Competition

The competition will take place over two rounds during the fall semester.

Round 1: 

Students will complete an online application and submit a 3-minute video detailing their venture. 

• The application will consist of a description of the venture, individual/team information, and information relating to the entry requirements

• Video should be no more than 3 minutes in length. The format and content of the video are up to you, but you should answer the following questions (in any order): 

Problem Statement:

• • • • • Clearly define the problem or need your venture addresses.

        • Provide context to illustrate why this problem is significant.

Solution:

• • • • • Describe your venture’s product, service, or idea.

        • Explain how it effectively solves the problem identified.

Unique Value Proposition:

• • • • • Highlight what sets your venture apart from existing solutions.

        • Emphasize any innovative aspects or competitive advantages.

Market Opportunity:

• • • • • Outline the target market or audience for your venture.

        • Share key insights into the market size or potential growth.

Social Impact:

• • • • • Explain your solution's positive social, environmental, or community impact.

Business Model:

• • • • • Provide a brief overview of how your venture will generate revenue.

Traction and Milestones:

• • • • • Mention any progress or achievements your venture has made so far.

When ready, you can submit your idea for the competition on the Enter Here page. 

Round 2: 

A panel of judges will evaluate the submissions and select the finalists. Finalists will pitch their ventures live to a panel of judges. 

• This may be the same presentation from Round 1, or the team may make changes

• Judges will have the opportunity to ask the team questions after their pitch

• After deliberation, judges will select the winners and award the prizes.

Prizes: 

Prizes will be awarded as scholarships to the top three finalists:

1st Prize $3,000

2nd Prize $2,000

3rd Prize $1,000

Participation Requirements

The competition is open to all current Loyola University Chicago students.

• Students must be enrolled full-time in any of LUC's undergraduate or graduate programs

• Students may only enter the competition once

Competition Requirements

• Students may enter a for-profit, non-profit, or social venture 

• The venture may be an idea or an operating venture

• If an operating venture, the organization can not have earned more than $100,000 in revenue in 2022 and/or have raised more than $500,000 in outside capital

Confidentiality is not guaranteed in any way. Please do not include sensitive or confidential material in your Round 1 submission or your Round 2 final pitch. The Round 2 final pitch takes place in a public forum. Photos and Videos will be taken for promotional purposes.