Entrants must provide:
- Full Name
- Name of Business (if established)
- Address – physical address, mailing address (if different than physical address), and e-mail
- Telephone Number
- Website (if established)
- 1,000 word “pitch” that answers the Key Questions listed below. Entrants may alter their pitch at the time of its presentation to a panel of judges in the semifinal round of the Idea Audition. The pitch may not be changed between the semifinal round and the final round.
- Any external funding received by the participant with regards to their “Idea” must be identified and reported on the application. Ventures that have raised equity capital totaling $250,000 or more from sources other than team members or team members’ friends and families, or that have realized more than $$750,000 in sales in the twelve (12) months immediately preceding the competition are not eligible. Federal grant awards, including funding form SBIR/STTR programs, are excluded from this restriction.
- Entries must be the original work of the entrant.
- Individuals may only enter one idea into the competition, whether they do so individually or as part of a team.
- Entrants will have three (3) minutes to present their pitch to the judges.
- No PowerPoint slides are allowed. A prototype and/or a presentation board may be used.
- Entrants must apply online. Online applications will only be assessed for eligibility and availability.
- Entrants must participate in one of the training session to be eligible to make their three-minute pitch.
- All eligible entrants will be invited to the Idea Audition to make their three-minute pitch in front of a panel of judges on Thursday, November 17, 2016.
- Eligible entrants will be emailed their audition time for the semifinals prior to November 17, 2016. Any entrant that is late for their assigned audition time will be considered a “no show” and cannot be guaranteed a later time.
- The Semifinal judges, in their sole discretion, will determine those entrants who participate in the Finals.
- The winner of the Idea Audition will be selected by the Finals judges.
- By submitting an idea, you represent to the Idea Audition that you have all rights, title and/or interest in the idea submitted and that the information you present is accurate and complete.
- The Idea Audition reserves the right to require at any time that any entrant sign an affidavit indicating that they do meet each of the aforementioned rules and guidelines at any point and continuously throughout the applicable competition and, as applicable, following such competition. In addition, any award is subject to forfeiture and/or repayment if the Idea Audition determines, in its sole discretion that the competitor receiving such award was not in compliance with these rules and guidelines.
Pitches will be evaluated based on their ability to answer the following Key Questions:
- What is your technology, product or service? Briefly describe what you sell and the need it fulfills (i.e. What is the problem and what solution does your product/service provide?)
- What is your target market? Briefly state to whom you are selling this product/service. How large is the applicable market? Into what industry does your product or service best fit?
- How do you expect to make money/What is your business model? Describe the projected source(s) of revenue and how you intend to get the product/service to the buyer.
- Who is your competition? Competition is positive as it confirms that a market exists for your product/service. All products and services have competition.
- What is your competitive advantage? What makes you unique? Why do you have an advantage over others? How will your company provide this product/service better than the competition?
- Who is behind the company? As the old saying goes, “Bet on the jockey, not on the horse.” Explain how the experience of you, your team, and/or your advisory board give you credibility.