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FREQUENTLY ASKED QUESTIONS

I: Eligibility Rules and Registration

Q: Am I eligible to participate in the Challenge?
A: To check the eligibility rules, please click here .

Q: How do I register for the Challenge?
A: To register your venture, please fill out the registration form.

Please note: Only the team captain needs to register for the venture. Please do not register with multiple founders.

II: Business Plan

Q: What are the business plan submission guidelines?
A: The business plan submission guidelines can be found here.

Q: Where are the judging criteria?
A: Click here for business plan judging criteria and semifinalist/finalist presentations.

Q: Are there any available resources to help me develop my business plan and prepare for the Challenge?
A: We will offer resource sessions. Click here for dates and times.

Q: Who will judge my business plan and what should I expect afterwards?
A: Each business plan will be evaluated by a panel of judges. Judges will include faculty, local business executives, investors, and entrepreneurs. Qualifying teams will be invited to participate in the elevator pitch and venture expo competition.

III: Elevator Pitches, Venture EXPO

Q: What should we expect during the day of the competition?
A: The agenda for the day can be found at: Schedule for Students
Instructions for students can be found at: Instructions for Students.

The dress code for the day of the competition is business formal. Teams are allowed to hand out information (flyers, business cards, pens, etc.) and bring additional people to present at their booth with them (i.e., customers to talk about their experiences). Teams are NOT allowed to distribute their copies of business plans to judges.

Q: Are there any parking arrangements for students?
A: Students are responsible for their own parking arrangement on campus. There are several parking areas on campus where visitors can use metered parking. Please visit UMKC’s Parking Operations webpage for more information.

Q: How can we setup displays at the EXPO?
A: Each qualifying team will have an assigned display table (or space) at which the team may showcase its venture and set-up materials for judges to review. The table is rectangular, about 5 feet long and 2.5 feet wide. The table does not have skirting or a backdrop behind the booth. Student teams can set up tables and booths beginning at 8:30 a.m. on the day of the competition. Students will receive name tags and instructions at the assigned table with team numbers in Room 401 at the Student Union. Students can locate their assigned tables by their team numbers.

Electrical access will be available, but close access cannot be guaranteed (e.g., please bring an extension cord). All special items and equipment should be prepared by the team.

Q: What should I expect for the “Elevator Pitch”?
A: Qualifying teams will be randomly divided into multiple rooms at the Student Union. One individual from each team will have two minutes to deliver the elevator pitch to judges.

Click here for elevator pitch judging criteria.

Q: Who will judge and evaluate my venture elevator pitch and venture expo?
A: A large group of local entrepreneurs and venture professionals will serve as judges during the elevator pitches and venture expo.

Q: How many teams will be selected to make semifinalist presentations?
A: 16 teams will be invited to give semifinalists presentations.

Q: Who should I contact if I have questions?
A: Please send your email to venturechallenge@umkc.edu.

IV: Semifinalist Presentations

Q: What should we expect at the semifinalist presentation?
A: 16 teams will be invited to make semifinalist presentations to a panel of judges. Venture teams will be assigned to 4 rooms, with 4 teams per room. Each team will have 15 uninterrupted minutes to make their presentation and 5 minutes to answer questions from a panel of judges. The judges will select one team from each room to compete in the finalist presentation.

Q: Will there be access to audio and visual equipment if teams want to show a video clip?
A: If sound and/or video is needed, the presenting team is responsible for checking the technology before the beginning of the presentations.

V: Finalist Presentations

Q: What should we expect at the finalist presentations?
A: Four teams (one from each of the semifinal rooms) will be invited to make finalist presentations to a judging panel and audience. Each team will have 15 uninterrupted minutes to make their presentation and 10 minutes to answer questions from a panel of judges. After the presentations are over, judges will rank the teams into No. 1, No. 2, No. 3, and No. 4.

Q: Will there be access to audio and visual equipment if teams want to show a video clip?
A: If sound and/or video is needed, the presenting team is responsible for checking the technology before the beginning of the presentations.