Applications due March 9, 2020 by 1:00PM
(Click here to register!)
Event Moved Online to Select Participants
First Prize= $3,000
Second Prize = $2,000
Third Prize = $1,000
Additional $2,000 available after 6 months.
The CBIC is designed to attract the real entrepreneurs at UMBC, the ones who know they are going to start a company, or in some cases have already. You’re the ones this entrepreneurship program was designed for! Are you ready to start living your dream?
What is the CBIC?
The CBIC is an opportunity for UMBC students who are serious about starting a business.
Who Should Participate?
Any UMBC student (full or part-time, graduate or undergraduate) with a dream of launching their own business soon.
The CIBC will give you “real world” experience. You’ll be paired with a business mentor and you’ll get helpful feedback and guidance. You’ll also get connected to the local entrepreneurial ecosystem.
Winners also get:
- Free legal services
- Accounting advice
- Membership at the award winning Betamore campus in Federal Hill
- Fundraising advice and Pitch practice with members of Betamore Angels.
The CBIC is sponsored by:
Baltimore Angel Network
APPLY: REGISTER HERE
To enter the first stage of the competition, complete the business plan template and candidacy application form found here. Deadline for application is MARCH 9, 2020 by 1:00PM. 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 19, 2020. 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 30, 2020. The top 3 winners in the competition will receive seed capital of up to $3,000. 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. An additional $2,000 is available to one of the top 3 winners after a 6 month review of their progress.
Quotes from Past CBIC Winners
Nikolas Sicilia – GreaterPlate (2020)
“When COVID-19 began to affect the academic semester, one of the first things I was upset about was its effect on the CBIC. I had been looking forward to the CBIC since I got to UMBC, and thought for sure that it was going to get cancelled. I was extremely pleased with how UMBC’s Alex. Brown Center pivoted and gave us all an experience that was beyond our expectations given the conditions!”
Noha Darwish – Madina Girl (2020)
“The CBIC Competition was very transformative for my business, I learned a lot about myself and my business. It was a great opportunity for many reasons but one of the most important is because of my mentor who gave me so much support and guidance. The competition was demanding and challenging in the best way and because of it, my business is a lot stronger, as am I.”
Akshay Pershave- Karotene (2019)
“The competition and mentorship immensely helped distill Karotene’s value proposition and concretize our business plan. The feedback and visibility Karotene received is of great value as we progress towards our MVP. The ideas pitched at the CBIC also gave a glimpse of the thriving startup and innovation culture at UMBC.”
Michael Ogunsanya- CEO of MindStand Technologies (2019)
“The CBIC allowed us to showcase our budding student startup for Baltimore’s finest entrepreneurs! Their advice, mentorship, and network will benefit MindStand Technologies for years to come.”
Dan Lee (2019)
“CBIC really pushed us to create a killer pitch deck, which we can now use for future opportunities.”
Mustafa Al-Adhami (2018)
“The Alex Brown Center and CBIC have supported my venture for over a year now. I am so grateful to have been able to use the resources they offer to develop my business idea, and I am excited to get to work on the next stage of development with their support.”
Miranda Marvel (2018)
“The CBIC has been a great experience! The advice from my mentor helped me to significantly hone my business pitch, and having the encouragement and support from the UMBC entrepreneurship community has given me the confidence and ability to take my business to the next step and start developing a prototype.”
Chris Bodan- Aye-Aye (2017)
“Participating in the CBIC was a life changing experience. In just over a month, we took an idea and transformed it into a full business proposition. The CBIC isn’t just a contest. The guidance, advice, and resources you are given along the way are invaluable. The CBIC is an opportunity for students to take a “what if” and turn it into something extraordinary.”
Filip Dabek- Supply Sense (2016)
“Going through the Cangiolosi Business Innovation Competition (CBIC), UMBC allowed me to go through the process of formulating a business plan and prototype product, from which I learned a great deal and received excellent strategic mentorship from CBIC affiliated faculty. Through the knowledge that I gained from being a CBIC participant, I am now going to take my SupplySense idea to market.”
Annah Seo – PiVot (2015)
“The CBIC was a great opportunity to showcase my creatvity and get feedback on presenting in front of investors.”
Michael Gardner – Neighborhood Net (2015)
“Amazing. I learned so much about entrepreneurship, pitching an idea, and networking. These lessons I will carry with me for the rest of my life – through both entreprenuerial endeavors and building myself professionally.”
Patrick Wheltle – Baltimore Emergency Medical Technology (2015)
“The experience with CBIC was one of the most memorable things about my college career. It was really challenging and engaging and gave me experience that I could take with me to the real world.”
Markus Proctor – EduPal (2014)
“I consider the CBIC the highlight of my undergraduate experience. The phrase ‘unlock your future’ definitely rings true for me since I credit almost every opportunity in front of me now to the CBIC.”