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VT KnowledgeWorks  

Rules & Guidelines 2012

Business Concept Challenge
For the purposes of this event, a “business concept” is essentially a business plan without all the text.  It has all the important elements of a plan, but will be delivered for consideration and judging via a live presentation, rather than by means of a large document.

A business concept is an attractive and well-researched market opportunity for which the team has devised a powerful and innovative response, including a viable financial business model.  The teams compete via 10-minute presentations.  The judges consider the viability of the market opportunity, the strength of the team’s response, the strength and balance of the team, the overall predictability of a success, and the professionalism of the presentation.

Eligibility

  • -  Only full-time, university students are eligible to participate.
  • -  Participants may elect to work in teams of up to five members.
  • -  Eligibility for the finals is based on winning a significant student business concept competition in the team's home region.  An example of a business concept competition model can be viewed here.
  • -  Each regional institution desiring to send a winning student team to The Challenge must register via the Intent to Compete Submission.

Presentation Guidelines 
Each student team will present its business concept at The Hotel Roanoke before a panel of judges, and interested onlookers, including other competing teams.  Student teams should prepare their presentation based on the following requirements: 

Judging Criteria

 
Clear Description of Product or Service and its Features
Concise Description of Underlying Technology and Required Development for Product or Service
Expected Customer Base and Match of Product/Service Characteristics to Their Needs
Market Size Description (growth rate, etc)
Competitive Position in the Chosen Market
Business Model: how will the company make money
Funding Needs and Potential Sources
Professional Presentation
Total