Experiences shared from former grand prize winners.
Helpful resources for global participants.
Business Concept Overview:
A business concept is an attractive and well-researched market opportunity for which the team has devised a powerful and innovative response, including a viable financial business model. The prize is focused on supporting educational entrepreneurship at an early stage of development. Therefore, applicants are encouraged and expected to have a working prototype, but they must not have received beyond $100,000 in investments from private investors and/or government agency funding beyond research grants, nor offered product(s) for sale except in market survey mode, before March 1, 2017. The judges consider the viability of the market opportunity, the strength of the team’s response, the strength and balance of the team, the overall predictability of a success, and the professionalism of the presentation. Proposed products/services that support a sustainable environment or specifically address needs of underdeveloped countries are encouraged, but no special credit will be assigned to such business concepts.
By participating in or attending the Global Student Entrepreneurship Challenge and Global Partnership Event, which is held in a public area, any participant or attendee may be photographed, filmed, and/or otherwise recorded. Your presence constitutes your consent to such photography, filming and/or recording and use of your image, voice, and/or likeness in any media for educational, informational, publicity, and promotional purposes in connection with this event. All photography, filming, and/or recording will be done in reliance on this consent given by you by your presence at this event. If you do not agree to the foregoing, please do not enter the area in which the event is being conducted.
Please carefully review all eligibility requirements and confirm your participation with the VTKW Staff first, before registration.
Prizes will be awarded in the amount of $25,000 for first place, $10,000 for second place, and $5,000 for the People's Choice. Please note tax will be withheld from the prize payment. The standard withholding rate is 30%. Read more about the specific prizes awarded.
Each student team will deliver a 10-minute presentation about their business concept before a panel of judges and interested onlookers, including other competing teams.
Presentation guidelines - Review in preparation for presentation. We ask that you cover the requested information but feel free to do so in the appropriate order for your team/presentation.
Example presentation - An example of a "real" business plan presentation.
|Judging Criteria||Maximum Score|
|Clear Description of Customer Need Being Met and that Customers are Willing to Pay for Product or Service||15|
|Target Market Size Quantification (number of customers, annual dollar size) and Risks Associated with Chosen Market||15|
|Competitive Advantage in Marketplace (include table comparing with competitors and venture's IP position)||15|
|Financial Information (projected revenues and financial viability of the business based on product or service sales (not philanthropic or grant funding), projected gross margin (% of sales); projected operating income; projected funding required||15|
|Market Capture Plan (milestone chart, market entry, first customer capture & market growth projections)||10|
|Proposed Business Model (marketing channels and alliance partnerships)||10|
|Required Core Competencies||10|
|Professionalism of Presentation||10|