$100 Startup Challenge
The $100 Startup Competition is an opportunity for students to experience entrepreneurship through a three-week competition to build, grow, and validate a business opportunity starting with one hundred dollars.
Students apply through a simple survey answering questions about their team and business idea. 20 Teams will then be selected to participate. These teams will be given $100 VISA gift cards and 3 weeks to build a business that generates revenue. Teams are evaluated on team unity, networks/resources used, impact/customers reached, and sales.
The Center for Entrepreneurship hosts this competition to give a hands on approach to experience entrepreneurship and gain valuable insight. It is our hope students will stretch their current abilities, resources, knowledge, and connections to build a business model. We will then invest significantly in helping these students take their business model to the next level. What will you build with $100?
- 1st Place: $1,500
- 2nd Place: $1,000
- 3rd Place: $500
|October 2, 2018||Kickoff||6:00 pm, Huntsman Hall 320||Enjoy free food, hangout with friends, and learn the ins and outs of the $100 Startup Challenge.|
|October 13, 2018||Application Due||11:59 pm||Apply to receive one of twenty $100 gift cards. Submit your business idea (or current business) through an online form. Only one student on the team must be a current USU student (enrolled in 9 credits or more). All majors welcome!|
|October 16, 2018||Top 20 Teams Announced||The top twenty teams are announce at E club and receive their $100 gift gard. Now is the time to get to work!|
|November 6, 2018||Start-up Farmers Market||10:00 am - 2:00 pm, Huntsman Hall||After 3 weeks to build their businesses, students are evaluated on team unity, networks/resources used, impact/customers reached, and sales/revenue.|
|November 8, 2018||Top 5 Teams Announced||11:59 pm||The top five teams are announced electronically and prepare to pitch to a live panel of judges.|
|November 13, 2018||Final Pitches and $3,000 Awarded||6:00 pm, Huntsman Hall 320||Finalists pitch their businesses to a live audience and judges select prize recipients that night during E Club! You wont want to miss it.|
- Team must be led by a current USU student.
- No two teams can combine their $100 VISA cards.
- The business must have generated less than $7,500 in total sales.
- The competition finish is at the Start-up Farminers Marker on 11-6-2018 from 10am to 2pm. The business must be able to sell its product at and attend that event.
- Money may be spent as the entrepreneurs deem necessary to grow and establish their business opportunity.
- Money must be used toward the competition only – violators will be disqualified.
- If disqualified, the full $100 must be returned.
- Teams must track and turn in ALL receipts.
- Teams can spend personal money, but the $100 VISA gift card must be spent first.
- At least one team member, must attend orientation on October 16th, 2018 at 6pm in Huntsman Hall 320.
- Students' teams must complete weekly checkpoint check-ins each Saturday by 11:59pm local time.
- If you plan on selling food, at least one team member must have a food handler's permit and that member must be present during the selling event.