Idaho Entrepreneurship Challenge 2016 Rules and FAQs

Idaho Entrepreneur Challenge 2016

Idaho Entrepreneur Challenge
2016
Participation Guidelines
and FAQs
Boise, ID
March 31 and April 1, 2016

GENERAL INFORMATION
Participation 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 & PARTICIPATION
FAQs: Frequently Asked Questions

Q: Who can participate in the
Idaho 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 APPLICATION

HTTP://IEC2016.STARTUPCOMPETE.CO

COMPETITION EVENTS

Q: What is timeline for
the 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-In
on 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 QUESTIONS

Other Questions?
• Bridget Duffy at bridgetduffy@boisestate.edu
or cid@boisestate.edu
• Instagram @idaho_ec
• www.entreprenurship.boisestate.edu

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