Baylor New Venture Competition 2022

Deadline
November 01, 2021

Opportunity begins:

Mar 24, 2022

Opportunity ends:

Mar 26, 2022


Featured Recent Similar

Events

Competitions Business Plan

Location (s):

  • Online
  • United States of America
Baylor University Waco, Texas

Overview

The Baylor New Venture Competition is underwritten by an anonymous gift to Baylor University and the Hankamer School of Business. The differentiator in the Baylor New Venture Competition and other competitions is the focus on encouraging student entrepreneurs worldwide to catalyze and grow their business.

Details

Applicants will receive expert advice throughout the competition cycle.

  • Executive Summary Feedback
  • Business Plan Feedback
  • One-on-One Mentorship
  • Rounds of Pitch Coaching
  • Feedback Sessions
  • Final Presentation Feedback

The day of finals will include pitch presentations with Judge Q&A, networking, booths, audience participation and awards.

The Baylor New Venture Competition is successful because of the support from hundreds of experienced entrepreneurs, business leaders and sponsors.

Competition format

Below is a brief description of how the rounds take place as the applicant pool is narrowed during the course of the competition:

  • Round 1: Executive Summary (Online)
    Teams submit a two-page Executive Summary of their business concept and verification of student status. Entries must be received by 11:59 p.m. Central Time on November 1, 2021. The top-50 teams will be notified of advancement to the next round.
  • Round 2: Business Plan (Online)
    The top-50 teams will submit a full business plan, cap table, verification of establishment of a legal entity and tax forms by 11:59 p.m. Central Time on January 17, 2022. The top-10 finalist teams will be assigned a mentor and will compete in the finals at Baylor University.

  • Live Presentation Rounds at Baylor University in Waco, Texas

  • Pre-Competition Activities (Thursday and Friday)
    Thursday, March 24, 2022: Individualized, in-depth coaching sessions
    Friday, March 25, 2022: Kickoff events and feedback sessions

  • Finals (Saturday Morning)
    Five of the top-ten finalist teams will be randomly chosen to present to a panel of judges. Judges will score each team and will record feedback comments.

  • Finals (Saturday Afternoon)
    The remaining five teams will present to the panel of judges. Judges will score each team and will record feedback comments.

  • Judging Review and Final Scoring
    Judges will review presentations and will finalize scoring. Award winners will be announced at the Awards Banquet on Saturday evening.

  • Elevator Pitch Competition during Awards Banquest (Saturday Evening)

    • Round One
      A member from each team will present their 90-second pitch for audience polling. The top four teams will advance.

    • Round Two
      A different member from the top-four teams will present their 90-second pitch for audience polling. The top-three winners will be chosed according to the number of votes from the audience.

Important Dates

Please note that all submission deadlines are firm. 

  • September 1, 2021 Entry Period Opens
  • November 1, 2021 Executive Summary Deadline (11:59 p.m. Central Time)
  • December 10, 2021 Announcement of Top-50 Teams 
  • January 17, 2022 Business Plan Submission Deadline (11:59 p.m. Central Time)
  • February 18, 2022 Announcement of Top-10 Finalist Teams
  • March 24-26, 2022 Baylor New Venture Competition at Baylor University

Opportunity is About:


Eligibility

Candidates should be from:

Description of Ideal Candidate:

2022 Eligibility

The 2022 Baylor New Venture Competition is open to all not-for-profit accredited university students and recent alumni. There is no limit to the number of teams from a single university that may apply.

Team Rules

Competition student teams must:

