Collegiate Business Concept Challenge : CBCC

Excellence in Entrepreneurship

Collegiate Business Concept Challenge

The Eastern Kentucky University College of Business and Technology, The Center for Rural Development, Berea College Entrepreneurship for the Public Good, Kentucky Highlands Investment Corporation, and Lindsey Wilson College announce the 12th Annual Excellence in Entrepreneurship Collegiate Business Concept Challenge. The competition invites business ideas from Eastern and Southern Kentucky university, college, and community college students to compete for cash awards and professional consultation. Contestants/teams with the top Excellence in Entrepreneurship Collegiate Business Concept Challenge concepts will be selected to discuss strategies for their ideas with entrepreneurs and business professionals and be eligible for a cash prize up to $1,000. A monetary award will be provided to the contestant(s) or team(s) with the top concept as determined by a panel of judges. A $250 award will be awarded to the faculty advisor/sponsor and a trophy will be presented to the school of the winning team.

The business concept should provide a thoughtful investigation into a new business idea. The following focus categories are being sought for this year’s concepts: 1) Agriculture; 2) Energy; 3) Healthcare; 4) Technology; and 5) Tourism. Ideas should be innovative, yet sensible. The idea must be an original business concept suggested by the student(s). It can be a product, service, or social venture. A general outline for the concept criteria and judging guidelines are provided at www.kyean.org by clicking on the featured CBCC link on the home page. If you would like to compete for an award for an existing business, and will be no older than 25 years of age on June 1, 2015, then you may apply for the Young Entrepreneur Award category of the EIEA program. More details for this award will soon be available at (www.kyean.org).

The business concept submission should not exceed 5 pages, but may include reasonable appendices in excess of the 5 pages. The concept must be submitted electronically by February 27th, 2015. Team submissions are encouraged. The individual students or student teams must have a faculty sponsor from their school. Business concepts are to be based in Southern or Eastern Kentucky to be eligible.


Key Dates

Friday, February 27 | Business Concept Due

 Subject: Collegiate Business Concept Challenge

thebusinesschallenge@yahoo.com

Friday, March 13 | Finalists Notified – The finalists and alternates will be notified for participation in the competition.

 

Friday, March 20 | Collegiate Business Concept Oral Presentation

The Corbin Center, 222 Corbin Center Drive, Corbin, KY   Time (TBA)

 

Monday, September 14 | Awards Presented

Excellence in Entrepreneurship Awards Ceremony

 The Center for Rural Development, Somerset, KY


For competition entry, the student or student team should email the competition application form and business concept to thebusinesschallenge@yahoo.com by February 27th, 2015. The faculty sponsor should email accompanying signed faculty sponsorship form to thebusinesschallenge@yahoo.com by February 27th, 2015. Questions about the competition and application process can be directed to Cassie Williams at (859) 622-2334. Late entries will not be accepted.

This competition is open to all full and part-time graduate or undergraduate students currently enrolled in an Eastern or Southern Kentucky public or private university, college, or community college. All business concept entries meeting the qualifying guidelines have an opportunity to win.

A team may consist of an individual or team of no more than four (4) students.  Faculty sponsorship is required and will be verified. Each student may be affiliated with only one business concept.

The winning concept could receive up to a $1,000 cash award which goes to the student entrant (individual or team). However, the judge’s panel may elect to split the cash award between top two contenders. A $250 cash award goes to the faculty sponsor of the team with the overall best concept. The school of the winning concept will be awarded a trophy. This is a win-win-win opportunity for you – the student, your faculty sponsor and your school. Monetary awards will be made at the Excellence in Entrepreneurship Awards Luncheon at The Center for Rural Development in Somerset, Kentucky on September 14, 2015.

Criteria for judging concepts will be focused on the inventiveness, feasibility and potential for development of the concept in Appalachia Kentucky.  Preference will be given to novel products or services in an emerging market. All finalists will give an oral presentation at the March 20th Challenge event. All members of each participating team are expected to attend the oral competition. Judging criteria information is included in the competition package.

The business concept submission must represent the original work of each contestant. The author(s) will retain all rights to the concept regarding its use at all times prior to and following the competition.  Due to the nature of the competition, organizers will not ask judges, reviewers or staff to sign non-disclosure statements for any participant. We will, however, make a good faith effort to preserve the confidentiality of the concept details.  Note: judges may consult experts in determining the feasibility of a concept.

Business concepts are not to exceed five (5) pages. But a reasonable number of appendices or supplemental material is allowed. Send an electronic copy of the final concept to the Business Concept Coordinator by 5:00 PM (Eastern Time), February 27th, 2015 to the email below.

thebusinesschallenge@yahoo.com
Subject: Collegiate Business Concept Challenge

Names of winners along with a brief description of their concepts may appear in Excellence in Entrepreneurship Collegiate Business Concept Challenge promotions. The coordinators reserve in its sole discretion the right to amend or change the contest, its rules or organization.