Applications are now open for the University of Delaware Diamond Challenge 2020. The Diamond Challenge provides students from around the world the opportunity to pursue their passions through entrepreneurship.
The Diamond Challenge provides a unique opportunity for teens to learn about entrepreneurship while putting their ideas into action. While many entrepreneurship programs focus on principles of small business management, the Diamond Challenge focuses on unleashing creativity, encouraging a mindset of abundance and self-determination, and promoting purposeful entrepreneurial action.
- Business Innovation: If the primary purpose is to solve a customer problem that by doing so will generate revenue and profit, then the business innovation competition is right for you. The business innovation competition focuses on the development and validation of new business models.
- Social Innovation: If the primary purpose is to solve a social problem and make a positive impact on people or the environment, then the social innovation competition is right for you. The social innovation competition focuses on the development of new, social innovation models that may include revenue-generating nonprofit organizations and mission-driven, for-profit ventures.
- 1st Place: A prize package worth over $13,000, including the $2,100 in-kind semifinalist prize package
- 2nd Place: A prize package worth over $9,000, including the $2,100 in-kind semifinalist prize package
- 3rd Place: A prize package worth over $5,500, including the $2,100 in-kind semifinalist prize package
- The in-kind semifinalist prize package includes tickets to the Summit, two hotel rooms for up to three nights, meals during the conference, and access to speakers, mentors and innovators.
- Teams must be of 2-4 high school students typically between 14-18 years of age. Further, at the time of the submission deadline. Also, must be enrolled in an official high school/secondary education institution for the duration of the Diamond Challenge
- Teams may have more than one advisor, however, only one may be included in your official team submission. The advisor you include will be a main point of contact for the competition
- Any given student may participate on just one team (and therefore submit just one concept) per competition cycle/year
- Teams may be comprise of students from more than one school
- Only concepts that have been conceived by the members of the team may be submitted to the Diamond Challenge.
- Businesses and social concepts must NOT have generated more than $100,000 in total revenue prior to the submission deadline