university of newcastle business plan competition

2022 Newcastle Business School Year 11 Business Plan Challenge

Ended Dec 31, 2022

Sorry! The enrolment period is currently closed. Please check back soon.

Full course description

The competition is open to Year 11 students currently enrolled in Business Studies. Entries will be accepted from both individuals and teams (consisting of a maximum of four students).

The Business Plan must be double-spaced, A4 . 

The University of Newcastle will conduct judging of entries. The judges' decisions are final and no correspondence will be entered into. Finalists selected must be prepared to give an oral presentation of their business plan report. The winning entry will be selected based on presentations from the four finalists.

The winning entry will be eligible for a total prize pool valued up to $10,500. One prize of $2,000 will be presented to the winning team. $500 will be presented to the winning team's school, to be spent at the school's discretion on educational resources. A scholarship of $2,000 will also be awarded to each member of the winning team (up to a maximum of $8,000) if they enrol full-time in a Bachelor of Business Analytics, Bachelor of Business, Bachelor of Commerce, Bachelor of Business/ Bachelor of Commerce, Bachelor of Business, Bachelor of Commerce, Bachelor of Laws combined with Bachelor of Innovation and Entreprenurship or Bachelor of Laws (Honours) at the University of Newcastle. The student must be independently accepted into one of these programs through the standard UAC application process. The scholarship will be paid in one payment in the first semester of study. Each of the three runner-up teams will receive $1,000, plus $500 for each of the runner­-up teams' schools.

For further information, please contact:

• Bec Bell [email protected]

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Please note you do not have access to teaching notes, an exploration of the business plan competition as a methodology for effective nascent entrepreneurial learning.

International Journal of Entrepreneurial Behavior & Research

ISSN : 1355-2554

Article publication date: 30 October 2017

Issue publication date: 8 January 2018

Business Plan Competitions (BPCs) are readily prescribed and promoted as a valuable entrepreneurial learning activity on university campuses worldwide. There is an acceptance of their value despite the clear lack of empirical attention on the learning experience of nascent entrepreneurs during and post-participation in university-based BPCs. To address this deficit, the purpose of this paper is to explore how participation in a university-based BPC affords entrepreneurial learning outcomes, through the development of competencies, amongst nascent entrepreneurs.

Design/methodology/approach

Underpinned by a constructivist paradigm, a longitudinal qualitative methodological approach was adopted. In-depth interviews with nascent entrepreneur participants of a UK university-based BPC were undertaken at the start and end of the competition but also six months after participation. This method enabled access to the participant’s experiences of the competition and appreciation of the meanings they attached to this experience as a source of entrepreneurial learning. Data were analysed according to the wave of data collection and a thematic analytical approach was taken to identify patterns across participant accounts.

At the start of the competition, participation was viewed as a valuable experiential learning opportunity in pursuit of the competencies needed, but not yet held, to progress implementation of the nascent venture. At the end of the competition, participants considered their participation experience had afforded the development of pitching, public speaking, networking and business plan production competencies and also self-confidence. Six months post-competition, participants still recognised that competencies had been developed; however, application of these were deemed as being confined to participation in other competitions rather than the routine day-to-day aspects of venture implementation. Developed competencies and learning remained useful given a prevailing view that further competition participation represented an important activity which would enable value to be leveraged in terms of finance, marketing and networking opportunities for new venture creation.

Research limitations/implications

The findings challenge the common understanding that the BPC represents an effective methodology for highly authentic, relevant and broadly applicable entrepreneurial learning. Moreover the idea that the competencies needed for routine venture implementation and competencies developed through competition are synonymous is challenged. By extension the study suggests competition activities may not be as closely tied to the realities of new venture creation as commonly portrayed or understood and that the learning afforded is situated within a competition context. Competitions could therefore be preventing the opportunities for entrepreneurial learning that they purport they offer. Given the practical importance of competition participation as a resource acquisition activity for nascent entrepreneurs, further critical examination of the competition agenda is necessary as too is additional consideration about the design of such competitions and how such competitions should feature within university policy to support new venture creation.

Originality/value

This study contributes to the limited literature and studies on BPCs by focussing on its effectiveness as a means of providing entrepreneurial learning for participants. The key contribution taking it from an individual nascent entrepreneur participant perspective is that the competencies afforded through competition participation are more limited in scope and application than traditionally promoted and largely orientated towards future BPC participation. Learning is mainly situated for competition sake only and about participants securing further resources and higher levels of visibility. As the nascent entrepreneurs intended learning outcomes from competition participation are subsequently not realised, the study highlights a gap between the intended and actual outcomes of competition participation.

