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

register to become a contestant

Registration currently closed - please check back in fall 2019 for next year's event information
 

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.
  • Madison College employees and employees of sponsors are not eligible to enter contest.
Round 1

Round 1 - Executive Summary

Submission deadline

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

Selected business ideas will be pitched 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

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

Madison College Challenge event

Held at Madison College 

Up to 10 contestants will compete in a live pitch of their business ideas to win $5,000!

Round 3 - Final 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

If you plan to join us for lunch, as a contestant or guest, please complete lunch registration form below.

 

For more information, email us at madisoncollegechallenge@madisoncollege.edu.