2:00 ~ 5:00 p.m., April 7, 2010
The objectives of the competition are to encourage prospective technology entrepreneurs in Virginia and western North Carolina, to test their business concepts, and enhance their understanding of requirements for a successful business venture.
Winner
- Smart College Visit, Inc., founder and CEO Kelly
Queijo
Other Finalists
The four other finalists selected to present
at the Open Competition on April 7 at 2:00 p.m. included:
- Actifity.com: Fred Cook
- CollabKode (CK): Amjad Hussein
- Handshake 2.0: Anne Giles Clelland
- RRx: Robert Giles
PRIZES
The winning team gets their business accelerated at VT KnowledgeWorks, including:
- Admission to Founders’ Readiness Retreat
- Pre-Launch Strategic Package
- Virtual Residency
- One-year membership to Presidents’ Council
- Obtains workspace in the Virginia Tech Corporate Research Center for summer 2010
Rules to the 2010 Open Competition
ELIGIBILITY
The competition is open to all entrepreneurs in the Commonwealth of Virginia and western North Carolina. Teams may consist of up to three people.
GUIDELINES & DEADLINES
1. February 12, 2010: Individuals or teams of up to three people must register by filling out an Intent to Compete form by midnight of February 12.
2. February 19, 2010: You must submit a one-page summary of the business concept by following the one-page submission guidelines by midnight of February 19. These will be reviewed by a panel of faculty and local business leaders; and those chosen to participate in the competition will be announced February 23, 2010.
One-Page Summary Guidelines ~ Review before submission
3. March 8, 2010: The announced individuals or teams that were chosen to compete (on February 23) must submit a more detailed business concept document by following the submission guidelines. This is to be a three to five-page document and the top five finalists for the competition will be announced Monday, March 15, 2010. The business concept will be critiqued on the dimensions listed below.
Business Concept Guidelines ~ Review before submission
Business Concept Judging Criteria:
|
|
Maximum Score
|
| Clear Description of Product or
Service Idea
|
10
|
| Concise Description of Underlying
Technology
|
10
|
| Expected Customer Base and Match of
Product/Service Characteristics to Their Needs
|
20
|
| Unique/Competitive Features Provided
to Customers
|
20
|
| Market Size Description (growth rate,
etc)
|
10
|
| Value Proposition: How will the
company make money
|
20
|
|
Funding Needs and
Potential Sources
|
10
|
|
Total
|
100
|
4. April 7, 2010: The five
finalists will present their business concepts at the
Entrepreneurship Summit before a panel of judges as well
as angel capital and business leaders and others
attending the Summit.
Presentation
Guidelines ~ Review in
preparation for presentation
Presentation Judging Criteria: Judges
will rank the finalists; and awards will be presented at
NCTC TechNite.
|
|
Maximum Score
|
| Clear Description of Product or
Service and its Features
|
10
|
| Concise Description of Underlying
Technology and Required Development for Product
or Service
|
10
|
| Expected Customer Base and Match of
Product/Service Characteristics to Their Needs
|
20
|
| Market Size Description (growth rate,
etc)
|
10
|
| Competitive Position in the Chosen
Market
|
20
|
| Value Proposition: How will the
company make money
|
20
|
|
Funding Needs and
Potential Sources
|
10
|
|
Total
|
100
|
HOW TO
PREPARE
1. Meet the above mentioned deadlines.
2. Carefully review and follow instructions and formats
for the