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.
Competitors may submit ONE venture per competition year. Students are not permitted to be on more than (1) proposal/application per challenge.
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.
Competition teams will be judged on the sustainability of the idea and strength of the venture implementation plan. See below for specific areas of focus.
- Problem: Was the problem framed in a coherent manner and is this a problem that needs to be solved?
- Solution: Was the solution presented in a coherent manner and was the value proposition clearly articulated?
- Market Opportunity: Is the market opportunity clearly defined and demonstrated (addressable market, competitors, size)?
- Team: Did the team demonstrate the skill, background and knowledge to deliver on its value proposition?
- Go-to-Market Plan: Was the go-to-market plan defined and demonstrated (customers, sales channels, distribution)?
- Financial Model: Was the financial model sound, including expected expenses, revenue forecast, critical metrics and targets?
- Progress to Date: Has the team demonstrated progress in testing and implementing their solution? Do they have a plan to move forward?
For questions please contact email@example.com.
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 15, 2019 – after that, no roster changes are permitted. Anyone initially submitted as a team member must agree in writing to be dropped.
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 15, 2019.
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?
Yep, you read that right: a total of $100,000 in seed funding is available. Awards will be given to the top teams in each track. So bring a killer idea that will rise above the competition.
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 15, 2019 deadline. Your application is saved automatically with each update you make.
Is there a fee to enter the Idaho Entrepreneur Challenge competition?
There is no fee to enter the Idaho Entrepreneur Challenge.
Can my team use any form of technology for our entry submission?
By entering the Idaho Entrepreneur Challenge, participants acknowledge that they must conform to the technology specifications detailed by the competition for the submission of competition materials. Further, while the competition will work to ensure proper technology functioning throughout the competition, we do not guarantee it.