thunderbird emerging markets
T-birds Host “Shark Tank”-like Entrepreneur Challenge in Madagascar by Aaron Rockwell, Master of Global Management, ‘17
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his summer between Spring and Fall terms, the Thunderbird Emerging Markets (TEM) Lab team that I was a part of had the chance to work CARA (a business incubator) in Fort Dauphin, Madagascar (Anosy Region). One of the main deliverables that the team’s client wanted was business plan creation taught to the staff. This was a curve ball thrown from the onset because the team arrived believing that the project was going to be focused on developing a mentorship program. As I learned, however, this is exactly what makes an Applied Learning experience so valuable.
MEET AND GREET: The surrounding coast where the team was set to work was littered with shipwrecks. The team did not want to experience the same fate with the CARA staff, so upon arrival to Fort Dauphin, we had
breakfast with the staff to introduce ourselves and start building a relationship.
SERENDIPITY: Before setting sail for Madagascar, the team created a crowdfunding campaign because we thought it would be important to give back to a region that has suffered from hundreds of years of poverty, malnutrition, business voids, and political strife. Though that was the picture we had in our minds before disembarking, we never realized how great the people and welcoming the country would be. The crowdfund site was able to raise a significant amount of money. This birthed the idea to combine two key project elements: general business plan training and applied learning. The applied learning piece involved providing CARA coaches with real-life experience in creating a business plan for an actual client. Hence, the CARA Entrepreneur Challenge was formed.
THE PROCESS: The team set up connections with local organizations to create the contest. Since a previous business plan contest, announced to the general public, yielded 470 entrants, this time we had to be selective. The team therefore advertised to the local JCI chapter (junior business professionals), a local university, and the local English center.
THE FIRST DAY OF THE CONTEST: The first day of the contest arrived, starting with the jitters that form in the face of the unknown, but turned to a great success. The panel of “Shark Tank” judges asked poignant and applicable questions to the contestants. Contestant business ideas included: biodegradable gas from Zebu waste (the local cow with a hump), a countryside pharmacy, woodworking artisan, smoked fish, ‘employees for hire’ firm, and several others.
FIRST ROUND DELIBERATION: The judges included: • Director of the chamber of commerce • Local content manager for Rio Tinto • Director general deputy of a microfinance agency (IFRA) • Regional director of industry, private sector, and development After the scores were tallied the judges met secretly to decide if the final contestants made sense. Three entrepreneurs were selected to move on to the next round to include: the woodworker, the smoked fish idea, and the
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winter 2018
