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For Professors

The RBC Next Great Innovator Challenge® is a unique program that offers Canadian university and college students the opportunity to influence the future of the financial services industry in Canada. Past challenges have been a huge success and we’re looking forward to seeing more exceptional work this year.

Learn more about the Next Great Innovator Challenge

Embedding Next Great Innovator Into Your Classroom

We are delighted that the Next Great Innovator Challenge is being embedded into course curriculums across the country. If you’re planning to use the Challenge as a teaching tool in your course, read on for suggested next steps.

What’s in it for you:

Clearly, the Next Great Innovator Challenge is a great opportunity for students – but professors can also benefit from all that the program has to offer.

By embedding it in your course curriculum, you can utilize the Challenge to motivate your students, and as an opportunity to teach real-world business problem solving. By making the Challenge part of your course outline, you will:

  • Receive RBC support
  • Incorporate discussion of the Challenge support content and materials (found in the Resources section of this site) into your course material
  • Get the chance to have your students’ solutions implemented by RBC Royal Bank
  • Enjoy exposure for your school as a participant — and potentially as a finalist team!
  • Boost your credibility and that of your school, be known as innovators invested in the future success of their students

To incorporate any of the Next Great Innovator challenges into your course or program, please contact us or reach out to us on facebook and we will be happy to book a detailed conference call with you.

 

The 2013 RBC Next Great Innovator Challenge

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You are on: Business Challenge

RBC Next Great Innovator Challenge – Business Challenge*

The Business Challenge is open to students at any Canadian post-secondary school. The challenge runs for the duration of the fall semester (see specific dates) with initial judging completed by December Holidays and the Final presentations and judging in Toronto on January 17, 2014.

The Challenge Question

Big data is alternately defined as:

"high-volume, high-velocity and high-variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making." (Gartner)

"the frontier of a firm’s ability to store, process, and access all the data it needs to operate effectively, make decisions, reduce risks, and serve customers." (Forrester)

RBC has access to reams of data about all of our clients - every financial transaction that they've done, for example. How do we make sense of all of this information to make better decisions - turn it into action - run our business better? In simple terms, how can we turn this mountain of data into wisdom?

Accordingly the Challenge question for 2013 is:

Suggest an innovative concept that will enable RBC's businesses to use big data to create a competitive advantage.

Your innovation:

  • Should be tailored to either the enterprise as a whole, a specific RBC line of business (i.e. Canadian Banking, Wealth Management, Capital Markets, Insurance, etc.), or a sub-line of business (i.e. Commercial Banking, Global Asset Management, Global Treasury Services, Life & Health Insurance, etc.)
  • Should deliver measurable value to clients, staff or the enterprise
  • Could have an internal/employee or external/client focus
  • Could identify opportunities from a global perspective
  • Should NOT rely on a specific single product ("create a Data Warehouse" is not a suitable answer)
  • Should NOT be solely for promotional or branding purposes

Expand How to Enter

 

Expand Selecting the Winners

 

Expand Prizing

Read the rules pdf

You are on: Jam Division

RBC Next Great Innovator - Jam Division*

The Next Great Innovator Jam Division is an intense competition in which students will compete in teams to solve innovation problems. These intense challenges are designed to help students understand the fast pace, ever-changing, time-crunched world of business professionals. These challenges may take place on campus, within a class, at RBC, or at another offsite location.

Registration and Prizing

Registration, prizing and rules are unique to each competition and will be announced at the start of each challenge. To find out if there’s a challenge scheduled for your school, follow us on Facebook (opens new window) to view our calendar of events.

If you’re interested in organizing a Jam Division challenge with your class or at your school, contact us (opens new window) for more information.

To incorporate any of the Next Great Innovator divisions into your course, please contact us and we will be happy to host a follow-up conference call..

 

* IN ALL CASES THE ACTUAL RULES OF THE COMPETITION SHALL GOVERN

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