The LaunchTown™ Entrepreneurship Awards 2012
Business Idea Competition
Fostering Innovative Ideas & Student Entrepreneurs
LaunchTown has presented over $100,000 in cash and service prizes since establishing the LaunchTown Entrepreneurship Awards in 2006. LaunchTown is Northeast Ohio’s top annual event at which venture and angel investors come to hear the region’s best business ideas and meet students of all majors. With a focus on technology from graduate student led teams, the emphasis of the competition is on novel and exciting student-driven business ideas rather than full-scale business plans.
Student teams must be comprised of one graduate student leader, and at least one undergraduate student. Total team membership should be 2-5 people and one faculty mentor. In order to participate, teams must complete the online “intent to enter” form at www.launchtown.com.
The 2012 competition will be based on a science/engineering/technology essay describing the team’s business idea (maximum of 5-8 pages; brief appendices allowed). The essay must include the technology concept, the business case and the commercialization vision. The 3 – 5 highest ranked teams will be asked to make a public presentation at the competition finals.
The judging will be based on the following criteria:
- quality of the idea (50% of the total score – based on uniqueness of the concept, strength of the business case, with an emphasis on the potential impact on Northeast Ohio , and viability/likelihood of commercialization).
- marketability of the business (25% - including identification and ownership/control of any IP, market estimates and strategy).
- essay/presentation quality (25%).
Judging will be by the LaunchTown Leadership Team and outside judges having experience working with startups.
A total of $10,000 in cash prizes plus business development consultation from area professionals will be awarded to the competition winner(s). Finalists will be expected to present their business idea live at The LaunchTown™ Entrepreneurship Awards on April 16, 2011.
The following NEO Universities are participating in 2012: The University of Akron, Case Western Reserve University, Kent State University, Cleveland State University, and Youngstown State University.
Students and professors should follow contest developments and announcements on our website at www.launchtown.com. Follow us on Facebook.
2012 Competition dates:
Competition commences: October 17, 2011
Deadline for submitting “intent to enter” at www.launchtown.com : January 31, 2012
Business idea essay submissions due (sent to Launchtown directly): March 7, 2012
Final competition and awards at the University of Akron’s Martin Center: April 16, 2012
LaunchTown™ Mission Statement
The LaunchTown™ Entrepreneurship Awards and Leadership Team is committed to fostering the entrepreneurial spirit in Northeast Ohio's 150,000+ university and college student population. LaunchTown’s mission is to create an enhanced awareness of the importance and potential of robust entrepreneurial activity, and to celebrate the extraordinary creative talent already in our region. With the support of LaunchTown’s “Business Idea” competition and connections to professional, technological and financial collaborators, we intend this entrepreneurial activity will lead to continued new business creation. Ultimately, through this collaboration we seek to retain our best young talent in the region, build a more vibrant economy and enhance the real-world education for our region’s most innovative and entrepreneurial students.