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Franz Center: $100K Business Plan Competition
|Frequently Asked Questions:|
What is the University of Portland $100K Challenge?
The $100K Challenge ($100K) is a business plan competition organized by the University of Portland.
Who is eligible to participate?
Teams must include University of Portland student(s) as an integral and fully participating member of the team. Students may in any undergraduate or graduate program and any major are welcome and encouraged to participate.
Business plans must an original work describing a new venture (profit or non-profit). If you have any questions, or would like to make sure your venture or plan is eligible, please contact the Center for Entrepreneurship at email@example.com.
Participants will be asked to declare their intention to compete in either the for-profit track or the non-profit track when the register online.
Why participate in the University of Portland’s $100K Challenge?
The $100K Challenge is a fantastic opportunity to develop and present a plan for a new business and meet many interesting and experienced entrepreneurs, investors and other professionals who may be helpful to you in pursuing your entrepreneurial or career ambitions. All participants will -be provided support in developing their plan and presentation through workshops and mentors, and receive great feedback from experienced judges.
This is a great way to “crash test” a plan for a business you are considering and improve your chances of success or fundraising. Even if you will not actually launch your business at this time, this is a great opportunity to learn the process of creating, presenting and updating a high quality business plan. These skills will also help prepare you to evaluate plans for products and businesses within another company or as a non-profit board member.
Those who advance to the finals of the competition will have the opportunity to receive a modest cash award and the potential of significant financial and in-kind services support for your new company.
How is the $100K organized?
All teams will present business plans during the morning sessions on April 27 before a panel of judges. Each presentation will be strictly timed and limited to ten minutes, followed by a five-minute Q&A session from the panel.
Teams will have the use of a computer and projector with internet connection. Audience members will not be allowed to ask questions during the presentation or Q&A period.
Where more than one morning grouping is needed for either of the two tracks (for-profit and non-profit) then finalists will be selected from the morning rounds to present in an afternoon final round. Judges will score each business plan and presentation to make final award decisions. The judges will determine first, second, and third place winners. Winners will be announced during the closing reception.
What are the awards and prizes?
The top three places from each of the two tracks (profit and non-profit) will be announced at the end of the event on April 27, 2013.
Finalists (top six presenters) in the for-profit track will be eligible for an investment of up to $100,000 (half cash and half support services) made by the Launch Pad Fund investment committee. Finalist teams will have up to nine months to negotiate terms and complete the investment process.
Finalists in the non-profit track will be eligible for a $2,500 grant and professional services award to assist in the launch or development of the non-profit made by the Launch Pad Fund non-profit committee. Winning teams will have up to nine months to receive this award, which must be made to an eligible 501c.3 organization (or have 501c.3 status pending with the IRS).
Cash prizes will be awarded to each team that places or makes the finals round. First place teams receive $250 per team; second place teams $100 per team; and third place teams and finalists receive $50 per team. These amounts are to be divided among teammates, as determined by the team leader.
There is also a special $3,000 cash prize for those business ideas that address the needs of low income senior citizens.
2013 Winner: Alex Calvert
This year's $100K Challenge will be held on April 26th, 2014. For application materials download the available forms on the right-hand side of this page.
To sponsor the $100K Challenge, please email Peter Rachor or call at 503.943.7769.