had to make several decisions regarding partnerships and development costs, which they believed were tackled successfully due to their strong background knowledge. "This competition provided our group with an exciting way to integrate the material we've learned in class to a real world situation,” explains Vasu.
Dressed as "spies" to showcase the product's security, the AFM team immediately stood out and impressed judges with their business sense and overall unconventional approach to the competition. The judges were most impressed with the fact that the calculations made by the AFM team were the closest to the solution of the case.
The AFM team (Bianca Vasu, Joseph Vaccaro, Matthew Papadopoulos, and Tiffany Xie) will now move on to nationals in Toronto in February.