Step-by-Step Guide to Applying for the Entrepreneurship Summit’s Student Business Concept Competition

VT KnowledgeWorks will present the Second Annual Entrepreneurship Summit on April 7-8, 2010 at the Inn at Virginia Tech & Skelton Conference Center in Blacksburg, Virginia.  More about the Summit is in this announcement.

Part of the two-day Summit will feature presentations by finalists in the Business Concept Competition, five in the Student Business Concept Competition and five in the Open Business Concept Competition. The Business Concept Competition is open to technology entrepreneurs in Virginia and western North Carolina.  The finalists will pitch their business concepts to an audience of 150 business professionals - including a panelist of judges - on April 7, 2010.  The Student Business Concept Competition is at 10:00 AM and the Open Business Concept Competition is at 2:00 PM.  Here's the full schedule for both days.

The Student Business Concept Competition is open to all registered college students in the Commonwealth of Virginia and western North Carolina. Only full-time students are eligible to participate and receive prizes if selected as a top five finalist team. Students may elect to work with teams of up to three; at least one student must be registered at a college or university in Virginia or western North Carolina.

The Winning Team in the Student Business Concept Competition:

•receives $5,000 in cash and iPod Nanos
•qualifies for the VT KnowledgeWorks Global Business Concept Competition September 1-2, 2010
•obtains workspace in the Virginia Tech Corporate Research Center for the summer 2010

The second and third place teams receive:

•$2,500 in cash
•iPod Nanos

The fourth and fifth place teams receive $25 Best Buy gift cards. iPod Nanos and gift cards are generously sponsored by Best Buy.

Here are Step-by-Step Guide to Applying for the Entrepreneurship Summit's Open Business Concept Competition.

Following is a step-by-step guide to applying for the Entrepreneurship Summit's Student Business Concept Competition.

Registration, by one student or a team of up to three students, of an Intent to Compete with payment is due February 5, 2010.

A one-page summary of the business concept is due February 12, 2009. 

The one-page summary must include:

  • Business concept title and team member name(s)
  • Business product or service
  • Underlying technology
  • Uniqueness/innovation of the concept
  • Expected initial and potential customer base for the product or service
  • Customer need met by the product or service
  • Estimate of the market size for the product or service

To adhere to the one-page limit, applicants are encouraged to create the one-page summary in Microsoft Word first, then copy and paste the text for each required section into the required online application.

The One-Page Summary Guidelines are avaiable here in .pdf format. 

From the submitted one-page summaries, Student Business Concept Competition semi-final participants will be selected by February 19, 2009.

The semi-final participants will create further application materials in the form of a three- to five-page Business Concept document.  For this stage of the competition, here's a link to a .pdf with the Business Concept Guidelines (.pdf).

From the students or student teams selected to submit Business Concept documents, the top five finalists will be selected to present at the Student Business Concept Competition during the Entrepreneurship Summit.

The top five finalists for the student competition will be announced Monday, March 15, 2010.

For further information, please contact:

Lindsey Eversole, Member Services Manager
VT KnowledgeWorks
leversole@vtknowledgeworks.com
540-443-9100 x2

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VT KnowledgeWorks is a unique growth enhancement program open to entrepreneurs in the New River Valley of Virginia and beyond.  Acceleration center and incubation facilities are located in the Virginia Tech Corporate Research Center in Blacksburg, Virginia

VT KnowledgeWorks sponsors include Attaain, Inc., BB&T, Handshake 2.0, Harris Office Furniture, Hodges, Jones & Mabry, P.C., Latimer, Mayberry & Matthews IP Law, LeClairRyan, Science Applications International Corporation (SAIC) and The Becher Agency (TBA).

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