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Frequently Asked Questions 2016

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 at Virginia Tech. If your team is selected as a finalist, your team will present on March 30, 2016, 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 Awards Presentation at 4:15 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 One-Page Summary must be submitted for each team/concept.

» Is there a fee to apply?
There is no fee to enter the Global Entrepreneurship Challenge Semifinals.

» What is the maximum team size?
Team size is not restricted, but only full-time students are eligible to participate and receive prizes if selected as a finalist team. The average age of team members may not exceed 27 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.

A business concept is an attractive and well-researched market opportunity for which the team has devised a powerful and innovative response, including a viable financial business model.  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 cash investments from private investors, government agency funding beyond research grants, nor offered product(s) for sale except in market survey mode at the time the application form is submitted:  February 5, 2016.  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. 

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

Company: VT KnowledgeWorks
Street: 1715 Pratt Drive, Suite 1000
Postal/City: Blacksburg, Virginia 24060
Phone: 540-443-9100
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