Competition Criteria
General Criteria
Each student or team will submit a written business proposal and a rocket pitch video by the deadline. Based on the idea of lean start-up, the executive summary and rocket pitch should include, but are not be limited to, the following:
- What is the problem? Identify the need for the product, technology or service, and why the idea could help solve that problem.
- What is the value? Explain how the idea benefits customers and what it makes it different from other products or services.
- Who is the customer? Identify the target audience or group most likely to use or purchase the product or service.
- What is the path to market? Identify the steps to implement your idea and obtain your first customer.
- What does it cost? Identify basic resources, costs, or materials needed to develop the idea.
- What do others think? Explain any feedback received and whether the idea changed or improved so far because of that feedback.
Written Proposal Criteria
- The written proposal should clearly describe the business idea while answering the questions listed above
- The summary should be 2-3 pages
- The business idea must be original and created by the student or student team
Rocket Pitch Criteria
- The Rocket Pitch is a concise presentation describing the business idea in 1 minute or less (video)
- Students may decide on who participates in the rocket pitch presentation but at least one person must be visible in the video
- Participants may utilize presentation software and/or visual aids
- The pitch should be organized, engaging, and easy for judges to understand