Utah Entrepreneur Challenge

Utha Entrepreneur Challange

The Utah Entrepreneur Challenge (UEC) is a statewide, student business-model competition. Teams from universities across the state compete for the best business plan and a chance to win more than $100,000 in cash and in-kind prizes. Participating teams receive mentorship from community experts, and are judged by industry professionals. The grand prize is $40,000 in cash, and additional prizes are granted for best business plan, presentation, technology, and more. Many past winners have developed into successful enterprises. The competition is open to all university students across the state.

Eligibility

The UEC is a student entrepreneur competition. Competing teams must be composed of at least one Utah college or university student and meet all of the following criteria:

●  The team must be organized and directed by a student from a college or university in the State of Utah.

●  The founding student must be registered for a minimum of nine (9) credit hours during both semesters of the competition year*

●  The student team members must be involved in all aspects of the UEC competition.

●  The team must not have been a finalist in past Utah Entrepreneur Challenge competitions from previous years. (This eligibility requirement refers exclusively to the Utah Entrepreneur Challenge and does not include Opportunity Quest or any of the events hosted by the Lassonde Entrepreneur Institute.)

*Students who are enrolled for nine credit hours during the fall semester and graduate the same semester may request a review; upon the results of that review the student may or may not be granted eligibility based on conditions set by the UEC.

There are no restrictions regarding other team members. The UEC suggests building a team with a strong combination of accounting, finance, marketing, engineering and technology skills.

An individual team may provide more than one entry, however, each executive summary must be registered separately.

Company formation is not a requirement to enter the competition. Entries from existing companies are only accepted if they meet the following criteria:

●  The company is no more than 24 months old as of February 2017.

●  The cumulative revenue for the company has not exceeded $100,000 as of February 2017 **Rules and exceptions to rules are up to the discretion of the Lassonde Entrepreneur Institute Staff.

The Competition Process

Round I: Executive Summary

Round one is open to all participants. To compete, teams must register online at lassonde.utah.edu/uec by Tuesday, February 21, 2017 at 11:59 PM. Be prepared to list the team’s primary contact name, phone number, e-mail address, school, and student ID number, as well as the names of other team members. There is no registration fee.
Teams entering the competition must create and submit an executive summary detailing their business idea. The executive summary must be received via lassonde.utah.edu/uec by Tuesday, February 21, 2017 at 11:59 PM. Deadlines are strictly enforced. The top 20 teams will be chosen as finalists by the judges and announced on the UEC website Friday, March 3, 2017. The top 20 teams will be invited to participate in the UEC Final Event and will receive a $500 prize.

Round II: Video Submission

The top 20 teams will move on to the second round and must create a 2 minute video based on their executive summary. The video and must be submitted via email to Jaron Hall (j@jaronhall.me) and include a downloadable link (dropbox, box.com, google drive, etc.) by Friday, March 24, 2017 at 11:59 PM. These items are necessary for the final UEC event. Failure to provide these materials may lead to disqualification.

Round III: Final Presentation

Each of the 20 teams will be invited to the final UEC event held on Saturday, April 15, 2017 from 7:30 AM-6:00 PM. Here teams will be able to meet with their mentors, present to two panels of judges, table for spectators, and receive awards. Final judging will take place on Saturday, April 15, 2017. The winner of the $40,000 grand prize and winners of other prizes will be announced during the evening of the final event.

Official Link: http://utahentrepreneurchallenge2017.startupcompete.co

Deadline: 21 February, 2017