FAQ

Submission deadline for CU NVC IV: 12:00am, Thursday, March 8, 2012

What should your NVC submission include?

NVC consists of four tracks and a general category for business ideas not fitting into one of the four core tracks. Sponsors from across campus sponsor the NVC tracks to provide unique opportunities for students to develop ideas in areas including: cleantech, music and arts, social impact and IT.

Each track has specified a competitive format best suited for businesses in each respective track.

Complete submissions will include:

Cleantech: 1) a two-page executive summary of a new venture plan, 2) a creative demonstration of the product or service (details will be posted by Jan. 15), 3) bios of team members, and 4) the Waiver/Release and Originality of Idea.

IT: 1) a two-page executive summary of a new venture plan, 2) a creative demonstration of the product or service (details will be posted by Jan. 15), 3) bios of team members, and 4) the Waiver/Release and Originality of Idea.

General: 1) a two-page executive summary of a new venture plan, 2) a creative demonstration of the product or service (details will be posted by Jan. 15), 3) bios of team members, and 4) the Waiver/Release and Originality of Idea.

Music: 1) a business plan, up to 20 pages in length plus 10 pages for appendices, 2) bios of team members, and 3) the Waiver/Release and Originality of Idea.

Social Impact: 1) a business plan, up to 20 pages in length plus 10 pages for appendices, 2) bios of team members, and 3) the Waiver/Release and Originality of Idea.

For judging purposes, all final submissions must include a digital copy of all documents. Detailed instructions for how teams will submit materials will be available beginning January 15, 2012.

What is the Competition Schedule after submission of a new venture plan and how do the teams compete?

After receiving new venture plans, each NVC track will assemble separate panels of judges to evaluate submissions. By March 13, each track will invite four of the submitting teams to give a presentation to live judges during the week of March 19. The top team from each track will then present in a live finals round on April 5.

The top two teams from each track will also be invited to present in the NVC Pitch Party & Awards on April 5, where the pitch winner and finals winner will be announced.

The five teams selected for final competition on April 5 will be invited to 1) present to live judges for 20 minutes, followed by 20 minutes of Q&A; 2) attend a reception and present a 3-minute elevator pitch to the audience; and 3) be present for the awards announcement following the pitch presentation.

Who sponsors CU-Boulder’s New Venture Challenge?

  • CU NVC is produced by centers from across campus: Silicon Flatirons, The Deming Center for Entrepreneurship, The Center for Education on Social Responsibility & The Entrepreneurship Center for Music
  • With support from across campus: eShip (College of Engineering ), Atlas (the Alliance for Technology, Learning & Society), ITP (the Interdisciplinary Telecommunications Program) & CU Technology Transfer
  • And with generous community support from:  Zayo Group, Marsh Fischmann & Breyfogle LLP, GC Andersen Partners, LLC &  First Western Trust Bank

How are business plans judged?

  • This challenge rewards well thought-out concepts, creative approaches, due diligence in research, clearly written plans and engaging presentations. Judges score but do not rule ideas out for overall viability. For example, judges will not penalize teams for lack of experienced management. On the other hand, judges do not ignore flaws stemming from hasty research or oversight of obvious concerns or consequences. Criteria for judging plans are designed to meet the educational goals of CU NVC. These criteria offer the judges the flexibility needed to reward innovative ideas and strong effort. Generally, plans are judged on five categories. Each competitive track provides customized criteria aimed at ensuring the strongest ideas in each track receive recognition.

What are the judging criteria?

1) Quality of Writing, including:

  • Clear and engaging executive summary
  • Easy to follow; concise; writing is well-organized and clear
  • Brief / not dense; essentials jump off the page
  • Not overly technical, but with enough detail to illustrate the idea
  • For tracks requiring a complete business plan, these plans should be no longer than 20 pages in length – 10 for the plan and 10 for the appendices

2) Quality of Presentation (applicable only to finalists)

  • Ability to demonstrate the product or service in use
  • Content clearly and creatively presented
  • Compelling – gets your attention
  • Good but not overuse of visuals
  • Adheres to time limits

3) Concept / Vision

  • Clear goal expressed with realistic steps to achieve it
  • Utility / Appeal – does the concept address a real customer need?

4) Quality of Evidence and Research

  • First-hand research, including interviews with potential customers and industry experts
  • Research on competitors at multiple levels (other providers of product; substitutes)
  • Strong link between customer / competitor research and concept
  • Anticipation or responsiveness to customer demands / competitor advances

5) Plan Components:

Are the product/service description, marketing plan, finance plan, description of competitive advantage and growth plan:

  • Innovative?
  • (But also) Realistic?
  • Internally consistent? (Does the components make sense together?)

Bonus Points

This is an opportunity for judges to award extra points based on their experience.  A judge need not award bonus points.  Some possible reasons to award bonus points include:

  • This is a brilliant idea that addresses a real market need.
  • The parts fit together so well that it “just made sense.”
  • The amount of work by the team is evident and suggests future success.
  • It made this concept or team “fundable”.

Important Deadlines

January 18 – Bootcamp & Intent to submit

12am March 5, 2012 – Cleantech Venture Challenge submission deadline

12am March 8, 2012 – New Venture Challenge submission deadline

April 4, 2012 – Finalists submit presentations

April 5, 2012 – Afternoon: final presentation to live judges; Evening: pitch presentations & awards (celebration)

© CU New Venture Challenge
Developed by Phu Nguyen
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