  • Be composed of 2-4 currently enrolled students (undergraduate or graduate) or recently graduated alumni (must have graduated within the previous 18 months of the executive summary submission deadline) from an accredited not-for-profit 4-year university. However, each competition team must have a minimum of one member who is a currently enrolled full-time student. “Current” refers to the date of submission of the executive summary.
  • Designate one person on the team to be the team lead. This team member will be the only point of contact with the Baylor New Venture Competition.
  • Submit documentation verifying their status as students or recently graduated alumni at the point of submission of the executive summary. National Student Clearinghouse verification is the preferred method of authentication. Non-students may be involved with the company outside of the competition but may not be a part of the competition team (i.e. may not present or answer questions for the team). Combine the documentation into a single PDF and submit the file as BNVC_CompanyName_UniversityName_Status.pdf.
  • Have “C-Level” positions within the company.
  • Have fundamental, equity-holding positions within the company and, on November 1, 2020, must have a combined ownership of no less than 25% of the total fully-diluted equity, assuming conversion of all rights that can convert into equity. Each competition team’s business must be set up as a legal entity at the point the team reaches the business plan submission round of the competition. A current fully-diluted capitalization table must be submitted at this point also and attested by each competition team member. Please save as file name: BNVC_CompanyName_UniversityName_Cap.pdf. If there are any changes to equity distribution during the course of the competition, a new fully-diluted capitalization table, attested by all competition members, must be submitted to newventurecomp@baylor.edu within 48 hours of the change. Sole proprietorships are not eligible. Ventures must be for-profit, early stage, and potentially at the point of asking for investment capital. This does not typically include buyouts, entity expansions, funds, franchise purchases, not-for-profits, and spin-outs. Businesses must not be subsidiaries or recapitalizations.
  • Be composed of students who are members of only one current Baylor New Venture Competition team. Non-finalist competition teams are eligible to participate in future competitions.
  • If selected as finalists, a team must confirm attending competition team members no later than 2 weeks prior to the competition days on campus at Baylor University. Failure to confirm team members or subsequent changes/additions/subtractions in team composition after this 2 week mark may result in team disqualification.
  • In the event that a team fails to honor their commitment to participate in the on-campus competition, their school (or other affiliated entity) may be ineligible from competing in the future. This decision will be at the discretion of the Rules Committee.
  • Confirmed finalist teams must be complete and present during the entire competition period and at the time of the prize presentations in order to be eligible for prizes. Teams may not add or substitute presenting team members during the Final Rounds and NVC Elevator Pitch Competition.

Business rules

All competition student team businesses must:

  • Be for-profit, early stage, and potentially at the point of asking for investment capital. This does not typically include buyouts, entity expansions, funds, franchise purchases, not for profits, and spin-outs. Businesses must not be subsidiaries or recapitalizations. Prior to the business plan submission deadline on January 4, 2021, no more than $250,000 of equity capital can be raised other than equity investments from friends, family, and competition team members.
  • Submit proof of establishment of a legal entity no later than the deadline for submission of the round-2 business plan, January 4, 2021. Each competition team will be required to provide a W-9, W-8BEN-E or other country-appropriate tax documentation for their legal business entity at the point of submission of their business plan. Please upload as BNVC_CompanyName_UniversityName_Tax.pdf. A current capitalization table must be submitted with the business plan and attested by each competition team member. If there are any changes to equity sharing arrangements during the course of the competition, a new cap table, attested by all competition members, must be submitted to newventurecomp@baylor.edu within 48 hours of the change.

Dates:

Deadline: November 01, 2021

Program Starts: March 24, 2022

Program Ends: March 26, 2022


Cost/funding for participants:

Tentative 2022 Competition Prize Packages

Monetary and in-kind awards will be given to each team that makes it to the final round of the competition. Possible awards are as follow:

Business Plan Competition

Please consult the Official Guidebook document, page 11, for details concerning monetary awards.

