Ideas Unleashed Competition

November 13th 2014

Calendar:

Overview

Who should participate?

Objectives

General Competition Guidelines

Pitch Guidelines

Scoring

PITCH TEMPLATE

Application

Calendar:

-Monday November 17thApplications due (see below)

-Thursday, November 20th

3:30pm- 4:00pm …… Registration
4:00pm- 4:10pm …… Judges, faculty and staff presentation
4:10pm- 4:30pm …… Competition Sessions
4:30pm- 4:40pm …… Second Round
4:40pm- 5:00pm …… Final Round

Overview

The Global Entrepreneurship Week provides UTEP students an inside look of the entrepreneur world and gives them a great opportunity to pitch their business idea to a panel of judges and a chance to win prizes. An elevator pitch is a quick description of your product or idea; it is as quick as riding up an elevator! A well-planned elevator pitch can open opportunities to students from investors who are interested in the idea/product. Time to gather ideas and ride the elevator!

Who should participate?

Students with an idea or product
Students who look for investors or feedback for their ideas
Students who want to explore the idea of a start-up company
Students who want to demonstrate their persuasive skills
UTEP students who want to succeed

Objectives

Promote the Global Entrepreneurship Week and demonstrate to students how important it is to expose their ideas to the business world.
Make students aware that the world needs more of their ideas and creativity to reach out for people’s needs.
Give students the opportunity to show their skills and also polish them with the help of judges’ feedback.

General Competition Guidelines

The competition is FREE and open to UTEP studentsonly. Parents and siblings are welcome to attend competition (no children).
UTEP students should fill-out the application that is included in this packet, one per team. Application should be scanned with the signatures. Elevator Pitch can be done in groups from 1-3 members. Submissions should be done by MondayNovember 17th midnight to
Idea/Product should be authentic and not out in the market already. Students should do research about their product to make sure it is not in existence.

Pitch Guidelines

The purpose of a pitch is to QUICKLY convince potential investors that your idea or product is sellable and unique (within 60 seconds). You need to persuade your audience that you are offering the best product that will be in the market ever.
You can bring a prototype of your product/idea if it helps.
The use of visuals (Power Points) is not permitted.
During the Competition Sessions (all teams or individuals), each presenter will be given a 60 second break at the conclusion of the previous presenter’s followed by 60 seconds to make a pitch and 120 second of Q&A.
During the Second Round, each presenter will be given 60-second break at the conclusion of the previous presenter’s presentation followed by 90 second to make the second pitch.
During the Final Round (finalists), each presenter will be given a 120 second break at the conclusion of the previous presenter’s presentation followed by 90 seconds to make a pitch. Final Q&A for 180 minutes.
Time will begin when the presenter begins to speak or at the conclusion of the 60-second or 120-second break; whichever comes first.

Scoring

Judges will be given letter-sized cartel, which will serve to grade the competitors from 0-5 after the student finishes the elevator pitch or after Q&A. The total score will be counted for the next round.
Students with a grade of 10 points or higher will pass to the Second Round.
Students with a grade of 15 points or higher will pass to the Final Round.
During the Final Round the student or team that gets the higher grade will be the winner of the competition. Winner will get a Kindle Fire HD.

PITCH TEMPLATE

The Story…______

Give the audience a story that connects them to the “pain” you ease. This may be a personal perspective or how/why you got involved.

I’m ______, ______of ______

Name Title Company Name

We sell ______to ______

Product Customer Profile

Unlike competing products our product/service ______and
What is better/different?
______

What is the magic?

There are ______potential customers for our product/service.

Estimate #

Market opportunity statement: ______

Size of market or opportunity

We charge ______for ______

Price (estimate) Product bragging statement

We reach our customers by ______and ______.

Type of sales channel (1 or 2)

We project sales of ______in ______years

Dollar amount number How many?

We need ______to complete: ______& ______

Dollar amount Accomplishment Accomplishment

We are looking for:

(check one)

______A loan

______Investment by friend or business partner

______Angel Investment

______Venture Capital

______Grants

Cool statement about why get involved…______

Tell why your company is a good investment & what they get for the investment!

Application

One application per team (1-3 members)

Applicant / Applicants:

Full Name: ______

E-mail : ______

Phone- Number: ___(915)______-______

UTEP ID: ______

College/ Major: ______

Expected Graduation Date: ______

Signature: ______

Applicant / Applicants:

Full Name: ______

E-mail : ______

Phone- Number: ___(915)______-______

UTEP ID: ______

College/ Major: ______

Expected Graduation Date: ______

Signature: ______

Applicant / Applicants:

Full Name: ______

E-mail : ______

Phone- Number: ___(915)______-______

UTEP ID: ______

College/ Major: ______

Expected Graduation Date: ______

Signature: ______

*** Answer the following questions along with the application**

Please provide a brief description of your business or idea

Key Customer Segments. Who are the people or companies who will pay for the product or service? *

Define the customers’ pain, problem or unmet need *

Key Competitors/How your customers solve this problem today *

Unique Value Proposition (How will your solution be better than the competition?) *

Solution (How will you solve the problem for the customer?) *

Is there any intellectual property (trade secrets, copyrights, patents) potentially associated with your idea? *

What are the potential number of customers that could be interested in purchasing your product or service, and/or information you found on market size and growth for this field?

How will you sell your product or service? (distribution, sales channels, etc) *

Revenue Streams (How will you make money?) *

Please estimate your business startup costs *

How will you reach your financial goals for startup? (family, friends, loan, investors, etc.) *