Competition Launch
October 20th
ABOUT THE CHALLENGE
The first edition of this competition for eligible Peruvian candidates, organized in collaboration with Lateral, Nómena and IE School of Architecture and Design, offers "Unlocking Invisible Urban Assets" by proposing innovative strategies to unlock the potential of underutilized urban lots and transform them into valuable assets for cities and communities.
Participants are encouraged to rethink how overlooked spaces can generate social, economic, and environmental value through creative design, strategic planning, and forward-thinking urban solutions.
Three winners will receive High Potential Awards towards an IE School of Architecture and Design Master's degree for the 2027 intake. In addition, 1st and 2nd place winners will have the opportunity to undertake internship experiences with Lateral and Nómena, gaining exposure to leading design and development practices in Peru.
Don't miss this opportunity to showcase your vision, tackle real urban challenges, and compete for one of three exclusive awards while connecting with industry leaders shaping the future of our cities.
KEY DATES
* November 6th session will provide essential context, challenge guidelines, and expert insights to help participants shape and refine their proposals. The Zoom access link will be sent via email to all registered participants prior to the session.
Kickoff & Masterclass
November 6th*
Submission deadline
November 20th
Finalist Announcement, Final Pitch & Award Ceremony
November 27th
Reimagining the Potential of Underutilized Urban Lots
Cities are full of overlooked spaces, such as vacant plots and underutilized urban assets, that offer opportunities to address challenges like housing shortages, sustainability, and urban resilience.
Unlocking their potential requires strategic thinking, interdisciplinary collaboration, and an understanding of how the built environment can create lasting impact. Architects play a key role in identifying opportunities, connecting stakeholders, and transforming these spaces by balancing creativity, feasibility, and business thinking.
This challenge invites participants to reimagine overlooked urban spaces as catalysts for regeneration, inclusion, and sustainable urban growth.
A one-of- a-kind Competition for Architects and Designers
At IE School of Architecture and Design, we believe business, entrepreneurship, and innovation are essential to architecture. Since the early 2010s, our program has built a global network of alumni working in creative leadership roles across more than 50 countries.
In collaboration with Lateral and Nómena, IE invites emerging talent to reimagine underutilized urban spaces and their potential to create lasting value for cities and communities.
Winners will be eligible for High Potential Awards covering up to 40% of tuition for the School’s Master’s programs. Selected participants will also have the opportunity to earn internships at Lateral and Nómena, gaining hands-on experience in innovative urban development and design projects in Peru.
This challenge offers international visibility, connections with industry leaders, and access to a global network dedicated to transforming the built environment.
AWARDS
1st Place
40% tuition award for any Master's program at IE School of Architecture and Design + an internship at Nómena or Lateral.
2nd Place
30% tuition award for any Master's program at IE School of Architecture and Design + an internship at Nómena or Lateral.
3rd Place
20% tuition award for any Master's program at IE School of Architecture and Design.
Please note:
• The award will be applied toward tuition fees for any of the Master's programs, for the 2027 intake.
• Admission to the Master’s program is mandatory in order for the scholarship and awards to be applied.
• Finalists will be required to attend an interview with the IE Admissions Department.
• All awards are subject to final approval by the IE Admissions Department.
• IE reserves the right to withdraw or deny the scholarship and awards if candidates do not meet the academic or - professional requirements of the program.
• Should any winning participant decline the award, the scholarship and awards will be reassigned to the next highest-rated project as determined by the competition jury.
• Participation in the competition implies full acceptance of these terms and conditions.
• Under no circumstances may the scholarship and awards be exchanged for cash, transferred to another individual, or applied to any program other than the one for which it was originally granted. Furthermore, the scholarship and awards cannot be combined with other financial aid, unless expressly authorized by the institution.
• Internship opportunities with Nómena and Lateral are designed to provide selected winners with valuable professional exposure to leading urban innovation and design practices in Peru. Specific internship conditions, including duration, timing, and responsibilities, will be determined by the host organizations and communicated to the selected recipients.
DOCUMENTS TO BE SUBMITTED
Submission guidelines: Submissions must be directly sent to peru@ie.edu before november 20th 11:59 p.m.
• Project Document (PDF): Executive summary document (5-10 pages) following the template provided by IE University – Download here.
• Pitch Deck Presentation (PDF): Participants must prepare a pitch deck presentation summarizing their proposal. Only the candidates selected as finalists will be invited to present their projects to the jury during the final event. Finalists will be announced prior to the event.
Challenge Categories
You may approach the challenge through one (or a combination) of the following lenses
EVALUATION CRITERIA
20%
Opportunity Recognition
Ability to identify and articulate the hidden value and untapped potential of an underutilized urban asset.
25%
Vision & Innovation
Originality and strength of the proposed concept, demonstrating fresh approaches to urban transformation.
25%
Urban Impact
Potential to generate positive social, economic, environmental, and placemaking outcomes.
15%
Viability & Development Strategy
Credibility of the implementation pathway, including activation, partnerships, governance, or business considerations.
15%
Communication & Persuasion
Clarity, coherence, and effectiveness of the proposal's narrative and visual presentation.
WHO CAN PARTICIPATE?
01 — ELIGIBILITY
Emerging Talent
Final-year students and recent graduates (Bachelor's degree holders) with up to two years of professional experience.
02 — IDEAL PROFILES
Built Environment Disciplines
Architecture Interior Design Urban Planning Urban Design Landscape Architecture Real Estate Development Civil Engineering Industrial Design Related Disciplines
03 — PARTICIPATION FORMAT
Individual Participation
Meet Nómena & Lateral
Nómena: Architecture with Clarity, Rigor, and Reach
Founded in Lima, Peru, in 2006, NÓMENA is an architecture studio with a presence in Colombia, Honduras, and Costa Rica. Working across diverse scales and programs, its practice is rooted in order, clarity, and timeless design. Through research and collaboration, the studio creates thoughtful, efficient architecture that responds to people and places, earning recognition in national and international architectural biennials.
Lateral: Real Estate with Positive Urban Impact
Lateral is a Lima-based real estate developer shaped by practice of architecture. Its work starts with the lot, but always by the practice of architecture. Its work starts with the lot, but always thinks beyond the building – toward better living, stronger communities, and long-term urban value.
Focused on multifamily housing, Lateral combines design sensivity, feasibility, and commercial visión to transform underused sites into carefully crafted places to live.
REGISTRATION
↓ Register on the event link as below:
Email the required documents consistently with what is described above.
Submissions must be directly sent to IE PERU Email (peru@ie.edu)
Please book a call with Maria Teresa Merino if you have any doubt.