Competition Format
The NVBC competition takes place over four successive, and increasingly complex, rounds. Competitors are eliminated after each round until only 10 remain in play to win $300,000 in prize packages.
Round 1: The Idea
Participants register in the competition and describe their idea.
The deadline to enter is 11:59pm, April 19, 2010.
Round 2: Feasibility Test
Participants submit a five-page response to specific questions about their business idea. Judges will choose the 15 best ideas to advance to Round 3. An additional 25 competitors will be paired with a mentor to prepare a presentation before the jury. Ten will be selected to move on to Round 3.
The feasibility test submission deadline is May 10, 2010.
Round 3: Condensed Venture Plan
Participants are paired with a mentor who helps them expand their idea into a condensed business plan—an eight-page response to specific questions. Ten competitors will advance to Round 4.
The condensed venture plan deadline is August 2, 2010.
Round 4: Finale
Ten finalists will make oral presentations to the jury on Sept. 10 and 11, 2010. Judges will then select winners for each of six prize packages.