2018 guidelines and overview - university of portland 100k cvc guidelines.pdf · 2018 guidelines...
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https://www1.up.edu/franzcenter/entrepreneurship/venture-
competition.html
https://www.up.edu/franzcenter/entrepreneurship/2018-100k-
venture-competition.html
2018 Guidelines and Overview
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Table of Contents
I. GENERAL COMPETITION INFORMATION ................................................... 2
INTRODUCTION ......................................................................................................... 2
BUSINESS PLAN COMPETITION ..................................................................................... 2
INVENTION COMPETITION ........................................................................................... 3
PRIZES, REIMBURSEMENT AND FUNDING OPPORTUNITIES ............................................... 3
DISCLAIMER .............................................................................................................. 5
IMPORTANT DATES ..................................................................................................... 6
CONFIDENTIALITY AND INTELLECTUAL PROPERTY ............................................................ 6
CONFLICT OF INTEREST STATEMENT .............................................................................. 7
II. RULES AND GUIDELINES .............................................................................. 7
TEAM RULES.............................................................................................................. 7
COMPETITION FORMAT ............................................................................................... 8
VIDEO APPLICATION ................................................................................................... 9
BUSINESS PLANS ...................................................................................................... 10
PRESENTATIONS ...................................................................................................... 11
THE USE OF MENTORS & FACULTY .............................................................................. 11
RULES COMMITTEE & RULES VIOLATIONS .................................................................... 11
SPECIAL SITUATIONS ................................................................................................. 12
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I. General Competition Information
Introduction
The $100K Challenge Venture Competition is a premier business, social enterprise
and invention competition hosted by the Franz Center for Leadership,
Entrepreneurship, and Innovation at the University of Portland. Underwritten by
generous donors to the University, the competition promotes experiential education
about entrepreneurship and new business development by focusing on student
created, launched, and managed ventures. Students are provided with expert
feedback on their plans and presentations, as well as the opportunity to apply for
funding to help launch their ventures if they wish to pursue them.
Business Plan Competition
The Business Plan Competition is a multiple round competition where student
teams will present their plans for new ventures (for profit and social enterprise)
to a panel of judges.
For Profit Competitors (includes BioMedical Engineering Ventures):
The top three places in the for-profit track will be announced at the end of the
event, and receive cash awards. The first place team will receive $1,250, second
place team $750, and third place team $250. These amounts are to be divided
among teammates, as determined by the team. It is not necessary to launch the
venture to receive these awards. These awards will be paid within 3 weeks of the
competition completion.
All participants in the for-profit track will be eligible to apply for an investment of
up to $20,000 (half cash and half support services) from the Launch Pad Fund,
established by UP donors to support the launch or expansion of student ventures.
These Launch Pad Fund Investments are made upon the decision of the
investment committee. The investment committee is comprised of three
members of the Franz Center Advisory Board. No employees of the University of
Portland are allowed to serve on the investment committee. Interested teams
will have until August 31, 2018 to submit their application. Once an application is
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completed, the investment committee will review materials and meet with the
applicant before October 31, 2018. The investment committee will inform the
applicant of the investment decision before December 1, 2018. If an investment
is made, the VP for Finance for the University of Portland will provide final
paperwork before December 31, 2018 and the applicant will have until January 15
to sign and return the paperwork. If selected for investment, teams have up to
six months to complete the investment process, and made into a legally
organized business entity.
Social Enterprise (Non Profit) Competitors:
The first place in the social venture track will be announced at the end of the event
and receive a cash award of $1,250. It is not necessary to launch the venture to
receive this award. The awards will be paid within 3 weeks of the competition
completion.
The 1st place winner in the Social Venture track will also be eligible for a $2,500
grant and $2,500 in professional services award to assist in the launch or
development of the social venture made by the investment committee. Winning
teams will have until December 1, 2018 to apply for this award, which must be
made to an eligible 501c.3 organization (or have 501c.3 status pending with the
state and/or IRS).