• Competencies
• Entrepreneurial learning
• Nascent entrepreneurship
• Business Plan Competition

Watson, K. , McGowan, P. and Cunningham, J.A. (2018), "An exploration of the Business Plan Competition as a methodology for effective nascent entrepreneurial learning", International Journal of Entrepreneurial Behavior & Research , Vol. 24 No. 1, pp. 121-146. https://doi.org/10.1108/IJEBR-05-2017-0158

Emerald Publishing Limited

Copyright © 2018, Emerald Publishing Limited

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The 20 Best Business Plan Competitions to Get Funding

Business plan competitions can provide valuable feedback on your business idea or startup business plan template , in addition to providing an opportunity for funding for your business. This article will discuss what business planning competitions are, how to find them, and list the 20 most important business planning competitions.

On This Page:

What is a Business Plan Competition?

How do i find business plan competitions, 20 popular business plan competitions, tips for winning business plan competitions, other helpful business plan articles & templates.

A business plan competition is a contest between startup, early-stage, and/or growing businesses. The goal of the business plan competition is for participants to develop and submit an original idea or complete their existing business plan based on specific guidelines provided by the organization running the contest.

Companies are judged according to set criteria including creativity, feasibility, execution, and the quality of your business plan.

A quick Google search will lead you to several websites that list business planning competitions. 

Each site has a different way of organizing the business planning competitions it lists, so you’ll need to spend some time looking through each website to find opportunities that are relevant for your type of business or industry.

Finish Your Business Plan Today!

Below we’ve highlighted 20 of these popular competitions, the requirements and how to find additional information. The following list is not exhaustive; however, these popular competitions are great places to start if you’re looking for a business competition.

Rice Business Plan Competition

The Rice University Business Plan Competition is designed to help collegiate entrepreneurs by offering a real-world platform on which to present their businesses to investors, receive coaching, network with the entrepreneurial ecosystem, fine-tune their entrepreneurship plan, and learn what it takes to launch a successful business.

Who is Eligible?

Initial eligibility requirements include teams and/or entrepreneurs that:

• are student-driven, student-created and/or student-managed
• include at least two current student founders or management team members, and at least one is a current graduate degree-seeking student
• are from a college or university anywhere in the world
• have not raised more than $250,000 in equity capital
• have not generated revenue of more than $100,000 in any 12-month period
• are seeking funding or capital
• have a potentially viable investment opportunity

You can find additional  eligibility information on their website.

Where is the Competition Held?

The Rice Business Plan Competition is hosted in Houston, TX at Rice University, the Jones Graduate School of Business.

What Can You Win?

In 2021, $1.6 Million in investment, cash prizes, and in-kind prizes was awarded to the teams competing.

This two-part milestone grant funding program and pitch competition is designed to assist students with measurable goals in launching their enterprises.

Teams must be made up of at least one student from an institution of higher education in Utah and fulfill all of the following requirements:

• The founding student must be registered for a minimum of nine (9) credit hours during the semester they are participating. The credit hours must be taken as a matriculated, admitted, and degree-seeking student.
• A representative from your team must engage in each stage of Get Seeded (application process, pre-pitch, and final pitch)
• There are no restrictions regarding other team members; however, we suggest building a balanced team with a strong combination of finance, marketing, engineering, and technology skills.
• The funds awarded must be used to advance the idea.

The business plan competition will be hosted in Salt Lake City, UT at the Lassonde Entrepreneur Institute at the University of Utah.

There are two grants opportunities:

• Microgrant up to $500
• Seed Grant for $501 – $1,500

Global Student Entrepreneur Awards

The Global Student Entrepreneur Awards is a worldwide business plan competition for students from all majors. The GSEA aims to empower talented young people from around the world, inspire them to create and shape business ventures, encourage entrepreneurship in higher education, and support the next generation of global leaders.

• You must be enrolled for the current academic year in a university/college as an undergraduate or graduate student at the time of application. Full-time enrollment is not required; part-time enrollment is acceptable.
• You must be the owner, founder, or controlling shareholder of your student business. Each company can be represented by only one owner/co-founder – studentpreneur.
• Your student business must have been in operation for at least six consecutive months prior to the application.
• Your business must have generated US $500 or received US $1000 in investments at the time of application.
• You should not have been one of the final round competitors from any previous year’s competition.
• The age cap for participation is 30 years of age.

You can find additional   eligibility information on their website.

Regional competitions are held in various locations worldwide over several months throughout the school year. The top four teams then compete for cash prizes during finals week at the Goldman Sachs headquarters in New York City.

At the Global Finals, students compete for a total prize package of $50,000 in cash and first place receives $25,000. All travel and lodging expenses are also covered. Second place gets US $10,000, while third place earns US $5,000. Additional prizes are handed out at the Global Finals for Social Impact, Innovation, and Lessons from the Edge.

Finish Your Business Plan in 1 Day!

The collegiate entrepreneurs organization business plan competition.

The Collegiate Entrepreneurs Organization Business Plan Competition (COEBPC) exists to help early-stage entrepreneurs develop their business skills, build entrepreneurial networks, and learn more about how they can transform ideas into reality. It also offers cash prizes to reward entrepreneurship, provide an opportunity for recognition of top student entrepreneurs around the world, and provide unique opportunities for networking.

