Madison College Challenge

If you are dreaming of owning your own business or need guidance for your current business, take the Madison College Challenge! The Madison College Challenge is a three phase business plan competition organized by the Center for Entrepreneurship.

Finalists who make it to the third and final phase have a chance to win a $5,000 cash prize, brought to you by Summit Credit Union. This money will be awarded to an aspiring entrepreneur (or team of entrepreneurs) and designated for startup funding within the Madison College district.

The Madison College Business Plan Challenge was created to:

Inspire individuals to become entrepreneurs
Connect individuals with Madison College alumni, academic experts and private industry professionals
Help create new ventures, new knowledge and skill sets, new attitudes and new jobs
Provide a nontraditional source of start-up funding for aspiring entrepreneurs within the Madison College district.

Registration
Round 1
Round 2
Round 3: Final Pitch

Registration

register to become a contestant

Registration deadline: 3/10/2019

Executive Summary submission deadline: 3/11/19

Rules for registration:

Open to any credit or non-credit student that has been enrolled in a course between 2017-2019 and has not already been a Madison College Challenge finalist
Contestants may enter as individuals or as part of a team
Contest is for creation of a new business
Once registered, contestants will be added to the Madison College Challenge Blackboard site for further communication and directions.
Contestants are required to meet with an Entrepreneur in Residence to work on their executive summary.

Registration

Not ready to register yet? Please join us for

Lunch & Learn - Madison College Challenge Info Session with Jill Huizenga

Thursday, February 21
11:30 a.m. - 12:30 p.m.
Truax Campus, E1874

Come to this workshop to receive information for best practices. We will review deadlines, talk about helpful tips and share best practices. If you want to participate in the Challenge, but have some questions or want to know more detail, this is a perfect workshop for you.

Register

Round 1

Round 1 - Executive Summary

Submission deadline 3/11/2019

After registration, contestants are eligible to participate in round 1. During round 1, contestants are required to submit an Executive Summary.

Round 1 - Executive summary Rubric

Introduction: What is the business name?
Organizational Plan: Who is the founder and what is the relevant startup information?
Product/Service Plan: What is the product or service and it's features and benefits?
Marketing Plan: What problems are you trying to solve and for whom?
Financial Plan: What are the startup costs and potential sources of financing?
Conclusion

*This is not all inclusive

*Complete template and rubric is available upon registration

Round 2

Round 2 - Internal/Preliminary Pitch

Held at Madison College on 4/1/2019

Up to 20 business ideas will pitch their idea to internal judges at Madison College.

Out of this process, up to 10 will be selected for the final pitch at the Madison College Challenge event on 5/3.

Round 2 - Internal Pitch rubric

Introduction: Who are you and what is your business name?
What is the problem you are trying to solve?
What is your solution and what value does it bring?
Who are your customers?
Where does the money come from?
What does your financial forecast look like?
What resources do you currently have?
- Money, partners, space, talent, volunteers, etc.
Conclusion

Round 3: Final Pitch

Round 3 - Final Pitch