Ideas are worthless,
except for here.
$5,000 prize.$25,000 investment.
UNTIL REGISTRATION ENDS
Applicants Start Here
Our biggest problem is finding that ONE GREAT IDEA with a great plan behind it. Maybe you can help. We're looking for straight-forward, extraordinary and super scalable business ideas. This competition is completely "closed doors". None of the ideas will be made public and any submissions not selected as a winner will be disposed of immediately.
The winner will be paid $5,000 cash. We won't ask you to lift a finger after sending us the plan, unless you want to. If you prefer to do nothing and watch us work, you will receive a lifetime 5% equity position. For those of you that want to grind with us and build the business, you'll start at 5% and have the opportunity to build a much more substantial equity position along the way. We will put up an additional $25,000 seed round and you will work hand in hand with our powerhouse to develop and build the business.
This is a great opportunity for passionate founders and aspiring entrepreneurs to not only win a large sum of cash - but to work with a real company, see their idea get built, make real money, make mission critical decisions, earn a substantial equity position and learn a lot without taking on the debt, risk or stress involved in building a business from an idea alone.
Yes - most will say this is unconventional. Everyone in the VC biz will tell you ideas are a dime a dozen. They all say "ideas are worthless". Maybe they are, except for here.
CHECK IT OUT
Judges
Meet the panel of judges. Bootstrappers and serial entreprenuers that have worked with some of the world's most amazing brands and have collectively exited multiple businesses for millions of dollars. They are brilliant individuals that will work with you to refine and perfect your pitch.
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Michael Sherman
25K Startups
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Eric Lituchy
Phone.com (Former CMO)
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Ian Ippolito
vWorker
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Andrew Samwick
Dartmouth Professor
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Angela Stringfellow
AMEX
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Matt Callahan
Squash Bug
You bring the great idea, we'll bring the rest. 25K works with the best in development and marketing, has an insane network of top advisors and the funding required to scale quickly.
Submissions
Your written proposal should be no more than 3 standard A4 pages (PDF) and should answer the questions below in the order outlined.
Although it's not required, we strongly encourage everyone to submit a video pitch with their PDF. The video pitch will be used as part of the "brand story" and as a vehicle for product promotion if your concept is chosen. Keep the video between 30 to 60 seconds.
Don't worry about submitting a plan that only aims to become the next Google, Snapchat or Facebook. Your idea also doesn't have to be "something that doesn't exist yet". Startups can be very successful quickly simply by competing in an existing space when there's a significant competitive advantage.
1. Summary
What's the business and how does it work? Is it a service based business, a web based business, web and/or mobile application, brick and mortar or physical product?
2. Problem, Need, Desire or Innovation
Explanation of problem being solved, need or desire fulfilled, or innovation taking place.
3. Differentiation/Competitive Advantage
Explain what makes this unique or different from what already exists in the market. What's the competitive edge? Be specific.
4. Target Market
What's the group or demographic being targeted? Be specific. What's the $$ size of the target market?
5. Marketing Plan
Describe your plan to reach the target market. Please be very specific.
6. Revenue Model
How does your idea make money? (sales, subscription model, advertising, lead generation, etc.)
7. Profit Margins
What are the expected profit margins? What do you expect it to cost to fulfill the product or service?
8. Growth Strategy
Describe your plan to scale the business to profitability within the first three to six months using a maximum of $25,000 for marketing and advertising.
If the success of your idea is not based on profitability, please describe how you will measure success (such as a user base, # of downloads, non-paying subscribers, etc.) and how you will achieve critical mass.
9. Three Year Plan
How will the business reach $3MM, $5MM or even $100MM in revenues after the first three years? Sales? Exit plans? Please be specific.
10. Partnership Strategy
How will the business be scaled through strategic partners that already reach your target market in critical mass? Please explain and be specific.
11. Newsworthiness
Explain it’s newsworthiness. Why is Fast Company or the local news going to cover the story? What will the story be about? A headline or two will suffice.
Rounds
- 00
APPLICATIONS: by 01/15
Applications must be in by January 15, 2016.
- 01
SUBMISSIONS: 01/15 to 02/01
We will accept submissions from approved applicants via a secure web form to be provided.
- 02
FEEDBACK: 02/01 to 02/05
Twenty finalists will be selected. The judges will work with the finalists to refine and perfect their submission.
- 03
FINALS: 02/08 to 02/10
Applicants will deliver their revised proposals and winner(s) will be selected. Next steps will be revealed at that time.
Rules and Conditions
Any questions, email compete@25kstartups.com
Application Deadline
Applicants must be in by January 15, 2016 (extended for holidays by request). If accepted, you will hear from us within 48 hours from the date of your application. Use this link to apply.
Submission Deadline
Submissions must be in by February 1, 2016.
The Idea
One idea per entrant. Please do not submit multiple proposals.
As previously stated, don't worry about submitting a plan that only aims to become the next Google, Snapchat or Facebook. Your idea also doesn't have to be "something that doesn't exist yet". If you are competing in an existing space, that's fine. Make sure to explain the competitive advantage in your plan.
Submission Format
ONE GREAT IDEA 2016 will be 100% virtual and open game to anyone that wishes to apply. There will be no live pitch and no travel required. #01 will be limited to 100 approved applicants.
The final proposal should be in PDF format, a file no larger than 10 MB. It should be no more than 3 standard pages long.
A video pitch is not required but strongly encouraged. The video pitch will be used as part of the "brand story" and as a vehicle for product promotion if your concept is chosen. Keep the video between 30 to 60 seconds.
Proposals will be submitted privately and securely via a secure web form to be provided.
Non-Disclosure Agreement
This competition is completely confidential. To help protect the privacy of your business idea, all members of the jury, advisors and 25K staff have signed a Non-Disclosure Agreement (NDA). We will not share your proposal with anyone outside of the 25K Startups incubator. Additionally, your ideas will not be publicized at any time during or after the competition. If you are not selected as a winner, your materials will be disposed of immediately.
Entry Conditions
- Entries may only be in the form of an idea. As such, an idea that already has a functioning business associated with it will not be accepted.
- The Idea cannot have been submitted to any other accelerator or investor firm.
- The Idea cannot already have received funding or financing of any form.
- The Idea cannot have any legal form of incorporation.
- If the Idea is submitted by a team, the team must appoint a team leader or representative.
- The Entrant must not be an employee, contractor or family member of 25K Startups.
Prize
Between one and three winners will be selected per competition. Each winner will receive a check for $5,000, a 5% starting equity stake in the business, a seat with 25K Startups as a founder in the business and a $25,000 round towards the development of the idea.
Each winner will be fully involved in the development, marketing and operation of their concept and be given opportunities to increase their equity stake along the way. The winner will be paid the cash prize and receive their 5% equity for life even if they choose not to participate beyond the competition.
Either way, the winners will have an opportunity to work with a really amazing team - a group that has deep experience in building businesses and growing them - and will have access to funding when the business needs it most, without the traditional hassle.
Ideas submitted by winning Entrants will immediately become the property of 25K Startups and may not be used in any way shape or form thereafter by the Entrant without express written consent from 25K Startups. This only applies to winning entries.