The Smith School of Business and USAID's Business Growth Initiative  are pleased to announce the launch of the inaugural Global Challenge: Creating Alliances for Economic Prosperity  this week.

Teams of graduate students from across the country are invited to participate in this unique competition format, which is neither a case competition nor a business plan competition. Instead, teams will devise an entirely new public-private alliance--one that will allow a private enterprise to contribute to international development initiatives in a specified region. The challenge requires equal parts creativity, research skills, business acumen and passion for seeking solutions that advance growth and reduce poverty.

Prizes include cash ($5,000 for the winning team, plus $2,500 and $1,000 for second and third places, respectively) and the opportunities to connect with leading experts in the international development and business communities, receive guidance and build invaluable relationships with other students.

Teams may register through February 5 at www.rhsmith.umd.edu/globalchallenge .  The first round is a written submission, due on March 5, and the final round is an oral competition at USAID's headquarters in Washington, D.C., on April 23.

For more information, including the complete rules and regulations, visit the Global Challenge  on the Web.  In addition, please feel free to distribute the Challenge flier ( www.rhsmith.umd.edu/globalchallenge/pdf_docs/ChallengeFlier.pdf ) to your friends, colleagues and networks.

Thanks, and best of luck to all participating teams!