A Quest For Supportive Data
New ventures must establish demand for the new product or service proposal. Industry, market, and product/service research provide data to support financial projections and target market potential. The participants should clearly demonstrate personal enthusiasm for the new venture with plans that account for scale and social improvement. That means building a foundation that will allow and support growth. Illustrating community value shows how the venture will contribute to social improvement.
All student participants must complete three projects to determine the best new Venture. The mandatory Tournament Workshop helps participants understand each project requirements. Guidance and personal coaching provides help with each step. The Workshop weekly topics build each project incrementally providing time for revisions before deadlines.
Required Tournament Projects
- Formal Business Venture Plan
- 10-minute formal presentation
- 1-minute or less recorded video “pitch”
- Students market the pitch to get student votes.
Formal Business Venture Plan
The formal Business Venture Plan demonstrates that the new venture has a market and demand for the product or service. Research provides data that support the marketability claims and helps with financial forecasting. The plan is critical to winning the tournament and showing the judges how well the planning was done to propose the new Venture. Judging will consider accuracy, business scalability, and how the Venture will contribute to social improvement within the community.
|15%||Product or Service|
|20%||Marketing Plan Overview|
|25%||Finance and Accounting|
The formal presentation must be completed in 10 minutes or less. The idea is to pitch the idea succinctly and engage the judges attention. Participants will potentially present their idea three times.
- Program Level Competition
- Division Level Competition
- Five Division Finalists will compete at the Gala Event during Spring Term.
1-minute Venture Idea “Pitch”
Participants record a 1-minute or less video “Pitch” to promote their idea. Participants use social media to convince other SOU students to watch their pitch and vote for it. Student votes are driven by the participant’s method of obtaining them. They may use any promotional vehicle that abides by the Student Code of Conduct, remains decent, and is approved by the Tournament Master.