The administration subteam is in charge of the logistical and financial management of the team, sponsorships, as well as developing the entrepreneurial/commercialization aspect of the project.
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Each year, the administration subteam develops an entrepreneurship plan by creating a comprehensive business strategy tailored to the project. This includes identifying stakeholder needs, analyzing customer segments, and conducting interviews to uncover potential market gaps. The goal is to explore how the team's research can address these gaps and create a viable commercialization pathway for the project.
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UBC iGEM operates on an annual budget of around $15-25k per year. Part of the role of the Adminstration subteam is to ensure the proper usage of these funds and ensure the financial stability and viability of the club. This includes preparing and reforcasating budgets, account reconcilliation, purchase processing, reimbursements, and much more.
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As a student team, we must fully fund ourselves for each competition year. This aspect includes building sponsor relations, contacting sponsors, and securing funds for each competition year.
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