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PROCESS

Terms of Eligibility

The competition is open to all teams that have a current CSULB student(s) in a leading role. A team size of 1 to 5 members is recommended. Students should look for entrepreneurial, innovative, and business-minded team members. Teams are encouraged to have members with diverse business skill sets in order to compile a winning combination. Teams must deliver a compliant business plan by February 27, 2014 to be considered for participation. Students are allowed to gain assistance from business professionals outside of campus. Mentors will be assigned to each team, consisting of CSULB faculty and/or external business professionals.

Judging (Guidelines)

Selection will be made in several steps. First, the written business plans are down-selected. Then the down-select judges meet with these selected teams. Based on the written business plan and the meeting, four are selected as finalists. These finalist will then present to the judging panel at the Award Event.

The exact judging criteria and weighting may vary by the specific judge and year to year but the guidelines are as follows:

  • Written Business Plan (evaluated to determine finalists)
    • Clear identification of customer needs/requirements
    • An innovative solution/approach to address the need
    • Sound marketing and sales concept
    • Reasonable business concept and revenue model (financial projections)
  • Written presentation, quality and style
  • Experience of team members and projected ability to implement the business plan

The Four Finalist Teams are then judged on their presentations and Final Business Plans.

Awards & Recognition

Those invited to present at the Award Ceremony will receive prizes in the form of certificates and gift certificates. The winning team will be awarded an allotment of seed funding as well as in-kind contributions.

All prizes will be presented at the Awards Ceremony. As mentioned, in addition to seed funding, the winning team will be augmented by in-kind contributions donated by the friends of the University. Such donations may include:

  • Office space for a period of one year
  • Printing service for business cards, stationery, brochures
  • Marketing services/consultation
  • Legal assistance
  • Accounting and tax assistance for one year
  • Communication services: web, phone.
  • Business consulting and mentorship, as needed.