1st Annual Monroe County Community College
Business Idea Pitch Competition
Click on the following link to see the Business Idea Pitch Finalists: FINALISTS

Guidelines Packet


    Awards

    1st Place - $1,000 Scholarship and $500 Cash
    2nd Place - $500 Scholarship and $250 Cash
    3rd Place - $500 Scholarship and $100 cash

    Overview

    The business idea pitch – also commonly known as an “elevator” pitch because of the limited time one has when attempting to converse with someone in an elevator – might be the most essential function of being an entrepreneur and convincing venture capitalists to invest in a startup.  This competition will give participants an opportunity to practice this essential skill of selling their idea in a very short period of time.  Participants will be given 120 seconds to sell their business idea to a panel of judges who have money to invest in them. This money comes in the form of a scholarship and prize money, which will be awarded to participants whose pitches are judged to be in the top 3 in each category.

    Who Should Participate?

    • High school students in Monroe County
    • Any Monroe County Resident/Business
    • Current  MCCC students or Alumni
    • Individuals interested in starting a business but who lack the funds
    • Individuals who have a small business that could use money for growth
    • Individuals who want to test the waters for a business idea
    • Individuals who want to practice selling a product to others
    • Individuals who want to earn scholarships dollars toward their education at MCCC

    Deadlines and Dates

    1. Register online by completing the entry form at DEADLINE HAS PASSED.
           Deadline: May 6, 2014
    2. Notification of Top 10 will be posted at www.monroeccc.edu/businesspitch on May 13, 2014.  Top 10 will also be sent an email with more details on final presentations.
    3. Oral Presentations at Competition
      Tuesday, May 20  6-8:30 p.m.
           6 p.m.:  High School Competition
           7:15 p.m.:  MCCC/Resident/Business Competition
      La-Z-Boy Center
      Monroe County Community College
      1555 S. Raisinville Rd.
      Monroe, MI  48161

    The Competition Process

    1. Register Online – Deadline:  May 6, 2014
    2. Notification of top 10 to present at competition:
      The top 10 participants in each category will be contacted by the email they provide on their registration form.  Finalists’ names will also be posted on the competition website at www.monroeccc.edu/businesspitch on May 13, 2014.  The top 10 in each category will receive detailed instructions for the competition event in their email.
    3. Oral Presentation of Business Idea Pitch & Awards Ceremony:  May 20, 2014
      Presenters should arrive no later then 5:30 p.m.   At that time numbers will be drawn to determine the order in which the finalists present to the panel of judges.  All participants should be dressed in professional business attire for the event. Presentation Participants will be asked to present their business idea within 120 seconds. Immediately following the 120-second presentation, the participants will answer 3 minutes of questions from the judges about their business idea. Participants are advised to limit visual aids to one or two items.  Computer/PowerPoint presentations will not be allowed.

    Eligibility

    Student Requirements

    1. All participants must either be a current MCCC student or alumnus, or reside or operate within Monroe County.

    Ownership of the Pitch

    1. The competition is for individuals who have played a major role in conceiving the proposed venture.
    2. Applicants must have key management role in the proposed venture.
    3. The business must be in the pre-revenue stage and primarily located within Monroe County.  This competition is for new business ideas only.

    Confidentiality and Intellectual Property Guidelines

    1. Contestants should be aware that neither administrators of the competition nor judges of the Business Idea Pitch Competition will be required, nor should they be asked, to sign non-disclosure agreements.
    2. Contestants are encouraged to be selective about what they disclose, to label plans and contents with the words CONFIDENTIAL AND PROPRIETARY, and to seek legal counsel if they have any further questions regarding the legal protection of their ideas.
    3. The oral presentation and awards ceremony portion of the competition is open to the public at large.  Any and all of the public sessions may be broadcast to interested persons through MCCC and media which may include print, radio, television and the Internet.  Any data or information discussed or divulged in the public session by entrants should be considered information that will likely enter the public realm, and entrants should not assume any right of confidentiality in any data or information discussed, divulged or presented in this session.
    4. Monroe County Community College may make photographs, videotapes and/or audiotapes of the oral presentations, as well as photographs or photocopies of any other material/entry forms prepared by participants for the competition.  Information contained on entry forms may be used in publicity materials by MCCC.  Contestants retain all proprietary rights.

    How to Win

    The judges will choose as the winning pitch an idea that understands its market, provides detailed evidence of potential success, and has motivated and dedicated management.

    1. Compete on technology and quality, not price.
    2. Catch the judges’ attention quickly and prove that you are capable of superb communication.
    3. Know your market, what types of individuals comprise it and what you can predict about potential changes.
    4. Prove your idea’s ability to sustain a competitive edge.

    Additional Information

    • Rounds of the competition
      • First round – Based on online application. Narrowed down to 10 Finalists
      • Second round – Based on 120-second verbal pitches and 3-minute question and answer session the night of the competition.  Judges will deliberate and prize money will be given to 1st, 2nd and 3rd place finishers in each category.

         
    In the event of an insufficient number of submissions, the College reserves the right to postpone the competition in an effort to promote greater participation.