The business plan competition is designed to help and reward students who want to pursue an innovative business idea, develop a technology into a marketable product, or have a new approach to a difficult problem or compelling opportunity. The finalists will have the opportunity to showcase their ideas to entrepreneurs, investors and venture capitalists and receive valuable feedback on their ventures.
The objective of the challenge is for student teams to conceptualize an innovative product or service, and create a business plan for the product/service’s commercialization. Competition judges are entrepreneurs, C-level executives, and investors who volunteer their time to meet with students who are interested in marketing their new innovative ideas.
- Competition Organizer
North American Professionals & Entrepreneurs Council
- Local US Event
- New York, NY
- *Available in all states*
- Submission Date
- Business Plan Submission Date
- Awards Date
- Total Prize Cash (US Dollars)
- Competition Category
- Graduate - Local U.S.
- Graduate - All U.S.
- Undergraduate - Canada
- Undergraduate - Local U.S.
- Undergraduate - All U.S.
- Business - Canada
- Business - Local U.S.
- Business - All U.S.
- Graduate - Canada
- Social Entrepreneurship
- Technology - Green
- Technology - Other
- Women or Minority-owned
- Business - Global
- Graduate - Global
- Undergraduate - Global
- Who's Eligible
1. The NAPEC Innovation Challenge is open to any student, 18 years of age or older, enrolled in and attending an accredited college or university at the undergraduate or graduate level. The Challenge is also open to recent graduates (specifically, within 1 year of graduating).
2. Individuals may be a member of only one team. Teams consist of at least one student. Teams consisting of 2 to 6 students are highly recommended. Cross-disciplinary teams are strongly encouraged.
3. If the new venture has already received funding from any outside sources (angel investors, other competitions, etc.), amounts, investors, and dates of funding must be disclosed in the initial entry (Overview phase). This competition is intended only for student teams which have not received any outside investment from venture capital firms, and which have received less than a total of $100,000 in outside investment funding as of December 31, 2013.
4. All team members must certify that all work submitted in the business plan is ORIGINAL to the team, exclusively.
5. Submitted ideas are protected in the spirit of non-disclosure, where all entry materials will be treated as company confidential. The only persons with access to the entry materials will be judges and select members of the organizing committee. Materials will not be distributed to any other party, unless requested by entrant team. No other or special provisions are made to protect intellectual property.
6. Finalist teams must be present for judging and award ceremony.
7. Final business plans may not exceed 25 pages in length based on a document that is double spaced, 12 point font with one inch margin (including cover and text), the appendices may not exceed 10 pages in length.
8. Prize money is granted only to the business entity that the winning team forms, e.g. a corporation or LLC. Winning teams will have until December 31st, 2014 to form their business entities.
- Important Dates
Semi-finalists will be notified on March 24th, 10:00am EST and finalists will be notified on March 31st, 10:00am EST.
The panel of judges will announce the prizes at the end of Innovation Gala at the NAPEC Innovation conference in NYC on April 12th, 2014.
- Competition Prizes
1st prize: $10,000
2nd prize: $5,000
3rd prize: $2,500
Best App Idea: $1,500
Greenest Idea: $1,000
World Innovation Forum Prize: ticket to WOBI 2014 (value of $2,500)