Competition Stages
Stage 1: Ideate (September - November)
Teams can submit an application of their idea or business concept.
The team’s application must clearly identify the problem, frame the problem, and identify the opportunity. The team's concept must meet UD's Code of Conduct business requirements.
Applications open: September 5, 2023 at 8:00am
Submission deadline: October 22, 2023 at 11:59pm
Deliverables
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Application
The teams meeting the requirements will be invited to pitch their ideas in the
1st round of the competition is on Saturday, November 4th at The Hub.
Up to eight teams will then be selected to advance to stage two.
Stage 2: Inspire (November - January)
Teams will be expected to gain new insights by conducting market research or engaging with the community for feedback on conceptual design. Based on the team's ability to gain new insights and/or engage the community for input, a panel of judges will advance five teams for each track.
After Round 1, each team must include a student, faculty, staff, or alumni of UD.
Deliverables
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Lean Canvas Model
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Pitch Slide Deck
Stage 3: Iterate (January - March) and Implement (April)
Up to five teams will be paired with industry-specific mentors and will be charged to redesign and further define concepts using new insights from the previous round and market research to prepare a business plan. Teams will deliver a live 30-minute pitch presentation to a panel of judges that includes Q&A time. The teams must demonstrate growth, including the amount of funds being requested to implement the concept, how the knowledge gained from the competition process will influence how the funds will be used to implement the concept successfully, and returns on investment.
Deliverables
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1:1 Conversation with Mentors
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Full Business Plan
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Must include:
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A minimum of three years of financial projections (P&L or Income Statement)
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Pitch Slide Deck