Startups enter through categories of conceptual or functional, with preliminary rounds filtering out and refining those with merit. Ten startups in each category are selected for finals, competing for a variety of prizes that will help further their startup. Previous contestants have continued on with their startups, the most notable recent example being Crowdmass a group buying website that was acquired by US discount giant Groupon.
General Rules of Competition
1. A maximum of 4 people in a team
2. Each team must consist of at least one current university student, and the pitcher must be a student
- 3. Teams may not employ a professional for the actual pitching
- 4. No restrictions to number of IDEAS and STARTUP entries allowed per student/group (only one would be considered for the finals).
5. Each team must submit their answers to the online questionnaire by midnight on 11th September 2011.
Entrant Type Rules
Category 1: Idea
Recommended to all students – simply think of a product/service with a bit of thought and a good selling point!
Category 2: Start-up
Recommended for students with concept development under-way. Some examples of “startups” can be one of the following:
- 1. Formulated Business strategy OR business plan
- 2. Built a model OR plan of the desired product/service
- 3. Completed Business registration OR business launch
- 4. Established operation revenue OR profit
Judging Rules/Criteria
Round 1: Online Submission
Entrants will be judged upon the creativeness and logic of their submission. We are looking for good thought behind the IDEA or STARTUP and a genuine interest entrepreneurship.
Round 2: First Pitch
Each team will have 60 seconds to pitch their idea to the organizers of Ideapitch, teams should concentrate on three key areas in their pitch:
- -Core strengths of IDEA/STARTUP
- -Feasibility of venture
Round 3: Final Pitch
Each team will have roughly 60 seconds to pitch their idea to be filmed by the organisers. The pitches will then be judged live by a panel of judges during the closing ceremony of IdeaPitch. Top 3 startups (selected by judges) would have the opportunity to present their business idea at the closing ceremony - a total of 5 minutes would be allocated to both the presentation and the Q & A session following it
Judging will be based on the following criteria:
- -Pitch Delivery (30%)
- -Feasibility of Venture (20%)
- -Competitive & Operational Strength (20%)
- -Originality and Innovation of Concept (20%)
- -Socio-economic value (10%)
Submit your idea now!
Deadline: Midnight 11th September, 2011