Hult Business Challenge Interview with Bostons 2017 winner

As a Hult student, you learn about business by living it. And if you have entrepreneurial aspirations, what better way to incubate your ideas than by tapping into the network of global knowledge and skills on campus? Each year our MBA students embark on an intensive, seven-month project to find the best solution for a global corporation’s challenge or to launch their own startup venture. This is the Hult Business Challenge—the capstone to a global degree and a competitive test of leadership, teamwork, and resilience. We recently spoke to Michael Ballard, founder of the winning startup for the Entrepreneurial Track of this year’s Business Challenge in Boston. He told us about his idea for a more sustainable approach to agriculture and how a diverse, talented team of Hult students is helping to bring it to life. The winning team 1. Michael Ballard, USA 2. Fernando Ribiero, Brazil 3. Taffy Musoni, Zimbabwe 4. Gabriel Moreno, Mexico 5. Rachael Benton, Canada â€Å"What if we could grow food for livestock in a controlled  environment and use 100 times less water on a pound-for-pound basis?† The interview Tell us more about your business concept—what’s the objective? Our objective is to change the trajectory of water scarcity. 70% of the world’s water is consumed by agriculture—and 50% of that goes to livestock. That’s not sustainable. So we asked: what if we could grow food for livestock in a controlled environment, leveraging technology—robotics, automation—and use 100 times less water on a pound-for-pound basis? This is a really big problem on a global scale, and we believe we have a solution to it. Our goal is to bring the ability to grow feed into what we are currently calling â€Å"Controlled Environment AgTech Facilities† or CEAF. It’s healthier for the animals, cleaner for the environment, and reduces our carbon footprint. There’s even evidence that it reduces methane output, which is huge for climate change. There’s a lot of benefits to it. What was your inspiration? I came to Hult with the idea. It was an idea born out of my own need, and that can be the best starting point for an idea. I was a horse owner from an agricultural background and several years ago, I was browsing through Craigslist, looking to find the most economically priced alfalfa hay. I saw an ad that said: â€Å"Tired of paying high hay prices?† So I clicked the ad, called the guy, and had some great discussions. Through time the idea has been molded and shaped into potentially a very big project. How did you choose your team? â€Å"I needed a team of high achievers and people who were driven and passionate about making a difference in the world.† My reasons for getting an MBA were driven by my entrepreneurial ambitions. I wanted to get the right skills and the team to take this business idea forward. I knew that, in order to really make an impact, I needed a team of high achievers and people who were driven and passionate about making a difference in the world. At first, I had no idea what kind of talent was here. But I knew that we needed different skill sets to succeed, and I set out to find them. So I hustled. However, through the process, it was quite serendipitous. If I had to weigh it I would say it was about 20% hustle and 80% serendipity. How did you test the strength of your idea? Lots of feedback. We spoke to many people both inside the industry and outside the industry. I did what the lean startup method says: take a viable prototype out and test it on your market. The reality is that farmers require hundreds of tons of animal feed a day. That’s when I realized that the business wasn’t scalable using human labor. The only way to scale the business was to leverage technology like automation and robotics because the market will not let you play small—the volume of the need is just too great. What were the challenges? When you have a diverse team, often there are rambunctious discussions about what strategy we should implement, what our message is, and who should present. However, when we looked at these issues through the lens of entrepreneurship and leadership, which we studied in great detail at Hult, we were able to come to clear solutions. How did your classroom learning prepare you for the challenge? Pulling skills out of our leadership classes and putting them in the context of our team was incredibly helpful. Like the lesson about the importance of letting others shine. I thought that, as the founder, I needed to do the presentation. But actually, Rachel was better at presenting in a way that people understand. Navigating through team dynamics was very interesting and incredibly rewarding. We also saw a lot of things from our finance courses coming into play, like how to have a capital structure that maximizes shareholder returns. How do you feel this project has added to your MBA experience? It added tremendous confidence in myself and the knowledge that, through a great team, we can rise to the occasion and succeed. It also helped us understand the importance of the team environment: â€Å"if you want to go fast, go alone. If you want to go far, go together.† That is the epitome of the Hult Business Challenge experience. What’s next? Investment! After we won, two of the investors we pitched to at the finals were very interested. One of them has now taken on a very active role in helping us raise capital. We’re excited to have him on board—he’s an accomplished lawyer and businessman and he really thinks our project has a lot of potential. And he’s opening up doors to other investors. Our goal is to start in Arizona, then expand into California. From there we will see. I think what is important is that we stay flexible and see what doors open as we look forward to the future. We’ve seen incredible support from our fellow students. In fact, we had a lot of people come up and say â€Å"You’ve got to bring this to our country.†Ã¢â‚¬â€people from the UAE, Nigeria, Israel—that have said this has so many applications in so many areas. That’s because there’s a lot of industries that you might not think of that also depend on water, like manufacturing and mining. But we’re also looking at how we can use the business to alleviate food scarcity. Have a business idea you’d like to bring to life? Find out more about our innovative MBA program and the Hult Business Challenge. Kickstart your career in this education and innovation hotspot by studying at Hults Boston business school. To find out more, take a look at our blog Life in Boston: Introducing Hult House. Download a brochure or get in touch today to find out how Hult can help you to learn about the business world, the future, and yourself. Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .