January 26, 2018

Rules & Requirements

Have an idea of a new product and want to learn how to become an Entrepreneur? Come display your idea in front of fellow aspiring high school entrepreneurs!

The competition will take place on March 28th from 6pm to 8pm at the Gateway Center for Technology, Innovation and Enterprise in Covington, Kentucky. (516 Madison Ave, Covington Kentucky 41042). Winners will compete on April 18th at the Final Luncheon Event.

Regulations:

  1. Students must be in high school
  2. Each team can have a max of 6 members
  3. Each team must come up with either an idea, innovation or traditional plan for either a business or product and present the presentation at the competition.

Idea plan: No real plan but an idea that you believe is worthwhile.

Innovation plan: An idea that has the potential to improve the quality of a certain product or service.

Traditional plan: Adding to an existing idea or company that you feel can improve the quality and efficiency of the product.

Requirements:

  1. The idea plan must include a 1-2 page summary describing the idea.
  2. Both Innovation and Traditional plans must include a: 3-10-page summary covering problem, solution, customers, marketing, and financial potential (overview of the market size, expected price and cost of the product or service).
  3. Each team is also required to create a powerpoint presentation and include a max of 10 powerpoint slides describing the team’s idea.

Dates:

  1. Teams are required to commit to the competition by March 12, 2018
  2. Business plans or summaries are due by March 15th 2018
  3. If selected to move on to the state competition, the team will attend the competition on April 18th at the St. Elizabeth Training Center in Erlanger

Judging Method:

Judging criteria is primarily based on your presentation. The summary/business plan will be scored for a tie breaker and placement in the competition.

Prizes:

Regional competition: Assorted gift cards for participants that reach the minimal criteria

Final Competition: Up to $5,000 in prizes