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2nd Annual Innovation Challenge

2nd Annual Innovation Challenge. Kick-Off and Overview Information Session #1 & #2 September 27 & 29, 2011 www.csulb.edu/innovationchallenge. Agenda: Kick-Off and Overview.     Competition Overview     Content/Format Requirements    Judging Criteria

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2nd Annual Innovation Challenge

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  1. 2nd Annual Innovation Challenge Kick-Off and Overview Information Session #1 & #2 September 27 & 29, 2011 www.csulb.edu/innovationchallenge

  2. Agenda: Kick-Off and Overview •     Competition Overview •     Content/Format Requirements •    Judging Criteria • Team Mentor Program •    Important dates • The Awards Event - Finalist Presentations

  3. Objective • Conducta unique contest to identify, evaluate, select, and seed innovative ideas that have potential for commercialization. • Stimulate students to pursue innovative ideas, learn how to create business plans, and reward the best of those plans with business-related services and seed funding.

  4. The Competition • Conducted annually • Open to all CSULB students • Each team prepares a business plan • Judging by professionals • The winning team(s) will receive: • Business related services • Seed funding

  5. Competition Rewards • Business-related services worth up to $40,000, based on availability: • Office space • Legal assistance • Printing services: business cards, stationery, brochures, … • Marketing services/consultation • Accounting and tax assistance • Communication services: web, phone, … • Seed funding of $10,000

  6. Competition Schedule

  7. Letter of intent • Submitform from websitebetween October 15, and December 2, 2011 Includes: - Business/technology area and the market description - Project team members - Other relevant information

  8. Business Plan Submittal • Due: February 17, 2012 • Submit to the Innovation Challenge email mailbox in pdf format. • Must be approved by the team’s mentor • Must adhere to the guidelines provided

  9. Proposal Package • Your Business Plan: • No more than 20 pages. That’ s everything, cover sheet and all… • Workshops: How to Write a Business Plan • Nov 4 - 10am-noon ECS 312 • Nov 9 - 4pm-6pm ECS 312 • Checklist will be posted on the website • Need help getting started? See these sites: http://web.sba.gov/busplantemplate/BizPlanStart.cfm http://www.bplans.com/ http://www.sb.gov.bc.ca/starting-a-business/business-planning

  10. Judging Criteria • Written business plan (evaluated to determine finalists) • Commercialization potential • Entrepreneurial and management experience of team members • Creativity of technology or business idea • Soundness of financial projections • Written Presentation and style • Presentations and final Business Plans for Finalists

  11. Team Mentors • Assigned once Letter of Intent is submitted • Each team may have two mentors, one from industry and one academic • Contact early and often. Advise the Innovation Challenge coordinator if trouble connecting. • Mentors must should off midway through the competition and MUST sign off the final business plan (an email to the challenge site) • Use their time wisely

  12. Finalist Presentations • Scheduled for April 3, 2012 am • Finalist teams will be invited to present • VCs, industry leaders, community leaders, advisory board and CSULB leaders will be invited • Good event for networking

  13. Final note… Send inquiries to innovate@csulb.edu Check this site regularly for guidance, updates and resources: www.csulb.edu/innovationchallenge

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