TAAACC Collegiate Entrepreneur Competition
The Competition is an entrepreneurial pitch contest for college, and college age African American students. This contest was created after a long observation of the new emerging entrepreneurial and venture capitalist craze that has started and grown especially with reality shows like “Shark Tank”. However, we have observed and studied the disparity between Black entrepreneurs and the little to no money allotted or even the dismal opportunity to compete.
There are many factors that attribute to this problem, but we know ability is not one of them. Over history, slaves and freed men alike invented a large percentage of modern staples in American life. There are endless lists of Black inventions during slavery and during reconstruction, and an even longer list of stolen ideas and blocked or rejected patents. This has discouraged many over the years and decreased the number of African American patents and involvement in inventions and R & D.
Therefore, TAAACC has decided to make the opportunity available for African American students in Texas at our annual TAAACC Conference on September 18-19th 2014 with a total allocation for winners at $25,000!
ENTRY AND RULES
There is no cost of entry. You must register for the contest http://www.taaacc.org/ by Friday May 31, 2014 by 11:59 PM CT.
Each Team is allowed up to 5 people, but lesser is advised. Individuals/Teams must have a business or invention already in the works, or they must have a full Business proposal with financials and any other accompanying details concerning business planning.
Each individual or team may enter one idea, and the same idea cannot be entered in more than one field. Students may participate on multiple teams, but can only pitch one idea.
Teams are encouraged to seek the involvement of School Faculty and professionals in the field for guidance. There will be 2 rounds of elimination to narrow down contestants to the final competition. A preliminary screening and audition will take place leaving 20 contestants remaining. The subsequent elimination will leave 10 remaining who will be in contact with TAAACC up until the official competition. Contestants will be in close contact by email after registration is completed on April 7th to be notified if selected. Following the selection we will send you the dates of interviews and discuss the competition process. ELIGIBILITY Contestants must be between the ages of 18-25.
All entries must be the original work of the contestant. Teams must disclose any funding already received at the time of registration.
Teams must not have accepted any institutional or non-institutional funding exceeding $10,000. This includes any source of funding that has an equity ownership component. Also, any funding including other contest, grants, friends and family, bank loans, etc. that are not equity owned.
By submitting to the TAAACC Collegiate Entrepreneur Challenge you are not and will not be violating any contract or third party rights including any patent, copyright, trade secret, proprietary or confidential information, trademark, publicity, or privacy.
The Organizing Committee of the TAAACC Collegiate Entrepreneur Challenge reserves the right to disqualify any entry that, in its judgment, violates the goal and spirit of the competition, guidelines, processes and rules, and eligibility requirements.
The decisions of the Committee are final and binding.
ACCEPTABLE BUSINESS PLANS
Conventional and non-conventional plans are eligible for the competition, including, but not limited to: •New venture/new business (including non-profit businesses)
•Merger or acquisition, including leveraged buyouts that will lead to a turnaround, roll-up, or some other significant change that adds value to the current business • Joint venture, alliance or network-based business (e.g., create new entity from current enterprises)
•Licensing arrangements • Search fundsNote that all businesses are judged based on the same criteria COMPETITION RULES The entire presentation during the both preliminary rounds must be entirely complete and ready. Competition must be done in person, No exceptions.
Contestants will have 30 minutes each to present their business proposals. Props are prohibited from the contest except the following – PowerPoint slides, visual aids, prototypes, representations, and clothing or accessories worn/used and referred to or called out to illustrate any point in the pitch.
CONFIDENTIALITY AND INTELLECTUAL PROPERTY
The identities of the contestants and the short description of the business disclosed in the registration, as well as any presentation delivered during any TAAACC event, are considered of public domain and can be used by the TAAACC Committee for marketing and PR purposes. Before submitting entries, the TAAACC Collegiate Entrepreneur Challenge Organizing Committee urges contestants to confirm with appropriate advisors and legal counsel that any intellectual property described in their summary is protected: i.e., by appropriate intellectual property filings, notices, (patent, copyright, etc.) by the owning institution and/or individuals.
For any doubts about the legal status of contestants’ own or third party intellectual property or any other aspect of their plan, the TAAACC Organizing Committee advises to seek independent legal counsel or contact the Organizing Committee.
Any other questions or concerns please call Jeremy at: (972) 809-6744 Click Here to Register