Invention Competition
The Invention Competition provides students with an opportunity to showcase
inventions that have developed for which they may have a design and early stage
mockup, pretotype or prototype. It is not necessary to have a business plan to
compete in this category. Participants in this category can receive $250 of funding
from which to develop their invention prior to the competition. The top 2 teams (or
individuals) in this category will go on to represent UP in the Invent OR state-wide
competition to take place in October 2018. These teams will have up to $1,500 to
develop their prototypes during Summer 2018.
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Applicants can compete in both for profit/social enterprise competitions and the
invention competitions, as long as the invention has not yet been presented in the
competition.
Prizes and Reimbursement Opportunities
The 100k Challenge Venture Competition believes in supporting the work of all
applicants and providing opportunities for reimbursement, as well as awarding
success.
Cash Prizes
All cash prizes will be awarded to the top teams in each track as outlined in the
business plan competition section above. Disbursement of the prize will be made
to participants from the team, based upon the direction of the team leader. Cash
prize awards may be subject to taxation and are the sole responsibility of the
entity or person to whom the awards are distributed. Each entity or individual will
be required to provide a W-9 before receiving any prizes. All prize payments will
be reported on a Form 1099-MISC. Foreign applicants need to contact the
competition coordinator at the e-mail address below to get exact requirements.
All teams are eligible for only one cash prize during the Business Plan
Competition.
People’s Choice Award
All spectators are eligible to vote for their favorite competition submission. The
team with the most will receive the People’s Choice Award and prize.
All voters must be in attendance for the duration of the competition to vote.
Competitors are not eligible to vote. Votes will be submitted via VoteVox and
instructions to do so will be presented day-of.
Expense Reimbursement (Up to $500)
The $100k Competition offers the opportunity for teams to obtain
reimbursement up to $500 of eligible expenses that were incurred in the course
of developing and running experiments for all new ventures (the For Profit Fund
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Form or the Social Enterprise Expense Form). This reimbursement is available
only to applicants who have registered for the Competition prior to the deadline.
AARP Foundation Prize
There is also a special $3,000 cash prize for those ventures (for profit or social
venture) that address the needs of low income senior citizens. This special
category of the competition is open to teams from any university or college in the
state of Oregon. See AARP Foundation Prize below for details.
What is the AARP Foundation Prize?
In furtherance of its mission, the AARP Foundation may award $3,000 to a
team whose for-profit or social venture business plan best addresses one or
more of the following needs of low-income seniors (50 or older earning less
than $40,000 per year): (1) the need to access adequate and nutritious food,
(2) the need to live safely, independently and comfortably in functional and
affordable homes, (3) the need to increase and/or maintain income, (4) the
need to enjoy the positive health outcomes of strong and sustaining social
bonds.
The AARP Foundation wants to encourage the submission of business plans
that can have significant and sustainable impact on these issues. Review of
plans that elect to be considered for this award will be done by a
representative of the AARP Foundation or its designate. The award will be
made within 60 days of the competition. The AARP Foundation reserves the
right to not award the prize if no business plans of a high quality are
presented. If your team chooses not to pursue your business idea, your
team may still be eligible for the $3,000 prize. The AARP Foundation
would then have ownership of your business plan. This award amount is
to be divided among teammates, as determined by the team leader.
Participants in the AARP Foundation Prize at The University, whose proposals,
in the opinion of The Foundation, could help a low-income 50+ to age-in-place,
are also eligible for consideration for the national 2017 AARP Foundation
Aging-In-Place $50K Challenge award (“the Challenge”). Should such a
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participant win the Challenge, it will receive a cash prize of $50,000 to
implement the proposed solution, and $10,000 will be contributed to The
University by The AARP Foundation. More information is available here.