To compete, you must:

• Be a currently enrolled student at an accredited institution
• Have a viable business concept or be the creator of an existing business that generates revenue.

If you are among the top three finalists of the business plan competition and successfully receive prize money, you will be required to submit a class schedule under your name for the current academic semester. Failure to do so will result in the forfeit of the prize money.

All competitions are held online. The finalist will receive a trip to the International Career Development Conference, where they have an opportunity to win additional prizes from CEO’s sponsors.

• First Place – $7,000
• Second Place – $5,000
• Third Place – $3,000
• People’s Choice Award – Collegiate Entrepreneur of the Year – $600

MIT 100k Business Plan Competition and Expo

The MIT 100K was created in 2010 by the Massachusetts Institute of Technology to foster entrepreneurship and innovation on campus and around the world. Consists of three distinct and increasingly intensive competitions throughout the school year: PITCH, ACCELERATE, and LAUNCH. 

• Submissions may be entered by individuals or teams.
• Each team may enter one idea.
• Each team must have at least one currently registered MIT student; if you are submitting as an individual, you must be a currently registered MIT student.
• Entries must be the original work of entrants.
• Teams must disclose any funding already received at the time of registration.

Hosted in Cambridge, MA at the Massachusetts Institute of Technology beginning in October through May of each academic year.

Top finalists will have a chance to pitch their ideas to a panel of judges at a live event for the chance to win the $5,000 Grand Prize or the $2,000 Audience Choice Award.

20 Finalists are paired with industry-specific business professionals for mentorship and business planning and a $1,000 budget for marketing and/or business development expenses.

The 10 Top Finalists participate in the Showcase and compete for the $10,000 Audience Choice Award while the 3 Top Finalists automatically advance to LAUNCH semi-finals.

The grand prize winner receives a cash prize of $100,000 and the runner-up receives $25,000.

Florida Atlantic University (FAU) Business Plan Competition

The FAU business plan competition is open to all undergraduate and graduate student entrepreneurs. The competition covers topics in the areas of information technology, entrepreneurship, finance, marketing, operations management, etc.

All undergraduate and graduate students are eligible to participate.

The business plan competition will be held at Florida Atlantic University in Boca Raton, Florida.

• First prize: $5,000 cash
• Second prize: $500 cash

Network of International Business Schools (NIBS) Business Plan Competition

The Network of International Business Schools (NIBS) Business Plan Competition is designed to offer an opportunity to develop your business plan with the guidance of industry experts. It provides the opportunity for you to compete against fellow entrepreneurs and explore big ideas.

• Participants must be the legal age to enter into contracts in the country of residence.
• Participants may not be employed by an organization other than their own company or business that they are launching for this competition.
• The plan should be for a new business, not an acquisition of another company.

The Network of International Business Schools (NIBS) Business Plan Competition is held in the USA.

There is a cash prize for first, second, and third place. There is also a potential for a business incubator opportunity, which would provide facilities and assistance to the winners of the competition.

Washington State University Business Plan Competition

The Washington State University Business Plan Competition has been serving students since 1979. The competition is a great opportunity for someone who is looking to get their business off the ground by gaining invaluable knowledge of running a successful business. It offers a wide range of topics and competition styles.

• Any college undergraduate, graduate, or professional degree-seeking student at Washington State University
• The company must be an early-stage venture with less than $250,000 in annual gross sales revenue.

The Washington State University Business Plan Competition is held in the Associated Students Inc. Building on the Washington State University campus which is located in Pullman, Washington.

There are a wide variety of prizes that could be won at the Washington State University Business Plan Competition. This is because the business plan competition has been serving students for over 30 years and as such, they have offered more than one type of competition. The common prize though is $1,000 which is awarded to the winner of each class. There are also awards for those who come in second place, third place, etc.

Milken-Penn GSE Education Business Plan Competition

The Milken-Penn GSE Education Business Plan Competition is one of the most well-known competitions in the country. They have partnered with many prestigious institutions to provide funding, mentorship, and expertise for the competition.

Education ventures with innovative solutions to educational inequity from around the world are encouraged to apply, especially those ventures founded by and serving individuals from marginalized and historically underrepresented communities.

We encourage applicants working in every conceivable educational setting–from early childhood through corporate and adult training. We also welcome both nonprofit and for-profit submissions.

The competition is held at the Wharton School of the University of Pennsylvania.

All finalists receive $1,000 in cash and $5,000 in Amazon Web Services promotional credits.

Next Founders Business Plan Competition

Next Founders is a competition geared towards innovative startups with a social impact, looking to transform society by addressing key global human needs. The competition inspires and identifies energetic, optimistic entrepreneurs who are committed to achieving their vision.

