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Round 1 Open Call: Business Idea

View rubric
Weight
50%
Description
In this round, participants will submit introductory details on their idea. They will select a track (BIG IDEA or SMALL BUSINESS), create a business name, and provide additional details on how they came up with the idea and its fit within the competition.
Guidelines & information
Round 1 involves submission of a PDF document that responds to the following questions, dependent on the selected track. Responses should be in narrative format. Judges will review the document for completion of all required components as well as professionalism (proper spelling, grammar, punctuation, etc.). 
For more information on judging criteria, view the judging rubric. 

BIG IDEA Track:
Submit a PDF document that includes the following information: 
  • Business/Invention Name (Be creative!)
  • The Problem
    • What is the problem you are solving? Who faces this problem?
  • The Proof
    • How do you know this is a problem? Provide evidence that you've done your research (i.e., you face it personally, online research, observations, etc.)
  • The Solution
    • Describe how your idea solves this problem? What unique features/functions do you envision it having?
  • Personal Statement
    • This is your opportunity to really sell it. Tell us why it affects you, why you want to solve it, how you came up with your idea, etc. 

SMALL BUSINESS Track:
Submit a PDF document that includes the following information: 
  • Business Name (Be creative!)
  • The Opportunity 
    • Brief description of opportunity. Identify if this is a hobby/skill you want to build into a business or if this is an opportunity that fills a gap in your community.
  • The Customer
    • Who is your ideal customer? Remember, you're not targeting everyone. 
  • The Unique Selling Point
    • What makes this business viable? How is what you're offering unique or different OR how will it be a great addition to your community? 
  • Personal Statement
    • This is your opportunity to really sell it. Tell us why it affects you, why you want to solve it, how you came up with your idea, etc. 
Submission deadline
Dec 15, 2023 11:59 PM EST
Judging deadline
Dec 18, 2023 11:59 PM EST