2nd Annual Innovation Challenge Kick-Off and Overview Information Session #1 & #2 September 27 & 29, 2011 www.csulb.edu/innovationchallenge.
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Presentation on theme: "2nd Annual Innovation Challenge Kick-Off and Overview Information Session #1 & #2 September 27 & 29, 2011 www.csulb.edu/innovationchallenge."— Presentation transcript:
2nd Annual Innovation Challenge Kick-Off and Overview Information Session #1 & #2 September 27 & 29, 2011 www.csulb.edu/innovationchallenge
Agenda: Kick-Off and Overview Competition Overview Content/Format Requirements Judging Criteria Team Mentor Program Important dates The Awards Event - Finalist Presentations
Objective Conduct a unique contest to identify, evaluate, select, and seed innovative ideas that have potential for commercialization. Stimulate students to pursue innovative ideas, learn how to create business plans, and reward the best of those plans with business-related services and seed funding.
The Competition Conducted annually Open to all CSULB students Each team prepares a business plan Judging by professionals The winning team(s) will receive: Business related services Seed funding
Competition Rewards Business-related services worth up to $40,000, based on availability: Office space Legal assistance Printing services: business cards, stationery, brochures, … Marketing services/consultation Accounting and tax assistance Communication services: web, phone, … Seed funding of $10,000
Competition Schedule September-February 2011 Attend information sessions December 2, 2011Last day to submit Letter of Intent (LOI) October 15, 2011 thru December 2, 2012 Match mentors with teams February 17, 2012Complete Business Plan packages due by 5 pm February 2012Notification of finalists & non-finalists. April 3, 2012Finalists’ presentations, completion of judging, and presentation of awards.
Letter of intent Submit form from website between October 15, and December 2, 2011 Includes: -Business/technology area and the market description -Project team members -Other relevant information
Business Plan Submittal Due: February 17, 2012 Submit to the Innovation Challenge email mailbox in pdf format. Must be approved by the team’s mentor Must adhere to the guidelines provided
Proposal Package Your Business Plan: No more than 20 pages. That’ s everything, cover sheet and all… Workshops: How to Write a Business Plan Nov 4 - 10am-noon ECS 312 Nov 9 - 4pm-6pm ECS 312 Checklist will be posted on the website Need help getting started? See these sites: http://web.sba.gov/busplantemplate/BizPlanStart.cfm http://www.bplans.com/ http://www.sb.gov.bc.ca/starting-a-business/business-planning
Judging Criteria Written business plan (evaluated to determine finalists) Commercialization potential Entrepreneurial and management experience of team members Creativity of technology or business idea Soundness of financial projections Written Presentation and style Presentations and final Business Plans for Finalists
Team Mentors Assigned once Letter of Intent is submitted Each team may have two mentors, one from industry and one academic Contact early and often. Advise the Innovation Challenge coordinator if trouble connecting. Mentors must should off midway through the competition and MUST sign off the final business plan (an email to the challenge site) Use their time wisely
Finalist Presentations Scheduled for April 3, 2012 am Finalist teams will be invited to present VCs, industry leaders, community leaders, advisory board and CSULB leaders will be invited Good event for networking
Final note… Send inquiries to email@example.com@csulb.edu Check this site regularly for guidance, updates and resources: www.csulb.edu/innovationchallenge