Next Founders is for Canadian business owners of scalable, high-growth ventures.

Next Founders is held at the University of Toronto.

You could win up to $25,000 CAD in cash funding for your new business.

Hatch Pitch Competition

The Hatch Pitch competition is one of the most prestigious business competitions in the US. The winners of the Hatch Pitch Competition are given access to mentorship courses, discounted office space with all amenities included, incubators for startups, tailored education programs, financial counseling & more.

The competition is for companies with a business idea.

• The company’s product/service must have launched within the past 2 years, or be launched within 6 months after the Hatch Pitch event.
• Founders must retain some portion of ownership in the company.
• Received less than $5 million in funding from 3rd party investors.
• The presenter must actively participate in Hatch Pitch coaching.

The Hatch Pitch Competition is located at the Entrepreneur Space in Dallas.

The grand prize for this business plan competition is access to resources like incubators and mentorships that could prove invaluable in bringing your startup company to the next level.

TechCrunch’s Startup Battlefield

The Startup Battlefield is a business plan competition that is sponsored by TechCrunch.  It awards the winner $50,000. There are two different rounds to this competition:

• First Round – 15 companies from all of the applicants that submitted their business plans for this round.
• Second Round – Two finalist companies compete against each other at TechCrunch Disrupt NY’s main stage.

At the time of the application process, companies must have a functional prototype to demo to the selection committee. In selecting final contestants, we will give preference to companies that launch some part of their product or business for the first time to the public and press through our competition. Companies that are in closed beta, private beta, limited release or generally have been flying under the radar are eligible. Hardware companies can have completed crowdfunding but those funds should have been directed to an earlier product prototype. Existing companies launching new feature sets do not qualify.

TechCrunch’s Startup Battlefield is held at different locations.

The Startup Battlefield rewards the winner with $50,000. In addition, the two runner-ups get a prize of $5,000 each.

New Venture Challenge

New Venture Challenge is a competition hosted by the University of Chicago. There are 3 main categories that will be judged:

• Innovative Concept – Arguably the most important category, this focuses on uniqueness, originality, and suitability.
• Market Fit/Business Model – Are you solving an actual problem for your target market? Does your project have the potential for profit?
• Presentation – Did you make a compelling, impactful presentation? Did you clearly communicate your goals and vision to potential investors?

You can find  eligibility information on their website.

The New Venture Challenge competition is held in Chicago, IL.

Finalists are awarded:

• First Place: $50,000 equity investment and access to industry mentors and other resources.
• Second place: $25,000 equity investment and access to industry mentors and other resources.
• Third place: $15,000 equity investment and access to industry mentors and other resources.

New Venture Championship

The New Venture Championship is hosted by the University of Oregon and has been since 1987. The championship brings new ventures and innovative business ideas to life and the competition offers plan writing as a service to those who need it.

The University of Oregon New Venture Championship is open to university student teams with 2-5 members that have at least one graduate student involved with their venture. Students should be enrolled in a degree program or have finished their studies in the current academic year.

The New Venture Championship hosted by the University of Oregon is held in Eugene, Oregon.

Every business plan has a chance of winning a cash prize from $3,000 to $25,000 and additional benefits like plan coaching and office space rental.

Climatech & Energy Prize @ MIT

The Climatech & Energy Prize @ MIT is a competition that focuses on companies that are involved in the area of energy, environment, and climate change.

• Participants must be a team of two or more people.
• At least 50% of formal team members identified in the competition submission documentation must be enrolled as half-time or full-time college or university students.

The Climatech & Energy Prize @ MIT is held in Cambridge, MA.

The grand prize winner receives $100,000 and other winners may receive other monetary prizes.

Baylor Business New Venture Competition

This competition has been offered by Baylor for the last 20 years. It is designed to help aspiring entrepreneurs refine business ideas, and also gain valuable insights from judges and other entrepreneurs.

Must be a current undergraduate student at Baylor University or McLennan Community College.

The Baylor Business New Venture competition will be held at the Baylor University, Waco, TX.

The grand prize winner will receive $6,000. There are also other prizes given out to the other finalists in each category which are worth $1,500 – $2,000.

13th IOT/WT Innovation World Cup

The 13th IOT/WT Innovation World Cup was organized by the 13th IOT/WT Innovation World Cup Association. It was organized to provide a platform for innovators from all over the world to showcase their innovative ideas and projects. The competition aimed at drawing the attention of investors, venture capitalists, and potential business partners to meet with representatives from different companies and organizations in order to foster innovation.

The revolutionary Internet of Things and Wearable Technologies solutions from developers, innovative startups, scale-ups, SMEs, and researchers across the world are invited to participate. Eight different categories are available: Industrial, City, Home, Agriculture, Sports, Lifestyle, and Transport.

Only those submissions that have a functional prototype/proof of concept will advance in the competition, mere ideas will not be considered. 

