APRIL 24, 2014
First Prize= $5,000, Second Prize = $2,000, Third Prize = $1,000
WHAT IS THE CANGIALOSI BUSINESS INNOVATION COMPETITION (CBIC)?
CBIC is an opportunity for UMBC graduate and undergraduate students who aspire to fulfill entrepreneurial pursuits. Participants will experience the process of planning a startup business by submitting a competitive and realistic 3-5 page business plan and qualifiers will present their idea in a final competition. NOTE: The CBIC requires that technology (mobile, web, etc.), be a focus of your startup idea.
WHO SHOULD PARTICIPATE?
Any UMBC student (full or part time, graduate or undergraduate) with a dream of launching his or her own business and who plans on actively pursuing that dream.
The CBIC is a next level competition designed to give aspiring entrepreneurs a real opportunity to experience every aspect of planning to launch a startup. The competition will pair you with business mentors from the community and give you practice presenting your idea to a panel of experts. It will also provide “real world” experience and helpful feedback. And, of course, the cash prizes to help you take your idea to the next level!
WHAT TO DO NOW?
To enter the first stage of the competition, complete the business plan template and candidacy application form found at http://entrepreneurship.umbc.edu/cbic-entry-form. Deadline for application is March 6th. This business plan will be reviewed by a panel of qualified experts for quality of the business plan (e.g., feasibility, market opportunity, etc.) and the expressed level of interest and motivation the applicants have to actually build/launch a business.
Candidates selected to proceed to Stage 2 will be notified by March 13th. They will be paired with a business mentor to help polish their business plan. They will also be provided with additional coaching and introduced to UMBC resources and regional support programs.
Individuals/teams that complete Stage 2 will be invited to present their business plans to a final panel of judges on April 24th. The top 3 winners in the competition will receive cash prizes up to $5,000. Additionally, they will be awarded with prize packages designed to support the launch of their business. Prizes could include a 6 month complimentary membership to Betamore, business advisory services as affiliate members of bwtech or other local incubators, the opportunity to pitch their idea to the local angel investment community, free access to regional business support programming, and more.