Official Rules. Overview

Transcription

1 Official Rules Overview The first ever BTL Entrepreneurial Challenge seeks to identify and highlight entrepreneurs with new and exciting business concepts that can contribute and stimulate initiatives in the information and communication technology (ICT) industry. The competition includes activities such as training programs and field surveys that will allow participants the opportunity to refine their business model and entrepreneurial skills. Participants will be better prepared to bring their business concept to life before a judging panel at a closing showcase. Participants will also benefit from networking opportunities as they will engage in media appearances and interact with potential customers and business partners throughout the competition. At the showcase, one winner will be selected to receive BZ$10,000 startup funds to further invest in their business concept. Starting Oct 7th, 2015, BTL will engage participants in a series of developmental activities including: A 3 day Entrepreneurship Training Program Conducting field surveys for problem identification and product validation Presenting fieldwork findings and business models in a 5 minute video pitch and power point presentation Attending media appearances Partaking in a viewer s choice competition Making a final sales pitch (top 5 finalists only) Final sales pitch presentations will be carried out before a judging panel on November 25th, 2015 at a showcase, whereby one winner will be selected as the overall competition winner. Eligibility Requirements The competition is open to legal citizens of Belize. The competition is not open to the panellists of judges or their immediate family members, staff of BTL s Business Development Department or their immediate family members (i.e. husband, wife, brother, sister, son, daughter) or anyone who holds a current offer to do business with BTL. Can participate individually or as a group. Only two (2) persons from each group can participate in the 3-day Entrepreneurship Training Program. Business concept must be original and innovative. 1

2 Business concepts must support information and communication technology initiatives Business Concept must utilize or integrate BTL s services and/or network. Examples of qualifying business concepts include: Increasing efficiency in industries such as Manufacturing, Energy, Finance, Transport, Agriculture, Tourism, Retail, Aquaculture, etc. by improving a business process, system, etc.; improving security systems, facilitating e-learning and e-commerce, utilizing mobile services, using technology in Call Centers, offering location based services, etc. How to Enter The period for applying is from August 26th to September 20th, Participants can click here to register electronically Or click here to download a printable form. Application forms are also available at BTL Offices countrywide. Once filled out, application forms can be scanned and ed to bechallenge@btl.net or hand delivered to: BTL Entrepreneurial Challenge C/O Tanya Tillett Business Development Dept. Belize Telemedia Limited Regent Street, Belize City No payment of any kind is required to enter this competition. By submitting the application form on or before the registration deadline of September 20th, 2015 applicants acknowledge and agree to be bound by the competition rules. Once an application is submitted, it is final and may not be modified, improved or edited. It is the participant s sole responsibility to ensure that all information submitted is true, accurate and complete. The applications will be reviewed by Representatives from the Business Development Department from Belize Telemedia Limited and BELTRAIDE through the SBDCBelize, a unit of BELTRAIDE. To ensure that all criteria have been met for participation in the competition, qualified applicants must: Meet the Eligibility Requirements outlined above Submit a completed registration form by September 20th, 2015 Answer, as best as possible, all questions outlined in the registration form 2

3 After review of the registration forms, twenty (20) qualified participants will be contacted on September 25th, 2015 to participate in a 3-day Entrepreneurship Training Program from October 7 th to 9 th, The training program will be hosted by BELTRAIDE through the SBDCBelize, a unit of BELTRAIDE and will provide participants with presentations and lectures from qualified professionals. These qualified professionals will share knowledge and information that will assist all entrants in improving their business concept, developing their sales pitch, and preparing them for judging at the showcase. General Conditions By participating in the competition, participants agree to attend media appearances and permit BTL to use their names, likeness and/or photograph/video for marketing, promotional and awareness purposes in any media at no cost to BTL or remuneration for the entrants. Participants must cover all expenses in developing their business concept leading up to the showcase. By submitting an Entry, Participant(s) confirm that s/he/they own(s) all rights to submissions. Participants must express written permission to all images, sounds, and assets used in the creation of the application. Participants accept liability for any copyright infringements. Participants agrees to indemnify and release Belize Telemedia Limited and its respective affiliates, directors, partners, and any of their employees (collectively, the "Indemnitees"), harmless from any and all claims, damages, expenses, costs, and liabilities brought or asserted by entrants or any third party arising out of the use of any element of Participant s entry, or the Participant s conduct in submitting an entry, including but not limited to claims for trademark and copyright infringement, violation of an individual's right of publicity or right of privacy, or defamation. Participants are subject to verification, including without limitation, verification of eligibility and compliance with these Official Rules. If it is determined that the Participant does not have permission from the owner of content that is incorporated within the Participant's submission, the entry will be disqualified. If material submitted includes undesirable content, the submissions will be automatically disqualified. Belize Telemedia Limited has sole and exclusive right to reject any application or entry if the entrant has made it pass the application stage, at anytime, without liability for rejection of any application or submission. Entrants who are unsuccessful will be notified via . Upon submitting an entry, Participant's are deemed to have agreed that BTL may use your entry (whether or not it qualifies for the competition and whether or not it wins the competition) for any promotional purpose. Participants' confirm by submitting the application and entry that the entry is original and that he/she or it owns all intellectual property rights to the said entry and has exclusive rights to license or transfer such ownership of the same to BTL. The Participant further agrees to allow BTL use of the license rights of their business concept. In the event that any entrant, including the winner, would like to partner with BTL following the competition, an agreement will be required. BTL reserves the right in its sole and absolute discretion to disqualify any submission or entrant at the registration process or throughout the competition not in compliance with competition rules. 3

