Do you have a business idea that you would like to pitch? We are looking for entrepreneurs from a variety of backgrounds to participate in the Startup Business Pitch Contest held virtually. Finalists will compete for cash awards in a Business Pitch Presentation.
The deadline for entries will be Friday, December 2nd. Business Pitch submissions are reviewed by a panel of judges and finalists will be chosen. Awards and entry rules are listed below.
A presentation event date will occur between December 2nd and 15th based on the schedules of finalists and judges. Each presenter will have five minutes to present their business idea to the 3-person panel of judges. The judges will have four minutes to ask questions to understand more about the viability of the business.
At the completion of the pitches, the judges will award the 1st place finisher, the 2nd place finisher, and the 3rd place finisher. Awards will be paid directly to awardees by check. There is no requirement that the finishers open a business in Jamestown, ND. However, there are financial incentives available for opening a business within the city.
Awards:
1st Place
– $1,000
2nd Place
– $750
3rd Place
– $500
Rules:
Participants must be available to present their idea virtually to the panel of judges. The competition is for individuals who have played a major role in conceiving the proposed venture. Each individual or team pitching may enter one idea or concept. The competition is open to the general public. The business must be in the pre-revenue stage. The business concept must not have been presented at a previous Business Pitch Competition. Contestants should be aware that no one on the panel or in the audience will be completing a non-disclosure agreement. Check with an attorney about what information to present if there is a concern about it becoming public.
Guidelines:
Objective – The goal of the pitch is to define the idea or concept by explaining a product, service or value proposition in a short duration of time (5 minutes). This is not a sales pitch, but a description of the validity of the business idea.
Introduction – Participants are encouraged to introduce their team members and the problem their business is trying to solve.
Format – The pitch is a simple summary of the concept and during the presentation, you can use any form of media (including PowerPoint/whiteboard) to assist in the explanation of the idea.
Time – There are 5 minutes allocated to each participant and 4 minutes allowed for questions and answers with the judges. Time will be tracked and the presentation will be cut off at the end of the allotted time.
Things to consider when creating the Business Pitch Competition presentation:
–PLAN CONTENT: Clear and thorough with supporting information, research & analysis.
–INNOVATIVENESS: Is the idea distinctively creative or different from other products/services on the market OR in the community?
–TARGET CUSTOMER: Clearly identified who will buy or use the product or service & why. Market is carefully chosen and the company has the ability to reach and retain them.
–PRODUCT-MARKET FIT: Addresses a market need or opportunity.
–IMPACT TO COMMUNITY: Will have a positive effect such as on sales, social value, impact on users, other businesses, etc.
–SCALABILITY: Potential to grow & generate income. Provide details on initial investment and pricing structure.
–LEADERSHIP TEAM: Expertise to manage the business in its current state and/or has addressed the need for additional key people and strategies to attract these individuals.
–FEASIBILITY: The business model is operationally feasible and financially attractive, is likely to launch and/or grow.
–PITCH PRESENTATION: Delivery is clear, in logical order, effective, and with good visual presentation. Q&A is answered with expertise.
Resources to support the development of the Business Pitch presentation are available on the event link at www.JRECenter.com.
More Info: http://www.JRECenter.com
Event Start Date: 10/07/2022 Event End Date: 10/07/2022
Time: 8:00am - 11:30pm
Katherine Roth
701-253-4112
Katherine.Roth@uj.edu
Location Name:
Virtual Workshop
Location Address:
Jamestown, ND
Event posting from www.JamestownCalendar.com