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FAQs

Frequently Asked Questions ~ Student Business Concept Competitions
If you still have questions after reading this FAQ, email us.

» Who is eligible to apply?
Submissions are accepted from any registered, full-time, college student in Virginia or North Carolina. If your team is selected as a finalist, your team will present on April 13, 2011 at The Inn at Virginia Tech and Skelton Conference Center in front of a live judging panel and audience. The winning team will be announced the same day at the Networking Reception and Student Awards Presentation at 4:00 p.m. in Latham Ballroom at The Inn.

» What kind of business idea can I submit?
Technology-based business ideas.

» Can I participate on more than one team?
Yes. A separate Intent to Compete registration must be submitted for each team/concept.

» Is there a fee to apply?
Yes, there is a nominal $25 application fee for each team/concept.

» If I am a Virginia Tech student, may I also submit my idea to the other Student Business Concept Competition open to college students from universities in Virginia and North Carolina?
No; students from Virginia Tech can only submit their ideas to the local Virginia Tech Student Competition.

» What is the maximum team size?
Teams may consist of up to five students and only full-time students are eligible to participate and receive prizes if selected as a finalist team. Students can elect to work with teammates registered at a different college or university in Virginia or North Carolina. The average age of team members may not exceed 25 years.

» How developed does my business idea need to be?
Although this is a business concept competition, you will be expected to explain the customer need being met by the product or service, size of the market opportunity, competitive advantage, business model and value proposition (how will your company make money), and some financial projections and funding needs/sources.

» Who will be evaluating my idea?
The judges consist of business leaders, seasoned entrepreneurs, and/or investors.








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