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Baiada Institute Incubator Competition

Incubator Competition

The Baiada Institute Incubator Competition is designed to help student entrepreneurs and their teams develop their business ideas, receive feedback and mentoring, and compete for cash prizes. It also provides opportunities for networking, brainstorming and development of future entrepreneurial opportunities.

Teams develop their ideas with guidance from business leaders who serve as mentors and judges. Additional assistance is provided through workshops held at the Baiada Institute as well as from faculty and staff at theĀ Close School of Entrepreneurship.

HOW TO PARTICIPATE

Teams must register a team leader, list team members and enter all submissions (starting in June 2017) through the competition website at baiada.startuptree.co.

A team can consist of one person, or as many people as needed by the team. The team must designate a team leader, who must be a degree-candidate (undergraduate or graduate) student at Drexel University or recent graduate (graduated no earlier than June 2015) of Drexel University.

COMPETITION FORMAT

2017 introduces a new competition format that provides for more education, interaction and presentation opportunities than prior competitions. The traditional business plan approach has been replaced with a three-stage competition that has the following key elements:

  • Stage 1: Individuals/teams will submit a max 5-minute video presentation, a completed idea assessment questionnaire and an executive summary. While all entries will receive feedback, a maximum of 25 submissions, as determined by the faculty and staff of the Close School of Entrepreneurship, will be accepted to proceed to Stage 2.
  • Stage 2: Accepted participants will be assigned to one of five competition tracks with five teams in each track. Participants will be presenting (in private) the morning of November 9th to a judging team who will then select one team from their track to proceed to Stage 3. Participants will also be required to practice their presentation and receive feedback from an assigned mentor team the afternoon of November 8th .
  • Stage 3: Maximum of five of the Stage 2 participants will present on stage the afternoon of November 9th . The top three will receive cash prizes.

Mentoring and pitch practice opportunities will be provided throughout the competition.

PRIZES

We are proud to offer the following prizes:

Cash prizes

  • First place: $12,500
  • Second place: $7,500
  • Third place: $5,000

In-kind services

  • A certain amount of free, in-kind legal, accounting, and other services will be provided to the winners. Details of those services will be announced.
  • Resident space in the Baiada Institute will be available for the top three teams.

Specialty prizes (awarded at the discretion of the Baiada Institute)

  • Up to two nutrition and/or environment focused ventures are eligible to receive an additional prize of $5,000 each. This prize has been generously donated by Jamie and Lisa Maguire.
  • The Paul H. Scheffler Jr. Endowed Prize Fund for Entrepreneurial Promise prize in the amount of $1,000 is designated for students in the Tau Beta Pi Engineering Honor Society who demonstrate high performance in the Baiada Institute Incubator Competition but who will not receive other monetary prize awards in the same competition.