Mason Korea and Philips Korea Hold Inaugural Business Pitch Competition

Mason Korea recently collaborated with Philips Korea to hold the inaugural GREAT (GMU Relational Engagement of Alumni Teams) Challenge, a business pitch competition aimed at fostering innovation in the domestic beauty industry. 

Driven by the vision of Henry Joo, a Mason alumnus (BS in Decision and Information Sciences, ‘96) and Head of IT at Philips Korea, the challenge brought together 14 business students from Mason Korea who immersed themselves in a month-long exploration of innovative ideas. The final presentations, hosted at the Philips Korea headquarters in Seoul, showcased the students' creativity and strategic thinking.

The winning team, named the Great Challengers, secured first place with their innovative concept of unisex skincare devices, impressing the judges with their thorough market analysis and product design. Following closely were PK Fresh and HTTP, claiming second and third place, respectively. In addition to small cash prizes, the winning teams received Philips Korea personal health products as recognition of their achievements.

Beyond the competitive aspect, the event provided a unique platform for students to interact with Philips Korea's business leaders, providing them insights into real-world business operations. Philips Korea's participation underscored their commitment to incorporating the fresh perspectives of young college students, particularly the Generation Z demographic, into their future business strategies.

"Generation Z is the target group that aligns with the future business strategy of the personal health division, and we are committed to closely understanding the evolving needs of this demographic," said Soyeon Lee, Head of the Marketing Division at Philips Korea's Personal Health Division. 

“Sometimes the best way to learn is to do. These students were taking what they learned in their classes and applying that learning to serious business proposals,” said Mason Korea Campus Dean Robert Matz. “I am grateful to Philips Korea and Henry Joo for creating this invaluable opportunity for our students.”