4 Entrepreneurship Training Program Participants will be provided with lectures and training from highly qualified business professionals from the SDBCBelize Unit of BELTRAIDE that will engage and share with them information, tips and advice to make them more knowledgeable and capable of running successful entrepreneurial ventures. The training program will be held over 3 days from October 7 th to 9 th, 2015 and will cover topics such as (but not limited to): Entrepreneurial Development Creating a Business Model Financial Planning & Resources Marketing & Sales Field Survey Participants will carry out field surveys for problem identification and product validation from October 12 th to 16 th, Participants will visit populated areas and conduct a needs analysis to find out what products or features will meet customer demand. They will collect all feedback possible on their proposed business concept. Participants can pitch their business concept to potential customers using a picture, video, prototype or actual samples. This activity will better prepare all entrants for judging at the showcase. Initial Sales Pitch On November 13, 2015 participants will submit via their first sales pitch. The initial sales pitch includes the following: Business Model PowerPoint Presentation 5-minute Video Pitch All the items above must reflect findings from the field survey. Submissions will be screened and five (5) finalists will be selected to make a final and formal sales pitch at the showcase. The top five (5) finalists will be announced and contacted on November 20th, Viewer s Choice Award Participants will produce a video clip highlighting and promoting their business concept. The video clip will be posted for public voting on BTL social media sites from November 16th to 20th, This video clip will also be used for marketing and promotional purposes. Video File Requirements: 1. Length of video should not exceed 45 seconds 2. File size should be no larger than 60 MB 3. Limit of one (1) video per entrant 4. Deadline to submit video is 13 November 2015 at 8am Winner from the Viewer s Choice Competition will be announced Nov 20th, 2015 via social media. 4

5 Showcase The selected five (5) finalists will be required to make a formal sales pitch to a judging panel on November 25th, 2015, which includes: Business model including investment plan 5 minutes PowerPoint presentation 5-minute Q & A Thereafter, one winner will be selected and announced. Judging Criteria Winner selection will be carried out by a judging panel determined by BTL and SDBCBelize. Judging will be carried out using the guidelines outlined below. Problem or Need - The entrepreneur(s) understands and is able to describe the problems or needs tackled by the business concept. Innovation - The entrepreneur(s) is able to provide a clear description of the technological basis of the business concept. Customer Segments - The entrepreneur(s) offers a clear description of the different customer segments towards which the business initiative is directed. Value Proposition - The entrepreneur(s) offers a clear description of the value and benefits provided by the proposed business concept. Sample of the Solution - The entrepreneur(s) offers a description of their product/service and presents the advancements in the development of their solution, showing the results of the testing, if any, with their potential customer segments. Size of the Market Opportunity - The entrepreneur(s) can communicate the size of the market potential of their business. Field survey and training program implementation - The entrepreneur(s) shows that they gained knowledge and insight from the facilitators and activities on the potential demand for their products, and improvements needed to increase sales, productivity or any other aspects. Cost flow/cost Structure The entrepreneur(s) shows that the processes included in the entrepreneur s overall operation are consistent and seem sustainable and profitable. There must be a clear indication of financial viability. Entrepreneurial Team - The entrepreneur(s) offer a clear description of the experience, skills and roles of the team members (if any). 5

6 Prizes The grand prize winner will receive $10,000 in start up cash to further develop their business concept. An invoice and receipt process will be used for distribution of funds. The winner must provide proof that funds are spent on the development and launch of their startup business. In the event that development and pay out of funds have already started and the entrant decides to no longer proceed with launch, s/he must transfer all exclusive rights of the business concept to BTL. Should the winning concept require connection to BTL s network for launch, BTL will provide complimentary connectivity valued at $50,000 and will require a revenue share agreement. The Viewer's Choice winner will be awarded $500. All cash prizes are in Belize Dollar. Substitution or transfer of prizes by winners is not allowed. About SDBCBelize The BTL Entrepreneur Challenge is supported by BELTRAIDE through the SBDCBelize, a unit of BELTRAIDE. SBDCBelize will host the three day workshop, as well as, offer one on one mentoring support to all participants throughout the competition. Representatives from SBDCBelize will also play a critical role throughout the selection and judging process. After the competition is closed, participants will be able to continue the learning process by working alongside and becoming a client of SDBCBelize. SDBCBelize is a unit of Belize Trade & Investment Development Service (BELTRAIDE), which provides customized needs-based services to micro, small and medium enterprises with the aim of facilitating their competitiveness and export readiness. To learn more about SDBC Belize go to August 26, 2015 v.1 Contact Us: Web: ( 6