The competition is held in Cleveland, Ohio also an important center for innovation and cutting-edge technology.

Win prizes worth over $500,000, connect with leading tech companies, speed up your development with advice from tech experts, join international conferences as a speaker or exhibitor, and become part of the worldwide IoT/WT Innovation World Cup® network. 

The U.Pitch is a competition that gives you a chance to share your idea and for the community of budding entrepreneurs, startup founders, CEOs, and venture capitalists to invest in your enterprise. It also provides mentoring by experts in the field.

• Currently enrolled in an undergraduate or graduate program
• Applicants may compete with either an idea OR business currently in operation
• Applicants must be 30 years of age or under

The U.Pitch is held in San Francisco, California.

Enter to win a part of the $10,000 prize pool.

At the core of CodeLaunch is an annual seed accelerator competition between individuals and groups who have software technology startup ideas.

If your startup has raised money, your product is stable, you have customers, and revenue, you are probably not a fit for CodeLaunch.

CodeLaunch is based in St. Louis, Missouri. 

The “winner” may be eligible for more seed capital and business services from some additional vendors.

New York StartUP! Business Plan Competition

The New York StartUP! is a competition sponsored by the New York Public Library to help entrepreneurs from around the world to develop their business ideas.

• You must live in Manhattan, The Bronx, or Staten Island
• Your business must be in Manhattan, The Bronx, or Staten Island
• All companies must have a big idea or business model in the startup phase and have earned less than $10,000

The New York StartUP! competition is held in New York, NY.

Two winners are chosen: 

•  Grand Prize – $15,000  
•  Runner-up – $7,500  

First, determine if the competition is worth your time and money to participate.

• What is the prize money?
• Who will be on the judging panel?
• Will there be any costs associated with entering and/or presenting at the competition (e.g., travel and lodging expenses)?

Once you’ve determined the worth of the competition, then shift to focusing on the details of the competition itself.

• What are the rules of the competition?
• Are there any disqualifying factors?
• How will you be judged during the different parts of the competition?

After conducting this research, it’s best to formulate an idea or product that appeals to the judges and is something they can really get behind. Make sure you thoroughly understand the rules and what is expected from your final product. Once you know what is expected from you, you’ll be able to refine and practice your pitch to help you move through the stages of the competition.

These competitions are a fantastic method to get new business owners thinking about business possibilities, writing business plans, and dominating the competition. These contests may assist you in gaining important feedback on your business concept or plan as well as potential monetary prizes to help your business get off the ground.  

How to Finish Your Business Plan in 1 Day!

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With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Learn more about how the UND Nistler College of Business & Public Administration (CoBPA) impacts North Dakota, the region, the country, and the globe as we accomplish our mission.

• Dean’s Message

2023 Middleton Business Plan Competition

April 26, 2023 – The Middleton Business Plan Competition was held on April 21 -22, 2023 on the University of North Dakota campus at Nistler Hall.

Open to all UND students, ten teams entered the preliminary round to present their business plans to twelve local judges. Entrepreneurship Professor, Dr. Sanjay Goel with partners such as the North Dakota Small Business Development Center (SBDC) organized numerous workshops to prepare participants to compete.

Four finalists advanced to the final round. Judges were Dr. Amy Henley, Dean of the Nistler College of Business & Public Administration, Tom Shorma, recently retired CEO/President of WCCO Belting, and Barry Wilfart, President & CEO, Grand Forks/East Grand Forks Chamber of Commerce.

The winner of the Sandra Braathen Memorial Business Plan Grand Prize of $10,000 was Geotinkers – Moones Alamooti, Shane Namie, and Shane Eiring (College of Engineering and Mines). Second place with a $8,000 prize was Tellegacy – Jeremy Holloway (MBA student). Third place with a $6,000 prize was Arctic Acai – Luke Leshuk, Bradlee Felton, and Charlie Andrys (Entrepreneurship students).

Winners Namie and Alamooti share their enthusiasm for the event, “Moones and I are engineers and want to convey to everyone at the University of North Dakota that programs such as this are confidence builders. I felt from everyone that entrepreneurship is not just about turning ideas into reality, but more about empowering others to do the same. The innovative ideas and feedback from everyone kept pushing the boundaries of what our team could accomplish,” says Namie.

Alamooti added, “Winning the Middleton Business Plan Competition was an incredible experience that challenged us to push the boundaries of our creativity and strategic thinking. We are grateful for the opportunity to have participated and for the invaluable lessons we learned along the way. This competition has not only helped us refine our business plan but has also given us the confidence to pursue our entrepreneurial dreams with conviction.”

All ten teams also competed in a 3-minute pitch competition. First place of $1,000 went to Tellegacy. The two teams tied for second place were GeoTinkers, and Health and Fitness Video Game App – John Poirier and Isaiah Sehrt (Entrepreneurship students).

