Rules, Eligibility and FAQs
- A team must include at least one student enrolled in an Idaho University or College. While we encourage collaboration with industry, we require that that at least one student on the team be a founding member.
- High school-only teams are not eligible to apply.
- Graduates and undergraduates may apply as long as they are an active Idaho university or college student at the time of registration.
- Seniors who are graduating in Fall 2020 may still apply and compete in the 2021 IEC.
- Competitors may submit ONE venture per competition year. Students are not permitted to be on more than (1) proposal/application per challenge.
- Only fully completed registrations will be judged in the preliminary rounds.
- We reserve the right to disqualify any proposal/application that we, in our sole and absolute discretion, determine not fit within the parameters of the challenge.
Are there restrictions on how the prize money can be used?
By entering the Idaho Entrepreneur Challenge, participants acknowledge that funds awarded by the competition are intended for purposes of funding the business concept entered.
Can I change or substitute team members?
For the Idaho Entrepreneur Challenge, team rosters may be modified (members added or dropped) up to February 20, 2021 – after that, no roster changes are permitted.
How is the prize money split between team members?
Unless written documentation is provided stating otherwise (signed by all team members), prize money is split evenly among all team members listed on the application as of February 20, 2021.
Does my venture have to be in a specific stage?
Your venture can be an idea, in development, or an early stage startup with or without sales. Be prepared to explain the problem you are solving, your solution, the market opportunity, your team, your go-to-market plan, financial model and progress to date.
What happens at the final pitch competition?
Every team will pitch their venture to 3 different judge panels. You will have 4 minutes to pitch your venture and 6 minutes of Q&A. Each judge panel will evaluate and score your pitch and teams will be ranked based on the cumulative scores of all three pitches.
How much money can my team win?
Total Prize Money: $45,000 + services to advance startups, including accounting and legal.
Awards will be given to the top teams in each track. There are four tracks: Technology, Products, Health & Wellness, and Local Services.
Track Winner: $7000
Track 1st Runner Up: $3000
Track 2nd Runner Up: $1000
President’s Award: $1000
Do I have to complete the application all at once?
You may update your application and add or remove team members at any time until the February 20, 2021 deadline. Your application is saved automatically with each update you make.
Is there a fee to enter the Idaho Entrepreneur Challenge?
There is no fee to enter the Idaho Entrepreneur Challenge.