Competition Rules and Guidelines 2015

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The online app for accepting submissions to Launch DePaul 2015 will open on January 12th. To assist you in your planning, here is the information you will be requested to include:

COMPETITION RULES AND GUIDELINES

  1. Current DePaul university undergraduate and graduate students, as well as DePaul alumni of 2014, are eligible to compete in Launch DePaul 2015. The competition is open to all DePaul university colleges and departments. Mentors, faculty, advisors, and passive investors may not serve as team members.
  1. There is a minimum of two individuals and a maximum of six individuals on a team. Individuals may participate only on one team.
  1. At least 50% of the team must consist of current DePaul students or 2014 DePaul alumni. Other team members can be students from other universities or outside individuals 18 years or older. At least 50% of the team presenting at Awards Night must be DePaul students or alumni.
  2.  Teams with a mix of both graduate and undergraduate students will be bumped up to the Graduate/Alumni category.
  1. Each team member must hold a management position in the venture. A DePaul student/recent alumnus must be designated at the Team Captain and primary contact for the team.
  1. Launch DePaul focuses on new ventures, which we define as companies younger than two years, with no substantial outside capital or sales revenue at this point. Teams that have received outside funding (cash or equity) will be required to disclose sources and amounts on the application form.
  1. Prior winners of Launch DePaul are not eligible to enter with the same venture and/or similar products or services.
  1. Only one submission of a new business venture per team is allowed.
  1. Submissions must be the original work of the team members. Teams are expected to uphold DePaul’s Academic Integrity Policy.
  1. All submissions will be treated as company confidential and protected in the spirit of non-disclosure. Materials will be circulated to competition judges only. However, no specific provisions for intellectual property protection can be made, including non-disclosure agreements (NDAs).
  1. All submissions must be made online before the deadline of April 1, 2015 at 11:59pm. No late submissions will be accepted.
  1. Judging will be conducted by an outside panel of experts comprised of individuals with professional business experience. Judges may be successful entrepreneurs, venture capitalists, angel investors, service providers, or other entrepreneurial professionals.
  1. Judging will be conducted in two rounds. The first round of judging will narrow the competition to six final teams, who will all present to judges at the Launch DePaul Awards Ceremony on the evening of May 5, 2015.
  1. Should the team qualify as a finalist, at least two team members are required to present at the Launch DePaul Awards Ceremony on the evening of May 5, 2015. DePaul students/alumni must deliver the majority of the presentation.
  1. Prizes will be awarded based on evaluations of written submissions and team presentations by a panel of judges, including leading members of the Chicago entrepreneurial community, at the Launch DePaul Awards Ceremony on the evening of May 5, 2015. Audience participation at the Awards Ceremony will also contribute to the final vote tally.
  1. Prize money will be awarded only to the business entity that the winning team forms (e.g., corporation or LLC). The DePaul team captain will then be responsible to distribute the funds accordingly. Winning teams will have until December 31, 2015 to form their business entities. Funds will be awarded only to fund the startup of the winning team company. Teams and their resultant business entities are responsible for any tax consequences of the Launch DePaul prizes.
  1. The Coleman Entrepreneurship Center reserves the right, at its sole and absolute discretion, to disqualify any team from the Launch DePaul 2015 competition at any time (before or after a judging round or the awarding of any prize) for any reason. Reasons for disqualification may include, but are not limited to, plagiarism and other forms of academic dishonesty, infringement or misappropriation of the intellectual property rights of others, or any failure to comply with the competition rules and guidelines. If disqualified, teams shall forfeit all prizes awarded to them.
  1. Final prize amounts are at the discretion of the judges. However, Launch DePaul 2015 prizes for both Graduate and Undergraduate divisions are anticipated to be: $4,000 (First Prize); $2,500 (Second Prize); $1,000 (Third Prize). In addition, we anticipate a People’s Choice awarded of $1,000 for each division.

Competition Rules and Guidelines 2015