How the BIC Works
The competition follows a multi-stage process beginning with an application submission. Below you'll find everything you need to know about eligibility, the application process, business plan requirements, rehearsals, and participant expectations.
Eligibility
- Participants must be current full or part-time MSU undergraduate or graduate students or recent alumni within two years of graduating. Open to any major.
- Teams may include 1 to 5 people and may include non-MSU students as long as the team consists of at least 2/3 current students or recent alumni.
- Teams are no longer eligible to compete in the Big Ideas Challenge once they have won a cash prize. Teams may re-apply as many times as desired if they have not won a cash prize.
- Participants must follow rules and abide by all deadlines to remain eligible. At least one member of each team must attend both rehearsals.
- Participants agree that if they win first place, they will continue as a semifinalist in the Minnesota Cup.
Part 1 - Application
The application form will be available when applications open on Monday, August 24.
Applicants will receive Big Ideas Challenge updates throughout the competition via email. Be sure to provide an email address that you check daily.
All participants have the option to receive individual consulting from the Small Business Development Center, faculty and other mentors to assist with developing their idea, plan and pitch.
Part 2 - Business Plan
The six teams with the highest judging scores will become finalists and advance onto round 2 and 3 of the Big Ideas Challenge.
Individual mentors from the Small Business Development Center will be assigned to each team to help with plan and pitch. Teams must meet with their mentor twice.
Finalists will submit a business plan to Ashley Niss and Lisa Haman to be shared with our judging panel by the deadline.
Rehearsals
Friday, November 8 – Individual Reharsals
- Individual rehearsals can be conducted in-person or virtually, each team will have a one-hour slot.
- Please come prepared with a draft of your slide deck, as the CIE team will review it and offer feedback and recommendations.
Monday, November 16 – All Rehearsals
- Maverick Innovation Gateway
- 3:30 - 5 p.m.
- Teams are expected to attend for the full duration, but special accommodations can be arranged for class or work conflicts if approved by the CIE team in advanced.
Part 3 - Pitch Presentation
For the event Day, November 18, teams will pitch their ideas in front of the judges and live audience, the audience will vote for the People’s Choice award and the winners will be announced.
Expectations
The CIE Team holds the right to disqualify a team at a given time due to unprofessionalism. To comply with our guidelines, we expect the following:
- Late applications, business plans, slide decks, etc. will not be accepted.
- Unless given timely notice, Teams are expected to be at all Big Ideas Challenge meetings and rehearsals.
- Other acts of unprofessionalism will be judged on a case-by-case bases.
