Deadline: 7-Feb-22
Applications are now open for the 2021-22 Utah Entrepreneur Challenge (UEC), one of the largest student business model competitions in the nation, open to all college students in Utah.
All university and college students throughout Utah are encouraged to compete. This competition is made possible by generous support from sponsors, mentors, judges, and faculty members from colleges and universities across the state.
The program is managed by the Lassonde Entrepreneur Institute at the University of Utah and sponsored by Zions Bank.
Components
The business model is split into three components in the Utah Entrepreneur Challenge:
- a business model submission,
- a video submission and
- the final live presentation during the UEC final event.
The top 20 teams will be chosen based on the judging results from the business model submission, and only the top 20 students will advance to rounds 2 and 3 of the UEC.
The UEC provides resources to aid students in the creation and implementation of their business model. Students gain valuable skills and experience to help them transition to the competitive world of entrepreneurship. Dozens of past teams from the competition have successfully moved forward and become successful businesses.
Benefits
- More than $60,000 of cash and in-kind prizes will be awarded amongst the contestants. Funds received from the UEC should be used for to advance the business idea.
- Prizes exceeding $10,000 must be awarded to a legally formed company, not an individual.
Eligibility Criteria
- Because the Utah Entrepreneur Challenge is a collegiate student competition, the student must take the lead in the submission and must play a major role in formulating the business. The UEC is a student business model competition and is based on the work of students. The UEC does not award ventures that are not formed and managed by students.
- Competing teams must be composed of at least one Utah college or university student and meet all of the following criteria:
- The team must be organized and directed by a student from a college or university in the state of Utah.
- The founding student must be an active student during both semesters of the competition year.
- The founding student must be registered for a minimum of nine (9) credit hours during the semester they are participating. The credit hours must be taken as a matriculated, admitted, and degree-seeking student.
- The student team members must be involved in all aspects of the UEC competition.
- The team must not have been a top-8 finalist in past Utah Entrepreneur Challenge competitions from previous years. (This eligibility requirement refers exclusively to the Utah Entrepreneur Challenge and does not include Opportunity Quest or any of the events hosted by the Lassonde Entrepreneur Institute.)
- There are no restrictions regarding other team members; however, they suggest building a balanced team with a strong combination of finance, marketing, engineering and technology skills.
- For existing companies:
- If the company has been registered in any state longer than 24 months as of Sept. 1, 2021, a brief history of the company is required in the application.
- The cumulative revenue, debt, grant or third-party financing for the company has not exceeded $100,000 prior to Sept. 1, 2021.
- An individual team may provide more than one entry; however, each business model must be registered separately.
NOTE: Rules and exceptions are up to the discretion of the Lassonde Entrepreneur Institute and Utah Entrepreneur Challenge representatives. Submission content must be appropriate for the student, judge, sponsor, and volunteer audience.
For more information, visit https://lassonde.utah.edu/uec