Competition Stages
Stage 1: Ideate (October)
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 6, 2022 at 11:59pm
Submission deadline: October 16, 2022 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 on Saturday, October 22nd at The Hub. Eight teams will then be selected to advance to stage 2.
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.
Deliverables
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Lean Canvas Model
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Pitch Slide Deck
Stage 3: Iterate (January - March) and Implement (April)
The 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, include 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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Plan Requirements
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Overview of business
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Startup costs for the venture and length of launch
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What resources the venture needs from an investor
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What returns an investor can expect
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Tagline of venture
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Pitch Slide Deck