  • First Place
    • $50,000 Cash
    • $120,000 in IBM Cloud Credits provided by IBM Premium Level for Startup with IBM program
    • 1 Year of Free Unlimited Web Hosting with SSL provided by Enspir Solutions, LLC
    • Opportunity to present to the Baylor Angel Network
    • TEN Capital Fundraise Package featuring document templates, resource lists, terms sheets dataroom checklists, metrics, and more for preparing your fundraise with accredited investors. 
    • 1 year of co-working space provided by the Addison TreeHouse, powered by The DEC
    • 4 hours strategy and marketing consulting provided by Four Columns Marketing
    • 6 hours of free IP legal services to prepare a U.S. Provisional Patent Application for the recipient team by Austin technology law firm Hunt Pennington Kumar & Dula
    • 2 one-hour sessions covering Business Plan / Market Review and Fundraising /Term Sheet guidance provided by Lavni Ventures
    • Complimentary QuickBooks Online Plus 12-month trial licenses provided by Intuit Quickbooks
    • Complimentary vouchers to take either the QuickBooks User Certification exam or The Entrepreneurship and Small Business (ESB) exam for each student provided by Intuit Quickbooks
    • Complimentary Professional QuickBooks ProAdvisor accountant virtual session on “Getting Your Company Setup” within your QuickBooks Online licenses Provided by Intuit Quickbooks
    • Advisors receive complimentary, non-expiring QuickBooks Online Accountant cloud software provided by Intuit Quickbooks
  • Second Place
    • $25,000 Cash
    • $120,000 in IBM Cloud Credits provided by IBM Premium Level for Startup with IBM program
    • 1 Year of Free Unlimited Web Hosting with SSL provided by Enspir Solutions, LLC
    • IP Protection & Trademark Consulting offered by HULSEY PC
    • TEN Capital Fundraise Package featuring document templates, resource lists, terms sheets dataroom checklists, metrics, and more for preparing your fundraise with accredited investors.
    • 6 months of co-working space provided by the Addison TreeHouse, powered by The DEC
    • 4 hours strategy and marketing consulting provided by Four Columns Marketing
    • Complimentary QuickBooks Online Plus 12-month trial licenses provided by Intuit Quickbooks
    • Complimentary vouchers to take either the QuickBooks User Certification exam or The Entrepreneurship and Small Business (ESB) exam for each student provided by Intuit Quickbooks
    • Complimentary Professional QuickBooks ProAdvisor accountant virtual session on “Getting Your Company Setup” within your QuickBooks Online licenses provided by Intuit Quickbooks
    • Advisors receive complimentary, non-expiring QuickBooks Online Accountant cloud software provided by Intuit Quickbooks
  • Third Place
    • $10,000 Cash
    • 1 Year of Free Unlimited Web Hosting with SSL provided by Enspir Solutions, LLC
    • IP Protection & Trademark Consulting offered by HULSEY PC
    • $120,000 in IBM Cloud Credits provided by IBM
    • TEN Capital Fundraise Package featuring document templates, resource lists, terms sheets dataroom checklists, metrics, and more for preparing your fundraise with accredited investors.
    • 6 months of co-working space provided by the Addison TreeHouse, powered by The DEC
    • 4 hours strategy and marketing consulting provided by Four Columns Marketing
    • Advisors receive complimentary, non-expiring QuickBooks Online Accountant cloud software
    • Complimentary QuickBooks Online Plus 12-month trial licenses provided by Intuit Quickbooks
    • Complimentary vouchers to take either the QuickBooks User Certification exam or The Entrepreneurship and Small Business (ESB) exam for each student
    • Complimentary Professional QuickBooks ProAdvisor accountant virtual session on “Getting Your Company Setup” within your QuickBooks Online licenses
  • Honorable Mention (4th - 10th)
    • $1,500 Cash
    • 1 Year of Free Unlimited Web Hosting with SSL provided by Enspir Solutions, LLC
    • TEN Capital Fundraise Package featuring document templates, resource lists, terms sheets dataroom checklists, metrics, and more for preparing your fundraise with accredited investors.
    • Advisors receive complimentary, non-expiring QuickBooks Online Accountant cloud software
    • Complimentary QuickBooks Online Plus 12-month trial licenses
  • Top-50 Competitors
    • AWS In-Kind | $1,000 in AWS Credits valid for 2 years (up to $100,000 as startup matures)
    • AWS In-Kind | 1 year AWS Business Support (up to $1,500)
    • AWS In-Kind | 80 Credits for Self-Paced Labs
  • All Applicants
    • $120K in cloud credits with Standard Startup with IBM program offer
    • Exclusive Invitation to Indie Do Good Webinars: Getting Ready to Launch and Ideas to Reality
  • Lavni Ventures’s Choice
    • 2 One-Hour sessions covering Business Plan / Market Review and Fundraising /Term Sheet guidance provided by Lavni Ventures
  • Baylor Angel Network Analysts' Choice
    • Up to 4 hours of free pitch deck consultation by the Baylor Angel Network Student Analyst team

NVC Elevator Pitch Awards

  • 1st Place - $1,500 cash
  • 2nd Place - $1,000 cash
  • 3rd Place - $500 cash

Oso Launch Elevator Pitch Competition Awards

  • 1st Place - $1,000 cash
  • 2nd Place - $500 cash
  • 3rd Place - $250 cash

Start Up Waco Award $10,000+

Baylor Entrepreneurship Department and Startup Waco have developed a unique 3-week accelerator for which any Baylor New Venture Competition Team in the Top 50 is eligible to be considered. This all-expense paid opportunity will include a cash grant of $5,000, and cover all travel, housing, and food costs, as well as exclusive, curated experiences throughout Central Texas. The program will focus on access to additional Angel and VC funding networks, pro bono support from local service providers, and carefully selected introductions to local and national strategic partners to boost the venture’s development, launch and growth. Invitations will be awarded to three participants based on distinction of the business plan and strategic alignment with local stakeholders.

Find your Dream Opportunity Abroad!

Search from 5672 opportunities in 176 countries