Many were involved to make this event a success including eighteen judges, and numerous volunteers, faculty, and staff at the Nistler College. The Sandra Braathen Memorial Business Plan Competition Grand Prize was named in honor of Dr. Sandy Braathen, Langemo Faculty Fellow and Professor in the Middleton School of Entrepreneurship & Management. She was loved by all and worked extensively on this competition in recent years. She is greatly missed, and we will continue to remember her spirit.

This high impact experience for students is made possible through the donor support. “This event would not happen without the generous support from Tom and Konnie Middleton and we are so grateful for them,” says Entrepreneurship faculty member, Dr. Sheila Hanson, one of competition coordinators.

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Business Plan Competition 2023

Business Plan Competition

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• Screening Round Submission
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Main Content

The VIBE's Business Plan Competition (BPC) is a great opportunity for entrepreneurial-minded college students to showcase their business plans to investors to promote new business creation in the South Sound.

WIN PRIZES!

1st place...$30,000* 2nd place.....$5,000 3rd place....$2,500 and more!

Trade show is open to the public Thursday, February 16, 2023 10:00 am - 3:00 pm William W. Philip Hall (WPH), University of Washington Tacoma Campus.

Final Round is open to the public. Top five teams advance to compete (Live Presentation) for $30,000 grand prize, Thursday, February 23, 2023, 10:00 am - 2:00 pm Milgard Hall (MLG), University of Washington Tacoma Campus.

Any questions regarding the events please contact Thomas Kuljam, [email protected] or call directly at 253-225-4413.

*$15,000 in cash + $15,000 in-kind services

Before You Submit Your Business Plan

Teams in the Business Plan Competition must comply with the following criteria to be eligible for the competition:

• Teams entering the University of Washington Tacoma VIBE’s Business Plan Competition must have at least one full-time or part-time student on the team who is enrolled in a degree-seeking program at an accredited college or university in Washington state. If you graduated in Spring 2020 or later, you are considered a current student in the competition.
• Teams are highly encouraged to have at least one Veteran or Active Duty member. This will allow teams to receive a bonus advantage.
• The business plan must be developed during the student’s tenure at the university. Students working with outside entrepreneurs must create an original business plan.
• All submissions to the Business Plan Competition must live up to the higher ideals of the University of Washington Tacoma. Your idea must be appropriate for a university-sponsored event. The VIBE reserves the right to disqualify any entry that in its judgment violates the letter or the spirit of the competition or exceeds the bounds of social convention.
• All businesses must create economic opportunity within the South Sound community.
• If the company is revenue positive, the company’s actual annual revenue cannot exceed $500,000. Please note this is different than the company’s projected revenue. This rule does not apply to projected revenue.
• Eligible students can form a team with non-student business community members or alumni, but there are restrictions to this involvement (see below).
• In the Trade Show round, no more than four team members, including both students and non-students, can present the new business concept to the judges. In the Final Round of the competition, only student team members will be allowed to make presentations to the judges.
• Students must have at least a 51% ownership in the business or the potential for equity or employment.
• Only student team members are eligible to earn prize money. No payments will be made to non-students.

Note: The Director of the VIBE and the Business Plan Advisory Board reserves the right to make the final determination of the eligibility of submitted business ventures.

The VIBE Business Plan Competition considers all submitted business plans as confidential and treats all team matters accordingly. However, we cannot guarantee complete confidentiality for proprietary matters.

Therefore, we strongly encourage any team with concerns regarding intellectual property, copyright, or patent confidentiality to either contact their University’s intellectual property office (for University-developed discoveries) or competent legal counsel (for non-University related discoveries).

The University of Washington Tacoma, the Veterans Incubator for Better Entrepreneurship, the Milgard School of Business, and the organizers of the competition are not responsible for any proprietary information and/or intellectual property included in a submitted business plan.

Ultimately, protection of sensitive materials is the sole responsibility of the individual or team participating in the competition.

The Veterans Incubator for Better Entrepreneurship offers numerous ways to prepare for the competition.

Learn by example

Take a look at the 5-7 page executive summaries submitted in the previous years:

• Aurora Plasmonics
• FlashVolunteer
• GSD Devices
• Urban Harvest
• Xylamed (PatientStream)

To view more business summaries contact Thomas Kuljam. In order to prepare your own executive summary, use this Submission Checklist , which includes the judging criteria judges will be using in the Screening Round to evaluate all entries.

Judging Criteria

The Screening Round takes place online and is the first major hurdle for students participating in the Business Plan Competition. Student teams submit their business plan executive summaries online. Over the course of a weekend, each business plan executive summary is read and scored by the judges who are encouraged to provide written feedback for students. After the Screening Round, an announcement of teams advancing to the Investment Round is sent via email. Please also review the submission checklist at the end of this document.

