Bangladesh StartUp Cup
Business Model Competition
The StartUp Cup Business Model Competition is designed to stimulate entrepreneurial activity, grow jobs through startups, and increase awareness of the resources available to grow entrepreneurs in Bangladesh. All winners will be selected on an objective basis as determined by the criteria set forth below. You must read and comply with these rules to enter the Bangladesh StartUp Cup Business Model Competition (the “Competition”).
Who can enter the Competition?
This is open to all participants who meet the following criteria:
- The model must be an original idea for a business from idea up to five years in operation in five categories as explained below.
- Applicants need not be based in Bangladesh, but they must agree to establish or expand business operations in Bangladesh if they win.
- Company officers/members are 18 years or older at the time of entry and are legal residents of the Bangladesh.
- Company members cannot be directors, officers, or employees of sponsors. Immediate family members of any of the above are also disqualified.
- Not-For-Profit submissions will not be accepted.
Five Application Categories for Bangladesh StartUp Cup:
Anyone with a BIG IDEA can apply but we are focusing on five categories of StartUps for this pilot year: Technology, Tech-enabled, Social, Women Founders and Creative StartUps.
Technology StartUps category encompasses all types and varieties including ICT, Biotech, Genetic, Medical, Physics, Engineering, Nano, Electrical, Electronics, Light and Heavy Engineering, Climate and Renewables, Crops and Life Science etc. that solves problems of Bangladesh and the World!
Technology Enabled StartUps category encompasses all types and varieties including use and adoption of technology to do or enhance business efficiencies such as Social Media, Crowdsourcing and Collaboration, RFID and Telematics, Clouds and Big Data, Smarter Cities and Services etc. that solves problems of Bangladesh and the World!
Creative StartUps category encompasses all types and varieties including advertising and architecture, art and crafts, fashion and design, film and music, performing arts and publishing, R&D and software, toys and games, TV and radio, animation and video games, photography and documentary etc. that solves problems of Bangladesh and the World! The UK Government Department for Culture, Media and Sport (DCMS) definition which describes the creative industries as:
“those industries which have their origin in individual creativity, skill and talent and which have a potential for wealth and job creation through the generation and exploitation of intellectual property” (DCMS 2001, p. 04)
Social StartUps category encompasses all types and varieties including social good, bottom of pyramid, inclusive businesses or service delivery/access startups that applies business strategies to solve development problems of Bangladesh and the world.
Women StartUps category includes diversified and innovative startups founded by women to solve problems of Bangladesh and the world.
More information will be available at www.bangladesh.startupcup.com and on our facebook page: fb.com/BangladeshStartUpCup Below is also a calendar of events that you may find handy.
- 10-Apr-14: Launch/Press Conference
- 14-Apr-14: Kick-Off StartUp Cup Workshop / Submissions Open
- 7-May-14: Submissions Close
- 15-17 May 2014:
- Extreme Build Your Business Boot Camp
- Master Mentor Training
- Judges Induction Workshop
- Judges Review of Initial Submissions
- 1-Jun-14: Review Ends/Top 25 Selection Notification/Submissions of Long-Form Business Models
- 15-Jun-14: Deadline for Submissions of Long-form Business Models
- 20-Jun-14: Day One – Top 25 Pitches (7 minutes)
- 21-Jun-14: Day Two – Top 25 Pitches (7 minutes)
- 1-Jul-14: Top 12 Notification of Advancement to Semi Finals
- 5-Jul-14: Coaching Session for Top 12 Business Models/Pitches
- 19-Jul-14: Deadline for Submissions of Top 12 Revised Business Models
- 9-Aug-14: Judges Review of Top 12 Revised Business Models
- 9-Aug-14: Review Concludes / Top 12 Pitches (5 minutes)
- 12-Aug-14: Top 7 Notification of Advancement to Finals
- 16-Aug-14: Coaching Session for Top 7 Business Models/Pitches
- 22-Aug-14: Deadline for Submission of Top 7 Revised Business Models
- 28-Aug-14: Judges Review of Revised Submissions
- 28-Aug-14: Review Concludes / Top 7 Pitches (2 minutes)
- 22-Nov-14: StartUp Cup Business Model Competition Celebration
How do I enter?
Fill out the official Bangladesh StartUp Cup Competition Business Model short form. Your submission must contain the following information:
- Your business idea
- Need and/or solution being filled
- Product and/or service
- Market size
- Target customer
- Revenue streams
- Management team
- Strategy to market
- Funding requirements, if any
Submissions will be accepted between 14 April 2014 and 7 May 2014.
- Judges will review submitted Business Models and those short-listed to enter the Competition will be invited to a bootcamp from 15-17 May 2014 for final selection.
- The participant selected finally for the Competition will attend coaching session(s).
- A comprehensive Business Model and financial projections will be required for submission. Instructions and a link to an online Business Model long form will be sent to those invited to participate in the Competition.
All information will be kept confidential. The judges may require verification of certain information during the review of the business model. Only complete online business model forms will be considered.
