2018 Global Challenge Virtual Preliminary

Virtual Preliminary Overview:  

The Global Challenge Virtual Preliminary encourages students to test their business concept by cofirming that their idea meets a customer need, occupies a differentiated position in the marketplace, and has a viable business model and value proposition. 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 2, 2018. 

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.The winner will advance to the Virginia Tech Global Entrepreneur Challenge, hosted in the USA, August 16-25, to compete on a world stage for the $30,000 grand prize against other global finalist teams. 

Past Winners:

·   2017 Winner:  Team Cohex, Adolfo Ibáñez University, Chile.  Full press release.

 

Marketing:

Institutions can use this one-page flyer to advertise the Global Challenge Virtual Preliminary to their students. The 2015 & 2017 Virtual Preliminary winners went on to win the $25,000 grand prize at the Global Entrepreneur Challenge finals in August.

 

Eligibility:  Please carefully review all eligibility requirements to ensure your team meets these requirements.

  • Open to institutions who have never participated in the Global Entrepreneur Challenge before. Review the list of global university partners from 2010-2017 or contact the Apex Center staff to ensure your university hasn't previously competed in the Global E Challenge.  
  • Available to full-time university students and very recent graduates from a non-U.S. institution, who received their degrees within the twelve months immediately prior to the annual August Global Entrepreneur Challenge. (For instance, graduates as of September 2017 are eligible for the 2018 August Challenge.)
  • Teams can have up to five members. If your team has more than five team members, it is up to the discretion of your institution/team to determine the five members that will be nominated to represent your team at the Global E Challenge, in August, if you win the Preliminary.
  • The average age of team members must be 27 years or less.
  • Teams 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 2, 2018. 
  • Business models can not be affiliated with an existing business unless the model covers expansion into a significantly different industry or consumer base, or involves a major geographic expansion.
  • Business models that aren’t formed and managed by the team are not eligible.
  • Eligibility for the finals is based on winning a significant student business concept competition in the team's home region.  An example of a business concept competition model can be viewed here.
  • Presentations must be made in English for the Virtual Preliminary. If you win the Preliminary, and advance to the Global Entrepreneur Challenge, August 16-25, your presentation will also be made in English before a live audience.
  • Participating institutions and faculty advisors nominating a student team must ensure their team’s eligibility and that they meet all of the above requirements.

 

Prize:

The winner of the Virtual Preliminary will be reimbursed up to $5,000 in travel expenses for coach airplane tickets to the Washington Dulles International Airport, located in Dulles, Virginia, and will be registered to attend the Global Entrepreneur Challenge, August 16-25, in Washington, D.C., and Blacksburg, Virginia, USA.  Refer to the 2018 Virtual Preliminary Global Challenge Packet for more details on the prize. 

 

Guidelines and Judging Criteria:

Please refer to the 2018 Virtual Preliminary Global Challenge Packet for the complete guide to deadlines, submission guidelines, judging criteria, resources, and more! Stay tuned...

 

Registration:

1. March 2, 2018: Institutions will submit an "intent to support" online registration by 11:59pm EDT, March 2, committing that at least one student team from their university will participate in the Global Challenge Virtual Preliminary. Registration is free and institutions can use this one-page flyer to advertise the Global Challenge Virtual Preliminary to their students. 

Stay tuned for registration to open! 

 

2. March 30, 2018: Student teams will submit an executive summary of the business concept by following the executive summary guidelines by March 30 at 11:59pm EDT. 

 

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