2022 ELC underGraduate Scholarship
ExxonMobil Undergraduate Innovation Challenge
PROGRAM SPONSOR
About The Undergraduate Innovation Challenge
The ExxonMobil Undergraduate Innovation Challenge previously known as the National Business Case Competition encourages students to think about business practices and the sustainability of products and processes that will impact our future. The ELC National Competition started in 2002. Each year, students from around the country submit case studies on current business challenges. For more than 10 years, ExxonMobil has partnered with the ELC to support and evolve this competition.
This year’s national competition is open to undergraduate Engineering students. Submissions are welcomed from individuals and teams of up to two students.
We welcome Black students that are rising sophomores or juniors majoring in engineering with a 3.0 GPA to apply.
Team Formation
This year’s national competition is open to undergraduate Engineering students. Submissions are welcomed from individuals and teams of up to two students. Innovation Challenge Eligibility Requirements for all participants:
- Major: Engineering field of study (Chemical, Civil, Electrical, Mechanical, or Petroleum Engineering, etc.)
- Academic Classification as of Fall 2022: Sophomore, Junior at an accredited college
- GPA: 3.0 and above
- Must demonstrate financial need
2022 Case Topic
BigCo Energy is one of several large multi-nationals that will be a part of the ongoing “energy transition”. There is a great deal of discussion regarding a host of critical factors including supply/demand, government policy, and economics. This makes it challenging to map out a path given the need to make long-term investments years before the asset is needed. Additionally, BigCo Energy has not been immune from the impacts of the great resignation. In fact, BigCo’s industry has seen higher attrition rates than some other’s due to concerns about its future longevity. BigCo is confident that as it goes through the energy transition, it will have even more exciting career opportunities. This is a two-fold challenge. How can BigCo leverage innovation to 1) navigate the energy transition uncertainty and 2) reverse recent attrition trends.
Strategic Considerations
- Where should BigCo invest its capital dollars? Which technologies? Why?
- Should BigCo invest in developing its own technology or focus more on acquiring companies?
- What process should BigCo use to stay abreast of key developments that will impact its strategy?
- How should BigCo communicate with its employees to keep them excited and engaged about the future?
Submission
- Executive Summary, pdf. (Maximum of two pages, single space, summarizing the strategy, research findings, and recommended solutions)
- PowerPoint Presentation pdf. (Maximum of 20 slides)
Teams are required to submit the proposal and presentation as a PDF report, and if selected as a finalist, will be required to present the PowerPoint presentation to a panel of judges. Proposals will be evaluated on critical thinking, analysis, use of data and presentation skills, as well as the clarity and feasibility of the proposed strategy.
Judging Process
A panel of corporate, non-profit, academic, and policy leaders will serve as judges and review the submissions. Based on first round scores, the top three teams will be invited to the live Innovation Challenge event to present their cases to determine final rankings. Finalists will be notified by July 1, 2022. Our virtual Innovational Challenge will be hosted by ExxonMobil in Mid-July.
Awards
The first-place team will receive a $25,000 scholarship award and will be recognized during The Executive Leadership Council’s 2022 Recognition Gala in October. The second-place team will receive a $15,000 scholarship award and the third-place team will receive $10,000.
Important 2022 Dates
| Friday, April 15 | Innovation Challenge Launch |
| Tuesday, May 31 | Innovation Challenge Submission Deadline |
| Friday, July 1 | Finalists notified |
| Mid-July | LIVE Virtual Innovation Challenge Event |
| Monday, August 15 | Scholarship Award Distribution |
| October 4-6 | Honors Symposium & Gala Washington D.C (1st Place Team Only) |