OVERALL IMPRESSION OF THE EXECUTIVE SUMMARY

• Does the summary adequately describe the idea — does the idea make sense?
• Has the team adequately described the pain in the marketplace?
• Do you believe the team has presented a feasible solution?
• Is the summary well written and succinct?
• Does the summary create excitement?

Bonus : Does the team discuss measurable efforts to minimize consumption, use, and byproduct waste, while bolstering profitability/cost containment?

MANAGEMENT TEAM

• Does this management team have the skills required to execute the plan?
• Does this team have the experience to lead a new venture?

MARKET OPPORTUNITY

• Have they adequately described the market and economic opportunity?
• Have they clearly stated their value proposition? Is it a viable model?

COMPETITIVE STRATEGY

• Has the team completely analyzed its competitive space?
• Does the summary clearly identify the company’s initial competitive advantage or differentiator?
• Does the team have an adequate strategy for defending their market position?

GO TO MARKET STRATEGY

• Is it clear how the company will reach its initial customer?
• Does the summary clearly identify a sales strategy?
• Is the distribution plan clearly defined and reasonable?
• Has the team made progress toward any milestones (licenses, patents, etc…)
• Has the company signed customers and/or channel partners?
• Has the company booked any revenue?
• Are the financials consistent with the overall plan?
• Are the assumptions realistic?
• Are contingencies and exit strategies addressed?
• Does the plan describe the funding/resources required to execute on the plan?

The Sweet 16 Trade Show, arguably the most exciting event of the competition, follows a trade show format in which teams set up intricate displays and interact with judges to pitch the team’s idea.

The judges, all prominent members of the local entrepreneurial community, are given one thousand “VIBE dollars” to invest in a portfolio of teams that they consider the “most viable” – that is, with the best chance for success in the real world.

At the end of the event, investment dollars are collected and tallied. The teams receiving the highest “funding” are announced at a reception immediately following and advance to the final round.

We ask the judges to invest their $1,000 “VIBE dollars” in a minimum of 5 companies (student teams) and a well-rounded portfolio of companies. We also tell them: when you’re deciding which teams to invest in, ask yourself:

• Does this business seem well thought out?
• Has the team demonstrated knowledge of the industry and potential customers?
• Is there a real opportunity here?
• Has the team answered your questions?

The Practice Pitch is a noncompetitive round in which no teams are eliminated. This round gives teams the opportunity to practice their presentations in front of a panel of coaches from the local entrepreneurial community.

This round is designed to provide teams with in-depth and constructive feedback that they can use to hone their business plans and pitches prior to the Final Round. Teams will be assigned a mentor for one-on-one coaching.

The Final round will have all remaining teams present throughout the day. The amount of time each team is allotted will be calculated determined by the amount of participants. The Judges will be different judges from the investment round and will select the advancing teams based on the following criteria:

• The Team: What are the team dynamics? What is the quality of the team? Does the team demonstrate the ability to execute on its plan? (Student-driven teams are a plus.)
• The Market: Does the company’s product or service address the target market’s needs? (Opportunity size is a plus, but not the primary concern)
• Viability: Is the business model viable, well-articulated, and reasonable? (The team’s IP position should be clear.)
• Presentation: Did the team make a quality presentation? What was the quality of the team’s materials and data? How was the team’s ability to answer tough questions?

After all presentations are finished, judges will discuss the merits of each of the teams and by process of consensus select the winning team and the runner up to be presented in the afternoon.

Checklist: 2023 Business Plan Competition checklist

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• Pharmacy students earn OPA Business Plan Competition title
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Congratulations to P3 students Olivia King (team captain), Diana Morus, Patrick Moldovan and Madelyn Braman, who together were first-place winners of the 2024 Ohio Pharmacists Association Innovative Pharmacy Business Plan Competition. The students competed against eight other Ohio schools of pharmacy student teams in the development of an innovative business plan to then reach the live finals held in Columbus on April 6.

Under the advisement of S. Scott Wisneski, Pharm.D. associate professor in the College of Pharmacy, the students developed a formal business plan for an innovative pharmacy patient care service titled Cholest-Erased, LLC .

In collaboration with a regional Federally Qualified Health Center, this service would have pharmacists and support personnel traveling to individual homes to provide cholesterol medication management, monitoring laboratory indices and delivery of medications. The goals of the services would focus on achieving positive clinical outcomes, medication adherence and patient education. Components of the plan included need for service, mission, goals, market analysis, workflow, resources, financial analysis, marketing and implementation plan.

Winners of the competition receive a monetary prize and recognition on a plaque at the Ohio Pharmacists Association home office in Columbus.

-- Submitted by Scott Wisneski, [email protected]

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Two Swanson School Students Compete at Prestigious Rice Business Plan Competition

The rice business plan competition awards millions in prizes to the best student startups across the globe.

Engineering students Becca Segel and Benjamin Leslie led two teams and represented the University of Pittsburgh at the 2024 Rice Business Plan Competition April 4-6, 2024. Only 42 teams were accepted to the world’s most prestigious and “richest” competition for student startups, offering millions in prizes. 