Funding Opportunity
Launch Pad Investment
All participants in the for-profit track will be eligible to apply for an investment of
up to $20,000 (half cash and half support services) from the UP Launch Pad Fund,
established by UP donors to support the launch or expansion of student ventures,
as outlined in the business plan competition section above. All students intending
on applying for the UP Launch Pad Fund investment will need to attend the
StarveUp’s Launch Pad on May 18th-20th, 2018, held at the IMMIX Law Group
offices as a prerequisite. StarveUP is a local entrepreneurial support organization
that has collaborated with us for this event. After successfully completing the
StarveUp’s Launch Pad event, students can apply for the University of Portland’s
Launch Pad Investment opportunity.
Launch Pad Fund Investments and in-kind services for the $100K Challenge
Venture Competition will be disbursed and paid only to a properly organized legal
entity that will be launching the venture described in the plan. No Launch Pad
Fund Investments will be made directly to any student or team members.
Other Important Considerations The spirit of this competition is that current undergraduate or graduate students
both originate and lead the startup idea. The $100K Challenge Venture Competition
is an educational experience, and teams not working towards this end may be
disqualified (e.g. an existing company that recruits students only to become eligible
for the competition). The $100K CVC Rules Committee reserves the right to review
companies on a case-by-case basis and make eligibility decisions. Teams that are
unsure of their eligibility should contact the $100K CVC Coordinator at the e-mail
address below.
Competitors who promote illegal, illicit, unethical, immoral, or other types of
activities which may be considered unworthy of association with the $100K Challenge
Venture Competition or University of Portland will be disqualified.
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Questions about any aspect of the competition should be addressed to
Important Dates
Task Due Date
Create-A-Marathon January 26th-27th
Financial Projections Workshop March TBD
Last Day to Register for $100K CVC
Must submit 60-second video pitch application
March 2nd by midnight
University of Portland Panel Event March TBD
Founders Happy Hour Event April 6th
Founders Day Elevator Pitch Competition
(Optional)
April 10th, 3:15 – 4:00 PM
Upload Full Business Plan/Invention Overview April 20th by 5:00 PM
Practice Presentation Session 1 April 23rd, 8:30 – 10 PM
Practice Presentation Session 2 April 26th, 7 – 8:30 PM
Upload Business Plan Presentation PowerPoint
or PDF
April 26th by midnight
$100K Challenge Venture Competition April 28th 9:00 AM – 4:00 PM
StarveUp Launch Pad Competition May 18th-20th
Application for UP’s Launch Pad Investment August 31st by midnight
Please note: All submission deadlines are final. Late applications cannot be
accepted and deadline extensions cannot be granted for any reason. The $100K
CVC staff encourages each team to submit their Full Business Plan and Business
Plan Presentation early so that any technical difficulties can be resolved before
the deadline hits. Failure to submit by the deadlines noted will disqualify a
team from the competition.
Confidentiality and Intellectual Property
All submitted information is deemed the property of the participating teams and
any licensors that it has. All of our judges and staff are working professionals and
investors who routinely evaluate business plans and protect the property of
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others in the process. However, they do not sign any non-disclosure agreements
to participate in this competition. Teams are strongly encouraged NOT to
provide any specifics or details that are considered intellectual property or
the key to intellectual property. Any data or information discussed or divulged
in the competition should be considered information that may enter the public
realm, and students should not assume any right of confidentiality in any data or
information discussed, divulged or presented in the competition. There will be no
recourse in judging when a question or issue is not fully addressed because of
concerns over confidentiality. In addition, the system we utilize in managing plan
submissions has their own confidentiality policies and teams should also review
those when agreeing to the use of the system.
Conflict of Interest Statement
Judges, Launch Pad Investment Committee members, volunteers, or UP faculty
members may not have any vested interest, equity stake, or financial stake in any
of the finalist companies. Any involvement by the previously listed parties that
stand to gain financially or otherwise from the success of any finalist company is
strictly prohibited. Any such associations will result in disqualification of the team
and/or removal of that individual from his or her associated position with the
competition.
