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Venture Cup |
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Venture Cup West is a business plan competition with the objective to stimulate entrepreneurship and to increase the founding of new companies in the western part of Sweden. The total prize money is 625 000 SEK, but the competition offers much more than just the opportunity to win money. If you have an idea, you simply cannot miss this great opportunity to make your dream come true! Venture Cup has exceeded all expectations. Last year the competition had 300 entries and already 110 new companies have been founded in the region and 230 new jobs have been created since Venture Cup was founded in 1998.
Competition Design
The focus is on innovative ideas with a large market and growth potential. The competition is divided into three steps and the final prize ceremony is in May 2005. Venture Cup is, through a broad program of activities and services, more than just a competition. We offer all participants inspiring events where entrepreneurs and venture capitalists meet, and specially adapted educational programs (many of them in English), a competition handbook, mentorship and jury evaluation with feedback. Hence, our activities in English are limited we appreciate and welcome participation from people, which do not have Swedish as mother tongue. Please consult the project team for additional guidance.
You can enter the competition in Step 1 or in Step 2. The teams which get involved from Step 1 have the best chances of developing their business idea into a great business plan. The sponsors of the competition finance the prize money.
Competition rules
The competition is primarily intended for researchers and students at Universities in the western area of Sweden but other individuals are welcome to participate as well. Participation can be either on an individual basis or as a team. Companies founded on a business idea prior to the 1st September of 2005 with a significant advantage prior to other competitors are not allowed to participate in the competition. Please contact the project management for guidance in this matter. The competitors have to possess the intellectual property rights intended for usage and the business idea should not be considered as "stolen". The jury will appoint the winners in each step and their decision can not be appealed. The project management team will decide on the right to compete in cases of uncertainty.
Secrecy and obligation to remain silent
Keeping business ideas secret is a requirement for the competition to be made possible. Due to that, all mentors, jury members and the project management team sign a declaration of secrecy and are obligated to remain silent. All routines regarding handling the submissions are drawn up for the highest level of secrecy in accordance to models from other successfully run business plan competitions in Europe. Together with your team, you decide what can be made public of your idea.
Source: http://frontpage.venturecup.org/
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