However, the challenge at Formula Student is not limited to the race track; the teams also have to demonstrate their entrepreneurial skills. This is particularly evident in the business plan presentation, in which the students of the Bachelor’s degree program “International Management” were able to achieve an impressive 75 points, which corresponded to a perfect score of 100% in this category. Up to 1000 points could be achieved in the overall ranking.
For many years, the students of the Institute of International Management and Entrepreneurship have played a key role in ensuring that Joanneum Racing Graz is among the world leaders in this discipline. In the 2023/24 season, nine motivated students were part of the “Business & Cost” team.
Their mission? To develop an innovative, captivating business model built around the racing car – and to present it convincingly to a jury acting as potential investors. After intensive brainstorming, the team decided on “Edrenaline”, an interactive exhibition that takes visitors on an exciting journey through the flow of electricity in an electric car. From the battery to the inverter to the motor – everything is explained in an exciting way and made tangible through interactive elements.
But ideas alone are not enough. A solid implementation plan was required. What markets are there for this idea? Can the target group be reached? What partnerships are needed? And above all: How can we get investors excited about “Edrenaline”? All these questions were thought through and the answers were packaged in a powerful 10-minute presentation.
The reward for this hard work? Three first places in the Netherlands, Austria and the Czech Republic, a second place in Hungary and a third place in Italy. The team once again proved that it is one of the best teams in the world in the business plan discipline, helping Joanneum Racing Graz to an overall victory in the Czech Republic and further podium places.
