Business Idea Competition

Format Requirements

• Submissions must be typed, 12-point font, 1-inch margins, single-spaced.
• Include a cover page listing: business name, team member name(s), major(s), and contact email.
• The written proposal should be 2–3 pages, not including the cover page.
• Use clear section headers (listed below) so judges can easily navigate your proposal.
• Submit your proposal as a single PDF file.

Submission Process

• Upload your PDF to the Business Idea Competition submission portal (link tbd).
• All submissions must be received by Monday, October 6th.
• Late submissions may not be accepted.

Team Composition

• Teams may consist of 1–3 students.
• Interdisciplinary teams are encouraged.
• All team members must be current KU students.

Required Content

Organize your proposal using the headers below. Suggested lengths are guidelines; some ideas may require more detail in certain sections.

1. Problem/Opportunity (2–3 sentences) What problem exists? Who is affected? Why does it matter?
2. Solution & Value Proposition (1 short paragraph) What is your business idea? How does it solve the problem? What makes it valuable?
3. Target Market / Market Analysis (~1/3 page): Identify your customer and describe their characteristics, needs, and behaviors. Support your claims with logic or simple data (e.g., “Approximately 30% of KU students commute daily based on parking permit data”).
   Note: Formal market research is not required, but avoid unsupported assumptions.
4. Competition & Differentiation (~1/3 page): Who else is addressing this problem? How is your idea different or better?
5. Marketing Strategy (~1/3 page): Explain how you will promote your product or service. Be specific about channels (social media, campus partnerships, local press, influencer outreach, etc.).
6. Business Type/Structure (2–3 sentences): State the legal structure (sole proprietorship, partnership, LLC, nonprofit, etc.) and briefly explain why it is appropriate for your concept.
7. Financing and Revenue Model (~1/3 page): Outline expected startup costs and identify funding sources (personal savings, loans, competition prize money, investors, etc.). How will you make money?
   Note: You do not need detailed financial projections,  just a clear explanation of how the business will generate revenue and what initial costs you anticipate.
8. Optional Supporting Materials: You may attach visuals, logos, charts, mockups, or other materials that strengthen your proposal.

Evaluation Criteria

Judges will evaluate submissions based on:

• Clarity and organization
• Feasibility of the business concept
• Creativity and innovation
• Understanding of the target market
• Strength of the marketing and financial strategy
• Overall potential impact

Please click here to view sample concept.

Your pitch deck should tell a clear, compelling story of your business idea. Keep it simple, visual, and focused. Remember that you will have ONLY five minutes to deliver your business pitch to a panel of judges.  Because of the time constraint, aim for no more than 7 slides. Below is the suggested slide flow.

1. Cover Page: Presenter(s) & Business name
2. Problem & opportunity (45 seconds)

• What pain point are you addressing?
• Who experiences it and why does it matter?

3. Solution & Value proposition (45 seconds)

• Describe your product/service?
• How does it solve the problem or fill a need/desire?

4. Market Analysis (45 seconds)

• Who is your target customer?
• What is the size of the opportunity?

5. Competition & Differentiation (45 seconds)

• Who else is addressing this problem?
• What makes your idea different or better?

6. Marketing Strategy (45 seconds)

• How will you reach your customers?

7. Revenue Model (45 seconds)

• How will you make money?
• What is your pricing model?
• If applicable, state how much funding you would need to launch your business?

8. Closing / Call to Action (30 seconds)

• End with a confident, memorable closing.

Presentation Checklist

• Is the problem clear and compelling?
• Did I explain how my solution works?
• Did I identify my customer and market?
• Did I explain what sets my idea apart?
• Did I include how the idea can make money?
• Are my slides visual and uncluttered?
• Did my presentation practice stay within 5 minutes?

1. Do I need a fully developed business or prototype to participate?
   No. Ideas at any stage are welcome,  from early brainstorming to a prototype to an existing small business. A short proposal outlining your idea, the problem it solves, and who it serves is enough.
   

2. Can I enter individually or do I need a team?
   You may enter individually or as part of a team. If you have a team, list all members on your submission.
   

3. What are the judges looking for?
   Judges evaluate:

• Creativity and innovation
• Feasibility (is the idea realistic?)
• Market potential (who needs this?)
• Differentiation (what makes it unique?)
• Clarity and quality of your written proposal and pitch
  

4. What happens if my idea is selected as a finalist?
   Finalists are paired with a mentor to refine their pitch. You will present to a panel of judges at the live event on Wednesday, November 18th.
   

5. Who can help me prepare?

• Faculty in the College of Business
• Workshops and prep sessions offered by the KU SBDC
• Peer mentors and entrepreneurship support staff

6. Are there prizes?
   Yes, cash prizes will be awarded to the top finalists. Prize amounts will be announced when the competition opens.
   

7. How do I submit my idea?
   Submit your proposal through the online submission portal.

• Submission link: [to be added]
• Deadline: Monday, October 6th
  

8. Do I need to be a business major to participate?
   No. Students from all majors are welcome, including  arts, sciences, education, music, liberal arts, and more. Diverse perspectives often lead to the most creative ideas.
   

9. Can I submit more than one idea?
   No. Students may submit one idea per competition cycle. If you have multiple ideas, choose the one you are most excited about or the one that has the strongest potential.
   

10. Will my idea be protected?
Your idea remains your intellectual property. Judges and mentors are professionals who respect confidentiality.