Welcome to the 2023 Intercollegiate Wine Business Invitational, brought to you by Tim Hanni, MW and Wine Business Education. This is the sixth year of the competition, which takes place online, and pits teams of wine and hospitality students from around the world against each other to compete for the title!
The program consists of weekly webinars, ongoing support and tutorials to keep the students engaged and productive during the contest.
Registration is ACTIVE through October 1st, 2023 which will give teams nearly 2 months to submit final projects by the November 24th deadline.
The winning team is the one that presents the best label and business plan with financials for their wine business (details below).
Gold, Silver and Bronze Awards will be given to the top 3 teams.
Coordination, tutorials, online webinars and proprietary financial calculators are provided by WineBusinessEducation.com.
KEY DATES
JUN 1 – OCT 1, 2023 – Registration OPEN!
AUG 14, 2023 – Pre Launch – Links, instructions, timeline, grading criteria and expectations available on IWBI website. Complete Registrations, finalize teams, ideas, biz plan template and rules. Each school to determine specific launch day according to their course schedule.
SEPT 11, 2023 – IWBI Launch – User and Admin access to WBE Financial Workbooks
OCT 2, 2023 – LAST CALL! – Team Registrations Deadline
NOV 24, 2023 – Final project submissions – Business Plan and Labels submitted
DEC 4, 2023 – Announcement of awards and return of project scores for grading to faculty (project grades can be provided earlier if needed to accommodate school course schedules).
Each team will prepare and submit documentation in the following key areas for their virtual brand/wine/winery:
- Business Plan – Each team provides the mission, vision and goals of the winery, outline sales and marketing strategies and conduct a competitive analysis for their wine. They will include a financial plan for which includes cost of goods, wine FOB selling price, plus distribution and pricing financials for establishing selling price of the wine in retail stores, online and restaurants.
- Wine Label including winery name, wine name and information that meets Certificate of Label Approval standards (both front and back labels including the wine and winery name, verbiage, label graphics, and legal information).