European Global Varsity presents the Global Virtual Business Plan competition – “European Global Start-up Challenge” as part of its efforts to elevate global competencies. We collaborate with Global institutions to offer various modules that bridge the gap between job requirements and the skill sets. In this competition, we would like to thank Rushford Business School, Switzerland and the European School of Data Science & Technology, France for their passion towards skill development and their knowledge contributions to this event.
The mission of this competition is to “Foster Entrepreneurship Among Young Innovators”, and at same time allowing opportunities to earn Global awards and recognitions.
Fostering entrepreneurship among young innovators is crucial to cultivate creativity, resilience, and problem-solving skills essential for economic growth. Empowering the young generation encourages learning fresh perspectives, drives job creation, and fuels disruptive innovations. By nurturing their entrepreneurial spirit, we not only cultivate future business leaders but also instils a culture of innovation that tackles societal challenges, propelling progress and fostering a dynamic, forward-thinking society.
Competencies gained post completing this event:
- Business Acumen
- Communication Skills
- Problem-Solving and Critical Thinking
- Global Networking and Relationship Building
- Resilience and Confidence
- Entrepreneurial Mindset
- Time Management and Organization
Outcomes of the competition:
- To inspire and support the entrepreneurial spirit among individuals aged 14-18, and 19-25.
- To provide a global platform for innovative business ideas and plans.
- To offer mentorship and recognition to aspiring young entrepreneurs.
- To offer a global platform to seek investment opportunities.
Competition Guidelines:
Eligibility:
- Open to individuals aged 14-18, and 19-25 worldwide.
- Teams or individuals can participate. Not more than 4 team members can participate in 1 team.
- All industries and business ideas are welcome.
Submission Requirements:
- Executive summary – Must grab and hold interest
- The market opportunity – Prove the existence of the market opportunity
- Management capability – Your strategies and tactics reveal your value
- Financial opportunity for investor – Financial return, exit & harvest options
- Impact on Society of Innovation – promote societal well-being
- Appendices – Supporting data
The course and podcasts will help you understand and learn each aspect of this business plan. Especially your submission categories that have been explained in the first session by Prof. Douglas.
Format and stages:
Your submission progresses through two vital stages. In Stage 1, craft an MS Word document not surpassing 20 pages (including bibliography but excluding appendices).
This initial document undergoes rigorous scrutiny as we seek 20 entries exhibiting exceptional entrepreneurial potential. These chosen entries will receive personalised mentorship sessions with seasoned investors and entrepreneurs, refining their business blueprints.
Finally, these top 20 entries will pitch directly to investors, presenting their innovative entrepreneurial ventures for potential collaboration and investment opportunities.
Judging Criteria:
- Innovation and Creativity
- Feasibility and Viability of the Business Idea
- Market Potential and Scalability
- Clarity and Presentation of the Business Plan
Judges and Mentors:
- Judges: Industry experts, entrepreneurs, and academics passionate about fostering young talent.
- Mentors: Seasoned investors/ entrepreneurs volunteering to guide and support participants.
Prizes:
Besides immense learning opportunities, we offer amazing the following tangible awards:
- First three Prizes: Opportunity to get Funding. Funding available up to Euro 100,000
- Top 20 teams: personal mentorship by global entrepreneurs and investors.
- Top 20 teams will receive Certificate of Achievement and reference letters from your global mentors.
- All participants will receive a certificate of participation, and
- All participants will receive a certificate of course completion post completing the course and first level of submission.
How we prepare you for this competition:
We not only accept entries, rather we prepare you for understanding every aspect of the business plan. Post-registration for this event, you will be enrolled in a course, specifically designed by our experts in the field of entrepreneurship.
The course comprises 5 modules as follows:
- Writing a business plan for a new venture, session by Prof. E. Douglas, Griffith Business School, Australia. This session elaborates on various sections of a business plan and how to prepare a business plan. Your submission will be based upon 5 key categories of business plan explained by Prof. Douglas.
- Entrepreneurial opportunities, Prof. Jon Eckhardt – University of Wisconsin, USA This session explains what makes a good opportunity and ways to evaluate the market opportunity.
- What entrepreneurs need to know before they start, Prof. Sharon Alvarez – Ohio State University, USA This session elaborates upon various case studies of reputed entrepreneurial ventures and how the founders identified entrepreneurial opportunities.
- Financial resources for the new venture, by Prof. Dr. Gary Dushnitsky – London Business School, UK This session explains venture stages, various modes of funding available, and the ways to evaluate which mode of funding is best suited for.
- Creating and Deploying the Entrepreneurial Team, by Prof. Ted Baker – North Carolina State University, USA This session highlights the relevance of a good team and developing management capabilities.
Weekly Podcasts/ Webinars: Besides the above course, several podcasts from entrepreneurs will be shared with you every week that will help you understand the landscape of entrepreneurship and funding opportunities.
We ensure learning happens both with mentoring and guidance and in an experiential way!
Timeline:
- Launch Date: 8th December 2023
- Enrolment Deadline: 21st Dec 2023
- Course Access: 26th Dec 2023
- Stage 1 Submission due date: 25th January 2024
- Stage 1 Winners Announcement: 5th Feb
- Stage 2 Mentorship Period: 6th-10th Feb
- Stage 2 presentations and winners announcement: Feb 2024, dates to be confirmed with investors
Register for this event or Subscribe to “European Global Consortium’s: Competency Enhancement Initiative”