The EEC Elevator Challenge
February 15th - 6:00 p.m. - Cremer Hall 1st Floor
Do you have what it takes to pitch your business idea?
Ride the Cremer Hall elevator from 1st to 5th and pitch your business idea for 27 seconds! Win one of three $100 prizes: Best Pitch, Best Idea, and Judge's Choice! Pizza and prizes! Meet local entrepreneurs to discuss your business plan for EEC! No reservations, just show up! Sponsored by Beta Gamma Sigma.
The Emporia Entrepreneur Challenge
The Emporia Entrepreneur Challenge is a venture idea competition that is open to students from Emporia State University and Flint Hills Technical College.
The framework for the Challenge begins with participants, either individuals or teams up to three members, submitting a 3-page executive summary and registration form to the competition by Wednesday, February 22nd, 2017. Through submission of the executive summary, teams will attempt to refine their venture with the intention of advancing to subsequent rounds of the competition.
By March 3rd, a panel of academic graders will select up to 20 semifinalist teams to advance in the competition. During the semifinal round, students will have one month to redefine their big ideas (based on graders' feedback) and students will work with faculty and local entrepreneurs in class to further develop their concept.
March 15th: Share Your Business Story Night! Time and place to be determined. One member must be present from each group.
On April 3rd and 4th semifinalists will have 15 minutes to pitch their final business plans to a panel of professional judges and go through a series of questions and answers.
On April 10th, the semifinalist teams will present their business concepts to the community and judges at a community showcase in the Memorial Union. During this showcase, the top three teams will be chosen and asked to make a 3-5 minute business pitch to determine 1st, 2nd, and 3rd place!
The winner of the EEC will travel to Kansas State University on April 17th to represent Emporia in the Kansas Entrepreneurship Challenge.
Teams will be competing for cash prizes.
1st Place: $2,500.00
2nd Place: $1,500.00
3rd Place: $500.00
Register here: EEC Registration
Product development should take place in early spring, with the initial deadline to enter the competition being February 22nd. The subsequent stages of the competition will take place throughout the duration of the spring semester with a culminating presentation on April 10th.
The Emporia Entrepreneur Challenge is open to all full-time and part-time undergraduate and graduate students at Emporia State University and Flint Hills Technical College enrolled during the spring 2017 semester. Students from all majors and backgrounds are encouraged to participate. Non-students may advise the team; however, only students may present the plan to the judges during the competition on campus. The concept and venture must demonstrate student management and ownership.
Individuals may submit a concept. However, entrepreneurship teams are encouraged. Student teams should not exceed three students.
The Emporia Entrepreneur Challenge welcomes independent student ventures in the concept stage or seed stage. Generally excluded from entry are the following: buy-outs, expansions of existing companies, real estate syndication, tax shelters, franchises, and licensing agreements for distribution in the local market. Plagiarism of patents or copyrights will result in disqualification.
Limit on Ideas
Teams or individuals may submit up to two different business concept ideas. However, only one concept per person/group may qualify for the semifinal round.
Written Executive Summary:
The written executive summary must be submitted in electronic, PDF format, by midnight, Wednesday, February 22nd, to email@example.com. A confirmation email will be sent Friday, February 24th, at noon. If students do not receive an email they need to contact Beth Ginter at 620-341-5371 or firstname.lastname@example.org.
The 3-page executive summary presents the idea for initial evaluation in a short and compelling form. This is not a research report. It is a sales pitch! The effort involved in preparing the concept requires the team to carefully and realistically assess the opportunity. This action is the first step in developing a business plan. The idea feasibility, when completed, will present the key information needed to evaluate the opportunity, without going into the depth that a full business plan requires. The completed executive summary should be no more than three pages.
The type of information you need to communicate to the reviewers of your business idea include:
Concept: Make a compelling statement about what you are proposing to do. Is this a product or a service, and what exactly is it? Does this idea solve a pain/frustration or address a critical want or need?
Feasibility: Give a reason why your concept should be done. If you are proposing something that is cutting edge, you need to give us some reason to believe it can be developed and you know where to get the expertise to do so.
Market potential: Is there a market opportunity for your idea? Who are the target customers? How big is the market? Is it growing?
Business Model: If this business can be financially sustainable, how will you propose to make money? Non-profit business models are also welcomed, but these businesses must be able to sustain their business.
Competition: Do you know who the competition is? What is your competitive advantage?
A panel of judges will determine up to 20 semifinalists by reviewing the executive summaries. The semifinalist teams will then make oral presentation to judges. The semifinal oral presentations will take place on Monday, April 3rd and Tuesday, April 4th, 2017. On April 10th, the semifinalist teams will present their business concepts to the community and judges at a community showcase in the Memorial Union. During this showcase, the top three teams will be chosen and asked to make a 3-5 minute business pitch to determine 1st, 2nd, and 3rd place! The winner of the EEC will travel to Kansas State University on April 17th to represent Emporia in the Kansas Entrepreneurship Challenge.
Oral Presentation Guidelines for the Semi-Finalists and Finalists
Note: These guidelines are for all oral presentations. All teams must develop a visual aid to accompany their oral presentation.
Your visual aid should be no more than 12 slides long and cover the information outlined in the written executive summary. You should assume that the judges will not have read your written concept, so the visual aid should provide a complete explanation of the concept. A suggested outline is:
1. Intro: What's your idea?
2. Management: Who's on your team?
3. Market Need: Who are your customers?
4. Value Proposition: Why will they buy?
5. Competition: Who's your competition?
6. Strategy: How do you generate sales?
7. Financial: How many will you sell? At what cost?
8. Plan: What are your next steps?
- Time limits for the oral presentations will be 10-15 minutes, with 15 minutes allotted for question and answers. A common strategy is for one member of the team to give the bulk of the presentation while other members provide support in areas of their respective expertise. It is to be determined by each team how they would like to present.
- During the semifinals, teams will present in front of only the judges and assistants for the Emporia Entrepreneur competition. No general audience or other teams are allowed to hear the presentation.
- A laptop and projector/screen will be provided.
- Remember oral presentation should be compelling and persuasive! This is not a research report, where you demonstrate that you did the work, but a sales pitch where you convince the judges that you and/or your team can succeed.
- The winners of the competition will be named at the event on April 10th. Awards will be given to the top three places.
- If students compete in teams, prize monies will be divided equally among team members.
- Placing in the competition does not guarantee that teams will have investors.
For more information on the Emporia Entrepreneur Challenge; please contact Dr. Jeff Muldoon at email@example.com or Beth Ginter at the School of Business at 620-341-5371 or firstname.lastname@example.org.
Emporia Entrepreneur Challenge Competition Documents