II. Rules & Guidelines
Team Rules
All teams must meet the following criteria to qualify for the business plan
competition:
Teams must be composed of 1-6 student member(s). Teams may not have
non-student members. Non-students may be involved with the company
outside the competition, but may not be a part of the competition team (i.e.
may not present or answer questions for the team) and will not be eligible to
receive any prize money.
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At least half of the team must be current, full or part-time University of
Portland undergraduate or graduate student(s).
All student team members must be currently enrolled, full or part time
students at an AACSB accredited university or have graduated from an AACSB
accredited university within the previous 6 months of the executive summary
submission deadline for the competition. Teams may be comprised of
undergraduate, graduate, or post-graduate students.
Submissions should be for ventures that are early stage, either for profit or
social venture. This does not typically include buy outs, entity expansions, real
estate ventures, funds or franchise purchases (please seek further clarification
if unsure about your proposed business structure) Companies presented may
not have raised outside previous investment capital except from founders,
friends, and family.
Limit on capital raised ($10,000) and revenue ($200,000)
Students must have fundamental, equity-holding, founding positions within
the company. Students must have a combined ownership of at least 25% of
the founder’s equity in the company. Students should hold senior positions
within the company.
One person on the team must be designated as the team lead at the time of
the submission and will be the main point of contact with $100K Challenge
Venture Competition.
No person can be a member of more than one team.
All teams and students may participate in future competitions at UP, including
finalist teams, but no team may use the same plan submitted in a previous
$100K Challenge Venture Competition. Ventures that have been significantly
advanced from the previous submissions will be considered on a case-by-case
basis. Please consult the Franz Center if you have any questions.
Teams may use the same business plan used in another competition in the
U.S. or abroad within the same academic year as the $100K CVC.
Finalist teams must be complete and present during the entire competition
and at the time of the prize presentations to be eligible for prizes. Exceptions
may be made on a case-by-case basis for teams with members who have bona
fide conflicts on the date of the competition.
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Competition Format
All applicants must apply with a (60 second or less) video pitch submitted by March
2nd, 2018 by midnight.
All registered teams must upload a Full Business Plan by April 20th, 2018 by 5 PM.
All business plans must be submitted in PDF format using the competition
website/email provided.
All registered teams must upload a Business Plan Presentation by April 26th, 2018 by
5 PM.
All business plans must be submitted in in PowerPoint, PC-compatible format using
the competition website submission site.
The for-profit Venture Competition will take place in two rounds: (1) the preliminary
round, and (2) the finalist round.
The not-for-profit competition will take place in one round.
Competitors advancing to the final round will have an opportunity to modify their
PowerPoint presentations (after receiving feedback from judges, prior to presenting
in finals).
The Invention Competition will take place in one round.
Video Application Requirements
All competitors must submit a 60-second video pitch to serve as their application to
the competition. Use this opportunity to show/tell judges about the business/social
enterprise idea. Video applications can be emailed to [email protected].
Business Plans
Business plans must follow the following format:
o Business Plans must be no longer than 10 pages
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o Up to 5 pages of appendices (financials, bios, market data, etc.) may be
included after the 10 business plan pages (for a total of 15 pages maximum)
o 12 point font
o 1” margins on all four sides
o Must include page numbers (optional on title page)
o Must delineate clearly between end of business plan pages and beginning
of appendix pages (if applicable)
o Must be submitted in PDF format as directed in Competition emails
Plans that exceed these limits will be eliminated from the competition.
All deadlines are final. Out of respect to other teams and judges, no
submissions will be accepted after the deadline.
Applicants are also expected to follow the business writing, basic formatting,
and citation and reference page guidelines provided in the Pamplin School of
Business Expectations for Student Writing, available here.
Business Plan Format
All business plans must be submitted in PDF format using the submission email/site.
