For the current year's contest, see the SEAS Entrepreneurship Concept Contest 2011 page.

(This page retained for historical reference only)

School of Engineering Applied Science

2010 Entrepreneurial Concept Contest

Do you have a new idea for a product? A vision of a fantastic new business? A desire to become an entrepreneur? If so, then you should enter the SEAS Entrepreneurial Concept Contest!

How does the contest work?

This year’s contest requires U.Va. SEAS entrepreneur/innovators to submit brief proposals (eligibility to submit and proposal specifics are detailed below). Five or six finalists will be invited to present to a panel of SEAS judges. These presentations should be 10-15 minutes long, including a PowerPoint, and will be followed by a 10-minute question and answer session with the judges. Winners from the competition will share $5000 in prize money, and the top winner will represent SEAS in the U.Va. Cup Competition. The larger U.Va. Cup is a competition in which all participating U.Va. schools send their winning concept to compete for both $40,000 in cash prizes and the recognition that their school hosted the best entrepreneurial team at U.Va. Last year, the first-ever school-wide U.Va. Cup was won by SEAS and that trophy currently resides on the second floor of Thornton Hall in a plexiglass case. SEAS intends to keep it there for year two!

What can I win?

Thanks to a generous gift from Doug (SE ’87) and Lois (CS ’83, ’87) Garland, winners in the SEAS contest will be awarded:

• First Prize: $3,000 and must compete for the UVa Cup on November 19, 2010
• Second Prize: $1,500
• Third Prize: $ 500

Who can compete?

You may enter as an individual or with a team, but you and your teammates must be current U.Va. students faculty, or staff (undergraduate, graduate, or post-doctoral). Alumni may participate by partnering with any of the above.

What do I need to submit?

The SEAS contest submission is to be a two-page proposal written as an executive summary. It can be supported by two additional pages of exhibits (usually illustrations or data) and/or resumes of you and your team members. You should include a title page (not included in page limit) with the name of your product or proposed business as well as the names and email addresses for everyone on your team. One person should be designated as the contact person on the title page. Your proposal and supporting material should be in 10- or 12-point font with one-inch margins. Electronic versions must be submitted as either .pdf or .doc files. It should not be .docx.

What should my proposal cover?

It should describe your product or business idea, the market, the competition and competitive advantages. Specific market and financial forecasts are not required, although you should have a basic idea of the level of financing you would need to start the venture. Proposals will be evaluated on their viability in the current marketplace and social environment. See below for a checklist of topics to cover in your proposal.

What are the deadlines for the Contest?

Date
25 October	Proposals due by 5 PM
2-3 November	SEAS Finalists announced
10 November	SEAS Finalists present concepts in “live-fire” competition 3:30 - 5:30 pm in Olsson 120
19 November	SEAS winner competes for the UVa Cup.

Who are the SEAS Finalist groups?

The finalist project teams are:

• E.P.I.C.: Ecological Plastic Insulation Concepts, a Product Line of Pionetic Design by Adam Malcom (ME '06,'10)
• Camp Network by Marko Miklo (CpE '07,'10,'12) and Andrew Downing (Col '08)
• Sinus Gum by Rebecca Conti (Engr Sci '12)
• Medical Informatics Predictive Monitoring Platform by Brent Gerald Fauss (ChE '77,'79), Emma Fauss (ECE '08, '11), Craig Rusin (ChE '09)
• PuzzleCast: A Novel Method for Treating Fractures to Reduce Atrophy and Time of Immobilization by Daniel Amante (BME '12) , Kelly Anderson (BME '11), Amanda Harton BME '12) and Clara Tran (BME '12)
• Nancy's Pantry, by Christine Jogerst (CpE '11), Kaitlyn Ryan (CS '11), and Matthew Hurtz (CS '14)

If you have questions regarding the submissions process, please email Letitia Green:
seas.uva.competition@gmail.com

For more information on the Entrepreneurship Concept Competition, visit:
http://www.darden.virginia.edu/web/MBA/Entrepreneurship/Competitions/Concept-Competition/
For more information on the UVa cup, visit:
http://www.darden.virginia.edu/web/MBA/Entrepreneurship/Competitions/UVA-Cup/

Good luck and we look forward to seeing your proposals!
Professor Bernie Carlson, Engineering Business Minor Director
wc4p@virginia.edu

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Checklist of topics to cover in your proposal:

Concept Summary:

• Write a short paragraph describing your concept.
• Start with a one-sentence description of the underlying idea.
• Determine the customer/market.
• Decide how the business will generate revenue or the non-profit will be sustainable.
• State what makes the concept unique.

Value Proposition:

• Determine the "pain" or problem that the concept addresses.
• Explain the solution the concept provides.
• Discuss why these product/service benefits are real and valuable to customers.

Market Opportunity:

• Calculate the total revenues for the target market, where applicable. (This can be expressed in terms of total revenues or total expenditures by customers, or in terms of total customers multiplied by the average amount spent per customer annually.)
• If revenue is not applicable, how would you measure success?
• Discuss your current or anticipated competition.
• Describe the critical success factors and critical risks.
• Articulate milestone and longer-term goals.

Product/Service Description:

• Describe the attributes of any product or service.
• Explain how the product will be produced or how the service will be performed.
• Determine how much or what types of resources would be generally required.

Management Team:

• Who are members of the team?
• What are their backgrounds?
• What are their intended roles within this proposal?

Disclaimer:

The SEAS Entrepreneurial Concept Contest will be open-session. Information deemed highly proprietary or sensitive should not be included or disclosed in either submissions or presentations. Concept documents will not be published or distributed except as described above. Participation in, submissions, and information disclosures for the competition are wholly voluntary. Participants should note that they alone control the content of their disclosures. SEAS and the University of Virginia assume no responsibility whatsoever for accidental or third-party breaches of confidentiality.