The competition is for new, independent ventures in a seed position:
- Booked Revenues: Existing companies that have booked revenue are not eligible to enter the competition.
- Professional Investment: Any existing company or idea that has received angel or venture capital financing is ineligible for this competition. Funding from personal sources, including “family and friends,” is allowed for competition applicants as long as its less than $100,000.
- Venture Type Exclusions: The following ventures are generally excluded from the competition: buyouts, expansions of existing companies, real estate syndications, tax shelters, franchises, licensing agreements for distribution in a different geographical area, and spin-outs from existing corporations.
Eligible and Interested?