What’s more, Pitt also fielded startup Korion Health whose CEO and founder, Anna Li, is an MD/PhD student at Pitt. 

Chris Wilmer, associate professor and William Kepler Whiteford Faculty Fellow of chemical and petroleum engineering, accompanied the students to the competition and said he was incredibly proud to see Pitt stepping into the global arena. 

“This is a historic achievement, which I hope will inspire other Pitt students and prove that the heights of our success know no bounds,” Wilmer said. “The competition was very fierce this year, but our students did a phenomenal job representing Pitt’s entrepreneurial spirit and ambition.” 

The first Pitt competitor was Malleous, co-founded by Benjamin Leslie , a senior bioengineering student, Adi Mittal , a student at the School of Medicine, and Amna Imran, a junior bioengineering student. The team created an instrument that combines retraction and suction functions to help surgeons and declutter operating rooms. In a clinical trial, the device reduced neurosurgeons’ simulated procedure time by 28% and prevented the need to suction on average every 40 seconds.

“ It was a great experience to see some of the other startups being formed around the world,” Leslie said. “It was an excellent way to measure ourselves and our progress compared to others and to speak with other students pursuing similar goals. Talking with some of the competing founders helped us learn from the experiences of others and gain insight into what others were doing to navigate some of the common challenges we all face as startups.”

FlowCellutions 

Swanson School of Engineering PhD student Becca Segel , a graduate student researcher in Pitt’s Department of Chemical and Petroleum Engineering, says her startup, FlowCellutions , aims to reduce carbon emissions by advancing energy storage. The battery diagnostics company consists of experts spanning software engineering, electrochemistry and energy markets.

It was great meeting over 200 investors throughout the weekend, because we were able to get advice from the decision makers who would potentially give us investment in the future,” Segel said. “No other opportunity so far gave us insight into how investors think. The event was really well organized and it had a very exciting atmosphere for three days straight, from the initial practice pitches and elevator competition all the way until the final pitches at the end of the weekend.”

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Icorium Engineering Company earns top-5 finish at 2024 Rice Business Plan Competition

Fri, 04/12/2024.

Cody Howard

LAWRENCE — Icorium Engineering Company , a sustainable engineering startup and spin-out company from the University of Kansas, recently placed fifth overall and won more than $180,000 in investments and nondilutive cash and in-kind prizes at the prestigious Rice Business Plan Competition at Rice University in Houston.

Kalin Baca, Icorium co-founder and chief operating officer, and Abby Harders, part-time Icorium R&D engineer, represented the company at the competition, held by the Rice Alliance for Technology and Entrepreneurship in early April.

Baca earned her doctorate in chemical & petroleum engineering from KU in 2023. Harders is currently pursuing her doctorate in chemical & petroleum engineering from KU. Foundation Distinguished Professor Mark Shiflett, Icorium’s co-founder and chief science officer, and Erik Blume, Icorium’s chief strategy officer, accompanied the team to Houston.

The Rice Business Plan Competition is one of the country’s premier pitch competitions and showcases the best university startups from around the world. The competition gives collegiate entrepreneurs real-world experience to pitch their startups, enhance their business strategy and learn what it takes to launch a successful company.

“All of the teams presenting at the competition were really impressive, and even making it to the final round was an incredible experience,” Baca said. “The prize money will make a huge difference for the company at this stage, and we’ve made important connections with several investors who are interested in helping us succeed down the road. We were also thrilled to learn that we were the first team to compete in the RBPC from the University of Kansas.”

More than 450 teams applied for this year’s competition, and 42 were selected to pitch their technologies for more than $1.5 million in cash and prizes.

Baca and Harders pitched through multiple rounds of intense competition, refining their pitch based on the judges’ feedback as they made it to the 15-team semifinals on day one, then on to the seven-team final round on day two. 

“Kalin and I have worked together really closely for the last few years, both at KU and Icorium, and we make a great team,” Harders said. “Some of the Q&A sessions were intense, but we received a lot of excellent and valuable feedback from the judges during and after the competition and also a lot of supportive advice from investors afterward that will help us strengthen the pitch and company’s strategy even more.”

Harders, who will complete her doctorate in chemical & petroleum engineering in July, will join Icorium full-time after graduation along with Luke Wallisch, an Icorium R&D engineering intern and KU senior in mechanical engineering.

“We feel very fortunate and are incredibly grateful to RBPC and all the judges and investors at the competition,” Harders said. “The plan has always been for me and Luke to join the company full-time when we graduate this summer. Thanks to the prizes and investment from the competition, we know for sure we can make that happen and can just focus on finishing strong at KU.

Icorium Engineering Company is a sustainable engineering company and spin-out of the KU’s Wonderful Institute for Sustainable Engineering (WISE-KU). It is located in KU Innovation Park.

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