Whether you have a business idea, product, service, app, or non-profit idea, this competition is for you! A total of $3000 in cash prizes awarded to teams with the best solutions!
Virtual resources are available in the form of videos, training websites, and other written resources to help the teams develop their ideas and prepare their pitches. Student teams will meet with members of the Dyer Center for consultations to receive advice and feedback. Pitch to a panel of judges on Tuesday, April 18th. Winners will be announced that evening.
Want to participate? Registration closes at midnight on April 8th.
6th Annual Big Idea Competition
The Dyer Center remains committed to supporting student innovators and entrepreneurs.
We are currently accepting applications until April 8thfor our annual business pitch competition.
Tuesday, April 18, 2023
2023 Big Idea Competition
Each Team must have at least 2 team members, but no more than 4.
The competition is open to full-time Lafayette College students.
You will have to provide a pitch deck, here is some important content for your pitch.
Provide a brief overview of your venture. What is the story behind your venture?
Tell us about the problem you are solving.
Why is it a problem and how big of a problem is it? Convince us that you are solving a “migraine” (i.e.,that this something people want to solve and that many people want solved).
Tell us about the customers who have this problem and how you’ll reach them.
How many people have the problem you are solving? What percentage of that market do you realistically plan to capture? What is the primary marketing channel you’ll use to reach those customers?
Tell us about the unmet need of these customers.
Are the people with this problem satisfied with the solutions already available? Have they tried other solutions and found them lacking? Given a choice between your solution and doing nothing, what will these people choose?
Tell us about your solution.
How does it work? What are the benefits to the people who will use it (i.e., don’t tell us about the features of your fertilizer, tell us about the benefits to the homeowner’s lawn)? Have a picture? Include it!
Tell us about your competitors.
What is the secret sauce that you offer that they don’t?
Tell us about any regulatory challenges and/or patent concerns, if any.
If these do not apply to your idea, please omit them. Provide us with summary financial information. What are your projected revenue streams and start-up costs? What might be your net income (revenue-costs), profit margins for the next year? Two years? Five? Provide us with as complete a snapshot of your start-up phase as possible.
Tell us about milestones for your venture.
What milestones have you already reached? What milestones do you plan to reach in the next six months? Year? Two years?
Tell us about you and your team.
Why are you and your team the right ones to launch this venture? Remember, you may not include any information about your school.