Launch DePaul FAQ 2015


What is Launch DePaul?
Launch DePaul is a new venture competition in which students can submit and pitch a new business idea and win cash prizes and in-kind services to help them launch their company.

Who is sponsoring Launch DePaul?
Launch DePaul is sponsored by DePaul University’s Coleman Entrepreneurship Center, part of the Driehaus College of Business. The Center serves as an entrepreneurial hub for DePaul students, faculty and alumni, as well as the broader Chicago business community. Through advising, events, and other programming, the Center helps students start and grow successful companies.

Can individuals outside of DePaul’s business school enter?
Yes! The competition is open to all colleges, departments, and centers at DePaul.

How many people can be on a team?
There is a minimum of two members and a maximum of six members on a team. At least 50% of the team must consist of current DePaul University undergraduate or graduate students, or 2014 DePaul alumni.

Can I enter as a solo entrepreneur?
No. The minimum number of team members for Launch DePaul is two. We have found that ideas flourish best in teams.

Can I have team members from outside of DePaul?
Yes, you may have team members from outside of DePaul. However, you must make sure that your team consists of at least 50% DePaul University students (undergraduate or graduate) and/or 2014 DePaul alumni. At least 50% of the team presenting at Awards Night must be DePaul students or alumni.

If I graduated from DePaul more than a year ago, can I compete?
Yes, we welcome your participation. However, your team must meet the guidelines for involving current DePaul University undergraduate or graduate students or 2014 DePaul alumni. Also, the captain and primary contact must be a current DePaul student or 2014 alumnus.

Can I enter Launch DePaul 2015 with the same business idea I entered in prior Launch DePaul competitions?
No. We encourage you to enter Launch DePaul 2015, but you must enter with a new business idea.

How will teams be judged?
There will be two rounds of judging. The first round will be based on the detailed online submissions. Six finalists will be selected; three graduate student teams and three undergraduate student teams. These six teams will be invited to present their businesses at the Launch DePaul Awards Ceremony on Tuesday, May 5, 2015 and will be evaluated by our team of judges. Final tallies from the VIP judges will determine the competition winners.

Can teams have a combination of graduate, undergraduate and 2014 alumni?
Teams with a mix of both graduate and undergraduate students will be bumped to the Graduate/Alumni category. Any team with DePaul alumni will also be judged in the Graduate/Alumni category.

Are there any Non-Disclosure Agreements involved in the Launch DePaul competition?
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).

When is the deadline for entry?
The deadline for entry is Wednesday, April 1, 2015 by 11:59pm. Teams must submit their application in full by this deadline in order to be considered as competitors.

How many teams will be finalists?
The first round of judging will narrow the competition to six finalists, who will all present to the judges on Tuesday, May 5, 2015 at the Launch DePaul Awards Ceremony.

How will the prizes be awarded?
Prizes will be awarded based on evaluations by a panel of judges, including leading members of the Chicago entrepreneurial community. Audience participation at the awards event on Tuesday, May 5, 2015 will also contribute to the final selection.

When will the Launch DePaul Awards Ceremony take place?
The presentation, judging, and Final Awards Ceremony will take place on Tuesday, May 5, 2015 from 6-9pm. The event will be held at the DePaul Welcome Center on the Lincoln Park campus.

Launch DePaul FAQ 2015