Tomorrow, I’m going to serve as a judge for the Hoya Challenge, a cool and fun business plan competition open to all students at Georgetown University. Lots of schools sponsor business plan competitions–in fact, the Kauffman Foundation has even developed a web site (I-Start) to help schools manage these events. The Hoya Challenge includes some interesting twists. First, it operates along two tracks and offers prizes for both commercial ventures and for social ventures. Second, it progresses along a very interesting phase of competitions as the ideas develop and become more concrete. Along the way, the less compelling ideas fail to move forward–ala American Idol!
The Hoya Challenge’s first two phases (already completed) judged ideas from Twitter feeds and from a one-page executive summary. Tomorrow’s judging is the Rocket Pitch, where we assess short elevator pitch presentations. The best Rocket Pitch ideas will then participate in a Final Challenge to be held in late March. A lot of cool ideas have already been developed and some have already been turned into businesses. Watch this space for future updates on the winners!!