Idaho Entrepreneurship Challenge 2016 Rules and FAQs

Idaho Entrepreneur Challenge 2016

Idaho Entrepreneur Challenge2016

Participation Guidelinesand FAQs

Boise, IDMarch 31 and April 1, 2016

GENERAL INFORMATIONParticipation Guidelines


GUIDELINES• Student teams must include at least one degree-seeking

undergraduate or graduate student enrolled in an Idaho university or college.

• Competition teams will be judged on sustainability of the idea and strength of the venture implementation plan. Among the areas of judging focus are:– PLAN: Viability of the approach and strategy, – TEAM: Composition of team toward skills, experience, and ability to

identify and fulfill team gaps, and – IMPACT: Innovative and sustainable solutions for major problem, with

measurable impact.• Competitors may submit ONE venture per competition year.


CATEGORY/TRACK

Competitors may submit their venture in one of the following tracks. Select your track from those listed below that best match your venture.• Agriculture/Agriculture Technology• Health/Healthy Living• Technology/Consumer/Service• Social/Cultural/Environmental Impact


JUDGES FOCUS

• PLAN: Viability of the approach and strategy,• TEAM: Composition of team toward skills,

experience, and ability to identify and fulfill team gaps, and

• IMPACT: Innovative and sustainable solutions for major problem, with measurable impact.


Describe your PLAN• Please describe your team’s examples of staged

experiments that include activities such as customer discovery and/or customer validation, market research and other related activities. The plan should include a description of the progress, outcomes and learning as a result of the experiments. (500 words or less)

• In this section, please describe the activities that the team can and will execute. Your submission can include industry analysis, market analysis, internal resource analysis, SWOT analysis and financial plans such as income statement, balance sheet and cash flow statement.


Describe your TEAM

• Succinctly describe each team member’s role or area of responsibility and explain how her/his skills and/or personal background contribute to the proposal’s sustainability. Relevant skills and personal background information can include academic major, work experience, intern experience, or a description of skills that each member brings to the team. (200 words or less)


Describe your IMPACT

• How does your proposal represent an innovative approach to solving a major problem related to your chosen track? How can your proposal be scaled? Once implemented, in what ways will its impact be substantial, sustainable and measurable? (200 words or less)


Important IEC 2016 Dates• February 12, 11:59PM: Applications due for the

Preliminary Round• Late February: Finalists announced and invited to

Boise for the finals• March 31: Competition Check-in @ Zions Bank

Building 17th Floor, hosted by Zions Bank• April 1: Final Competition Events– Presentations: Panels A, B and C– Demonstration Expo: Teams demonstrate their

business ideas (tabletop + pitch)– Speaker and Awards Banquet


ELIGIBILITY & PARTICIPATIONFAQs: Frequently Asked Questions


Q: Who can participate in theIdaho Entrepreneur Challenge?

• The Idaho Entrepreneur Challenge (IEC) is open to any student, undergraduate or graduate, enrolled in a Idaho university or college.

• Competitors may submit only one (1) venture per competition year.


Q: What type of business does my venture have to be?

• Your venture should fit into one of the four competitive tracks. If you do not think you fit into one of the tracks, contact us and we will help you find the track that best fits your idea.

• The competitive tracks are:– Agriculture/Agriculture Technology– Health/Healthy Living– Technology/Consumer/Service– Social/Cultural/Environmental Impact


Q: Does my venture have to making sales or can it be just an idea?

• Your venture can be an idea, project being developed for launch, an early stage start up without sales, or a venture with a few sales or customers or an established record of sales. Really, any stage of development is eligible to participate in the competition, from an idea to up and running.

• The key is your ability to explain your plan, your team and your impact.


SUBMITTING YOUR APPLICATIONFAQs: Frequently Asked Questions


HTTP://IEC2016.STARTUPCOMPETE.CO


COMPETITION EVENTSFAQs: Frequently Asked Questions


Q: What is timeline forthe IEC competition?

• February 12, 11:59PM: Applications due for the Preliminary Round

• Late February: Finalists announced and invited to Boise for the finals

• March 31: Competitors Check-in – Zions Bank Building 17th Floor, 8th & Main, Boise ID

• April 1: Finals Competition Events– Presentations: Panels A, B and C– Demonstration Expo– Speaker and Awards Banquet


Q: What happens at the Check-Inon March 31?

• All teams meet for the Welcome Reception, hosted by Zions Bank, and an orientation briefing for the event.

• We cover the specific activities, times, locations, expectations and other details.

• Food and refreshments are provided.• We meet at the Zions Bank Building, 8th &

Main, Boise ID, 17th floor.


Q: What happens at the Finals Competition event on April 1?

• You have up to four (4) minutes to pitch your venture presentation.

• Each team will pitch their venture presentation to three (3) different panels of judges. Each panel of judges will evaluate and score your presentation pitch. Teams are ranked based on their cumulative scores of all three pitches.

• Teams have table top displays at the demo show during the Awards Reception.

• Winners are announced and prizes awarded at the Reception.


Q: What are the awards for the 2016 IEC?

• $100,000 in seed money awards will be given to teams at this year’s IEC.

• Awards will be given for the top teams in each of the four competitive tracks. Awards will be given for best table top displays & best pitches

• The awards are seed money start up funds to be used in successfully launching and growing your venture.


Prize Money*

CATEGORY• 1st place $12,500• 2nd place $7,500• 3rd place $3,000

• “People’s Choice” short pitch $2,000 (2)• “People’s Choice” table top $2,000 (2)


GENERAL QUESTIONSFAQs: Frequently Asked Questions


Other Questions?

• Bridget Duffy at [email protected] or [email protected]

• Instagram @idaho_ec

• www.entreprenurship.boisestate.edu


mailto:[email protected]

mailto:[email protected]

Idaho Entrepreneurship Challenge 2016 Rules and FAQs

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