STARTUP CHALLENGE GUIDELINES Acceleration Track 2015 edition

Transcription

1 STARTUP CHALLENGE GUIDELINES Acceleration Track 2015 edition AMERICAN FOUNDATION FRIENDS OF ALLIANCE CENTRALE LYON - EMLYON 1. Purpose of the challenge The Startup Challenge aims at supporting young entrepreneurs projects that combine insofar as possible, scientific and business competencies. The goal is to reward the best venture creation (based on a list of criteria) with funding from the American Foundation Friends of Alliance CENTRALE LYON EMLYON, to develop the project. The selected projects will also be presented to potential investors and entrepreneurs in North America. For each category, three projects will be rewarded. 2. Eligible projects This second edition of the challenge is composed of two categories of projects: The business modeling category: this category targets junior projects developed by students or young graduates, and can be of anta or post venture creation phase (with a maximum of 3 years of venture creation); The early stage go to market category: this category targets projects that are more developed, with a maximum of 5 years of venture creation, therefore not necessarily young graduates. To be eligible to the challenge, any project must meet the following conditions: The venture creation project must have a real potential of achievement based on the business plan; The achievements and practical applications must be tangible (fundraising, plan to recruit partners, models, budgeting ); The projects must be well enough completed to be presented to potential investors; The challenge is not restricted to any business sector; Page 1/ 5

2 The venture creation projects may not be targeting the American market. It is only a recommendation; The project can be an end-of-studies project. 3. Eligible teams Every project must have at least two people on its team and utmost, three people. It is mandatory that the leader of the project should be a student or a graduate from École Centrale de Lyon, EMLYON Business School or the I.D.E.A. Program. Concerning the business modeling category, the project leaders must either be students or have recently graduated from École Centrale de Lyon, EMLYON Business School of the I.D.E.A. Program (within a 3 year framework). MBA participants are allowed to take part in this challenge. Young doctorate graduates are allowed to present their venture creation projects. It is not mandatory that the teams should be composed of participants from both schools and the I.D.E.A. Program. However, this guideline is strongly recommended. The jury will take into account the complementary competencies of the teams. Hence, the fact that a team is mixed (participants from both schools and the I.D.E.A. Program) will be considered as an added value and will give more credibility to the project. Teams that only have members from one school are not excluded from the challenge. It is recommended to such teams, for the challenge, to reinforce themselves with another student from the other school to capitalize on competencies. Page 2/ 5

3 4. Schedule 5. Awards a. Business modeling category The awards are the following: The three semi-finalist teams will have a privileged access to the North American network of the two schools; The best venture creation project will be awarded with a prize of $15,000 (USD) (loan on trust); The second and third teams will each be awarded with a prize of $2,500 (USD). The winning team will be granted a loan on trust. A moral contract will be set up with the winning team, who will have to present a progress report every quarter for two years to Michel Coster (Head of the EMLYON Incubator) or Sylvie Mira Bonnardel (Associate Professor at École Centrale de Lyon) depending on the school the participants come from to prove the right use of the funding. This loan will be without any obligations or Page 3/ 5

4 interests; it will represent a moral commitment to stay in touch with the American Foundation Friends of Alliance CENTRALE LYON EMLYON. If the venture creation project is successful within the following 5 years, the team will have the option to reimburse the funding to the American Foundation (all or a portion of the sum). It will be done as a donation to the American Foundation in order to make the challenge durable. The final phase of the challenge will take place in the fall 2015 in New York at the New York Forum of the American Foundation Friends of Alliance CENTRALE LYON EMLYON (the conditions of this pitch will later on be explained to the shortlisted teams). The American Foundation is committing to giving a global envelop of $12,000 (USD) to all 3 teams who will present their projects at the New York Forum to pay for their trip (flights, hotel and fees on site). Henceforth, every team will be given a $4,000 (USD) budget. The members of the team will decide how many of them will come to New York to present their project (one, two or three people). Utmost, 9 students will come to the New York Forum. b. Early stage go to market category The three best projects will be selected by a jury. They will be invited to the New York Forum but the trip will be at their expense. They will not be awarded with a financial prize. However, those three teams will be introduced to potential business partners and will have the opportunity to present their projects in front of the participants of the Forum. They will also be allowed to have a booth to develop their visibility. 6. Application The application must include: A brief biographical note of each member of the team, in English, explaining his/her personal motivation for the project and the answer to the question: how will you use the funding provided by the American Foundation Friends of Alliance CENTRALE LYON EMLYON? (1 page); An executive summary in English (1 page double-sided maximum); A business plan in English (20 pages maximum); When possible, a model (if the object of the venture creation is a product); A video in English presenting the project (3 minutes maximum); The application form duly signed. Applications are to be sent to Aurore Poirier at the following address: fondation.friendsofalliance@gmail.com who will centralize all the applications. The application is the same for both categories of projects. 7. Final date to send in application The selection of the shortlisted applicants will be based on the written applications, which must be electronically sent before April 17, Page 4/ 5

5 8. Language The executive summary, the brief biographical note of the team and the video must be presented in English. The business plan has to be written in English. The oral presentations for the final pitch will be done in English. 9. Jury Jury members will be graduates from École Centrale de Lyon and EMLYON Business School, who live in North America et who are part of the community of the American Foundation Friends of Alliance CENTRALE LYON EMLYON. The president of the jury is Joe Schulmann. For the selection of the final applicants coming to New York, if there is a need to decide between the remaining projects, a committee composed of Joe Schulmann, Marie-Hélène Steinman, Michel Coster and Sylvie Mira Bonnardel will take the decision. Joe Schulmann and Marie-Hélène Steinman will be representing the American Foundation Friends of Alliance CENTRALE LYON - EMLYON, Michel Coster EMLYON Business School and Sylvie Mira Bonnardel École Centrale de Lyon. 10. Communication Every venture creation project must be presented on the American Foundation Friends of Alliance CENTRALE LYON EMLYON s website. This will enable the projects members to potentially get in touch with graduates in North America and get some advice for their projects. Every team must send a one page presentation of their project, in English, to Aurore Poirier for the publication on the website Mentoring Every team applying to the challenge (both categories) will be assigned a mentor (with reservations that the American Foundation has gathered as many mentors as applicants). The mentors will be assigned, in the first place, to the shortlisted applicants selected for the final phase taking place at the Forum. The mentoring program will be presented to the teams after the final phase of the challenge. Contacts: Aurore Poirier, Manager, American Foundation Friends of Alliance CENTRALE LYON EMLYON: fondation.friendsofalliance@gmail.com Michel Coster, Head of the EMLYON Incubator, EMLYON Business School: coster@em-lyon.com Sylvie Mira Bonnardel, Associate Professor, École Centrale de Lyon : sylvie.mira-bonnardel@eclyon.fr Page 5/ 5