Please include the relevant recommended data points listed below. Additional
information can be included, as long as it is within the total length guidelines. The
title/cover page and table of contents do not count as part of the 10 business plan
pages.
Title/Cover Page (Does not count toward 10 business plan pages)
Table of Contents (Does not count toward 10 business plan pages)
Executive Summary
Market Overview
Business Model
Customers or Prospective Customers
Sales & Marketing Strategy
Competitive Environment
Management Team
Financials
Capital Needed to Launch & Potential for Exit or Profitable Operation
Contact Info for the Team Leader
Appendices (Up to 5 pages of appendices)
*must have at least a detailed 3-year projected income statement
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Invention Overview Format
Title/Cover Page
Table of Contents
Executive Summary
Invention Description
Functionality Review
Intellectual Property Issues
Competitive Review
Patent or Copyright search
Target Selling Prices
Prototype and At-Scale production costs
Design files
Prototype photos
Contact Info for the Team Leader
Appendices (Up to 5 pages of appendices)
Business Plan Feedback Procedure
Each judge will provide a numeric score and comments for each of the sections
above for each business plan submission that they review. This feedback is to
provide an educational opportunity for the team and may or may not be utilized
in the competition ranking process, although it may influence the judge’s ranking
decisions. This feedback is provided using an online system.
Business Plan Judging Procedure
Each judge will rank each business plan they review in comparison to all of the
plans they review as to the one that they would be most likely to invest in. The
judges will then compare their top choices, and work together to identify the top
two ventures, who will become finalists to participate in the afternoon round. The
afternoon final judges will use a similar process to choose 1st, 2nd, and 3rd place.
Invention Judging Procedure
Invention judging guidelines will be provided to Invention participants in advance
of the competition.
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Presentations
All presentations must be the original work of the presenting team members.
Presentations should be done in PowerPoint PC-compatible format.
Teams should upload their presentation in advance through the system (refer
to submission instructions for details). In the event of any technical difficulties,
please be sure to bring a back-up copy on a thumb drive, and have another
back-up accessible on the web. Teams will be disqualified if they do not have
back-ups, and technical problem interference with their presentation.
A) Preliminary Round: All for-profit teams will present on the morning of April
28, 2018 in the preliminary presentation round. Presentations will be up to 10
minutes followed by up to 5 minutes of Q&A from the panel of judges.
B) Break: After the first round of presentations, all participants will break for
lunch. The 2 finalist teams from each group will be announced during this
time. Teams will be able to utilize any time remaining in the break period to
make changes or modifications to their presentations based on judges’
questions and feedback from the first round.
C) Final Round: The finalist teams will return to present in front of a live
audience, which includes the final round judges, all of the finalist teams, and
the public. Final round presentations will run up to 10 minutes, with 5 minutes
of judge Q&A.
The Use of Mentors & Faculty
All competitors are welcome and encouraged to work with a mentor. If a
mentor is not already in place the Franz Center for Leadership,
Entrepreneurship, and Innovation at the University of Portland will gladly
arrange a mentorship. If interested in being paired with a mentor, please email
Mentors cannot be part of the team.
Mentors should not directly participate in the writing, direct editing, or specific
development of any part of the submission.
Mentors should provide advice and insights into the development of the plan,
presentation coaching, and other general education interactions.
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Mentors are not required, but are encouraged for the best learning
opportunity.
Rules Committee & Rules Violations
Questions about the rules should be addressed to [email protected] for
clarification.
Rules violation concerns, if any, must be submitted in writing to Peter Rachor
([email protected]) detailing the purported violation, team(s) involved, and
team(s) reporting the purported violation, within 10 days of the competition.
The University of Portland Franz Center has final authority in deciding if a
violation occurred.
Special Situations & Accommodations
If you or any member of your team needs to request approval for, or accommodation
of, a special situation, the team point of contact person should contact Peter Rachor,
Director for Entrepreneurship & Innovation, explaining the situation or request no
later than April 14, 2018.