Round 1: Form Fill Description and Video

Submission Deadline: 12:00 noon on January 31, 2018

“The process of distilling the essence of your business down to a page forces you to think hard, decide what's important, and discard things that aren't essential to the story line. By doing this, you develop a better vision of what your business is all about, and you become better at telling your story."

-Akira Hirai, founder and CEO of Cayenne Consulting, a firm that helps entrepreneurs develop business plans and financial forecasts.

Tracks

Submissions to the 2018 GW New Venture Competition will compete in one of three Tracks: New Ventures, Technology Ventures and Social Ventures. New Ventures are standard commercial ventures, and most submissions will compete in this Track. Technology Ventures are those that have a new proprietary technology, discovery or invention at its core. Technology Ventures will have some sort of intellectual property and generally have evidence of the feasibility of that core technology. Social Ventures generally have a transformative solution to a pressing need or social problem.

Online Entry

APPLY HERE | APPLY HERE -- Application to compete will open soon!

If you are eligible and would like to participate, you must first create an online profile to register. Profiles include basic information, including each team member’s affiliation with the George Washington University, and will be utilized to keep track of submissions as your team progresses through the selection process. This information will not be disclosed to any outside parties.

For an initial application, three things must be submitted by January 31, 2018:

  • Form Fill Description of the Venture
  • A Concise (50-words or less) Description
  • A 2-minute Video Presentation

Form Fill Description

  • Elevator Pitch/Company Purpose. What is your product or service or the purpose of your venture?
  • Problem. What problem/need/opportunity are you addressing? Who will be the customers/beneficiaries of your venture?
  • Solution. What is your solution? How is your solution different and better than the existing alternatives?
  • Revenue Model. What is your revenue model? How does money come into your venture?
  • Team. Who are the members of your team?
  • Why Should Someone Invest in Your Venture? Explain why you will be successful.

A Concise (50-words or fewer) Description

Each submission must include a concise, 50-word description of the venture.  In general, the summary should describe the venture’s product or service and the benefits it brings to a defined set of customers.  Templates for constructing concise summaries as well as examples of good summaries can be found here.

Video Presentation

The Video Presentation should describe your venture. The Video Presentation should address the same questions as the Form Fill Description, but be sure you use the Video to introduce the team to the judges and to show that you know how to tell your story in a convincing fashion. Samples of good videos from last year can be found here.

Your video presentation should be uploaded to YouTube or Vimeo, and you will submit the link to your video. Instructions on how to upload a video to YouTube are found here, and instructions on how to upload a video to Vimeo are available here.

Your video submission must not exceed 2 minutes in length.

The Round 1 application can be submitted at the Submit Your Idea section of the GW New Venture Competition website.

You must submit your application by 12:00 noon on January 31, 2018.

Participants who are chosen to advance to Round 2 of the GW New Venture Competition will be listed in the 2018 Quarter-Finalists section of this website no later than February 3, 2018. All decisions by the panel of judges are final.

Judge's Evaluation Criteria

Judges Criteria Round 1

In order to advance to Round 2 of the competition, Form Fill Descriptions and Video submissions will be judged on the following criteria:

Elevator Pitch/Company Purpose (10%)

What is your product or service or the purpose of your venture? 
 

Problem (20%)

What problem/need/opportunity are you addressing? Who will be the custormers/beneficiaries of your venture? 
 

Solution (20%)

What is your solution? How is your solution different and better than the existing alternatives?   
 

Revenue Model (15%)

What is your revenue model? 
 

Team (15%)

Who are the members of your team? What skills/experiences do they bring to the team? Does the team have more than one team member? Are the team members from different disciplines?
 

Why Should Someone Invest in Your Venture? (20%)

Explain why you will be successful.