10:00 a.m. ~ 12:00 p.m., April 7, 2010
The objectives of the competition are to encourage students to develop their entrepreneurial ideas, enhance understanding of requirements for a successful business venture, and showcase the creativity of students in Virginia and western North Carolina.
Winner - Pattonslist.com
Steven Cunningham and Mike Fallon, University of Virginia
Runner-up Teams
mapMonkeys: Rishi Ishairzay and Wade Hammes, Virginia Tech
Nomuda Games: Joe Chard and Jacob Richardson, University of Virginia
Other Finalist Teams
Eco-Health Cube: Jashaun Carter, Larrishia Jacobs, & Ardarion Richardson, North Carolina A&T State University
UltraGenome LLC: Rahul Ranjan, University of Virginia
PRIZES
The Winning Team:
- receives $5,000 in cash and iPod Nanos
- qualifies for VT KnowledgeWorks Global Business Concept Competition September 1-2, 2010
- obtains workspace in the Virginia Tech Corporate Research Center for summer 2010
Second & third place
teams receive:
- $2,500 in cash
- iPod Nanos
Rules to the 2010 Student Competition
ELIGIBILITY
The competition is open to all registered college students in the Commonwealth of Virginia and western North Carolina. Only full-time students are eligible to participate and receive prizes if selected as a top five finalist team. Students may elect to work with teams of up to three; at least one student must be registered at a college or university in Virginia or western North Carolina.
GUIDELINES & DEADLINES
1. February 12, 2010: Individual students or student teams of up to three students must register by filling out an Intent to Compete form by midnight of February 12.
2. February 19, 2010: Students 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 students and 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 document 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