The Diamond Challenge is an initiative of the Horn Entrepreneurship at the University of Delaware to empower the next generation to adapt and thrive in a rapidly changing world. It provides free, open-access resources for students, educators, and practitioners of entrepreneurship. Participation in the Diamond Challenge involves learning from the pursuit of new ideas. It also involves the creation, submission, and presentation of original content in the form of business and social concepts.

As such, 2020 Diamond Challenge is accepting applications from students and young entrepreneurs who are seeking their passion to run a successful venture. The entrepreneurship competition is open in two tracks: Business innovation and social innovation.

In the track of Business Innovation, your model will help solve a customer problem while also generating revenue and profit. The business innovation competition focuses on the development as well as the validation of new business models.

In Social Innovation track, your model will solve a social problem and make a positive impact on people/environment. Further, you will focus on the development of social innovation models that may include revenue-generating nonprofit organizations as well as mission-driven, for-profit ventures.

Winners of the University of Delaware 2020 Diamond Challenge

The competition will take place in three rounds. The first round is registering for the Diamond Challenge and submitting the idea. A panel of judges will assess the idea and shortlist candidates for the next round where they will pitch their ideas and move on to the semifinal round. The three winners form the semifinal rounds will receive:

• 1st Prize Winner:  prize package worth over $13,000
• 2nd Prize Winner:  prize package worth over $9,000
• 3rd Prize Winner:  prize package worth over $5,500

Further, all three winners will receive tickets to the Summit as well as two hotel rooms for up to three nights. Also, they will receive meals during the conference, and access to speakers, mentors, and innovators.

Eligibility for the University of Delaware Diamond Challenge

• Students must compete in a team of 2-4 participants each between the age of 14-18 years
• Teams require one adult advisor in a position to provide the opportunity to participate and available to support the team.
• Teams may be comprised of students from more than one school. However, a student may participate on just one team.
• Also, Businesses and social concepts must NOT have generated more than $100,000 in total revenue prior to the submission deadline.

How to apply for the Diamond Challenge?

In order to apply for the Diamond Challenge, a participating team must meet all the eligibility criteria set by the Horn Entrepreneurship at the University of Delaware. A team then may apply for the entrepreneurship challenge by registering their team and submitting their idea through the online submission form.

Deadline

The Horn Entrepreneurship at the University of Delaware accepts the application for the Diamond Challenge until 8 January 2020. Applications arriving after the deadline are ineligible for the competition.