Any questions regarding submission of business models should be addressed to BangladeshStartUpCup@BetterStories.Asia. Organizers of the Competition will not respond to direct inquiries regarding the contest other than general administrative questions.
What can I win?
The winners will be determined from all eligible entrants. The winners will be presented awards at the Bangladesh StartUp Cup Competition Celebration to be held on November 22nd during the Global Entrepreneurship Week (GEW) 2014. Winners must be present to accept awards. All finalists will be expected to participate in or attend the Bangladesh StartUp Cup Competition Award Celebration and may be required to make a brief presentation about their companies during the celebration. Besides winning a chance to attend the World StartUp Cup in 2015 by one startup upto 10 awards, cash and kind combined, will be distributed to the winning business models. In addition, the winning business models may receive entrepreneurial Strategic Partner support, and introductions to additional funding sources. Additional prizes may be awarded to other entrants. Other entrants must be present to accept these awards.
NOTE: There is no guarantee, expressed or implied, that any business will receive an award. Should no entries into the Competition meet the entry criteria, should no entry have a reasonable chance for success and should the selection committee determine no winner exists for that year of the Competition, no award will be made for that year and any award money will be used for the following years’ Competition. The odds of winning a prize depend on the skill of the entrants and the number of entries received. All taxes associated with the prize are the sole responsibility of the prizewinner. Prizes are not transferable.
How will the judges decide on a winner?
The judging panel will evaluate the plans on the basis of:
- Reasonable opportunity for success of the business model
- Company meets an identifiable need and actively tests market response
- Company has a strong execution strategy
- Company has identified and allocated resources to be successful
- Company utilizes resources effectively
- Company has a believable competitive advantage
- Company has a sound target market and customer base
- Revenue and profit models that fit
- Strong, coach-able management team
- Contribution to the uniqueness of Bangladesh
- Realistic time-frame for company growth
The entrants to the Competition will be judged on the merits of their business models with presentations made to the panel of judges and actual proof of market performance. The first presentation will include the top twenty five (Top 25) business models. The second presentation and the final round will include the top ten (Top 10) business models.
In the event of a tie, the judges will select the model that has the higher score under “Reasonable opportunity for success of the company.” All decisions regarding the criteria will be made solely by the organizers and sponsors. All decisions of the judges are final. These Official Rules as made or revised time to time by the organisers and the decisions of the judging panel are final and binding in all respects.
How do I find out if I won?
The winners will be announced at the Bangladesh StartUp Cup Award Celebration on Global Entrepreneurship Week (GEW) 2014. In addition to complying with the conditions set forth, as a condition of receiving a prize, each winner must sign an affidavit of eligibility and publicity/liability release. Failure to sign and return all of these forms within 14 days following notification will result in disqualification and an alternate winner may be selected. Non-compliance within this time period may result in disqualification and selection of an alternate winner. Return of any prize/prize notification as undeliverable may result in disqualification and selection of an alternate winner. The Winners list will be available after the official awarding of prizes at the Bangladesh StartUp Cup Award Celebration.
What are the other conditions of the Competition?
Other Funding or Competitions. Teams that have already secured funding from any source must disclose the amounts and sources at the time of entry, or as soon as they become aware of any funding commitment during the duration of the Competition. Teams that have entered a model into any other business model or business plan Competition must disclose this at the time of entry or as soon as they enter their model in another Competition during the duration of the Competition.
Original Work of Authorship. All entries must be original and free from any claim of copyright or other restriction relating to the Competition.
Number of Entries. No individual may be included as a “team member” on more than one business model, and no business may enter more than one business model.
Payment of Prizes. The cash awards paid by the sponsors/judges do not constitute an investment in the winning business model. Sponsors/judges will not receive equity in the winning companies in exchange for the prize money. Awards to the winners of the Competition will be issued in the name of the company as set forth in the plan and the sponsors/judges do not assume any liability for any subsequent distribution.
Competition. No responsibility is assumed and entrants waive all claims for lost, late or misdirected entries, or for any problems of technical malfunction of any telephone or network lines, computer online systems, servers or providers, computer equipment, software, failure of any email or entry received by Organizers and/or Sponsors on account of technical problems or traffic congestion on the Internet, the website or any combination, thereof including, without limitation, any injury or damage to entrants or any other persons’ computer resulting from any causes, including without limitation downloading any materials in the promotion. Entrants who violate these Official Rules, tamper with the operation of the Contest or engage in any conduct that is detrimental or unfair to Sponsors, the Competition, or any other entrant (in each case as determined in Organizers’ sole discretion) are subject to disqualification from entry into the Competition. Organizers reserve the right to lock out any entrant whose eligibility is in question.
Release and Waiver. By entering, participants, without limitation, release and hold harmless Organizers, Sponsors, Judges, Coaches, and their respective directors, officers, employees, and agents from any and all liability for any injuries, loss, or damage of any kind in connection with the Competition. By entering this Competition, you agree to waive any right to claim ambiguity or error in these Official Rules or in the Competition itself. If you have any questions about these Official Rules or the Competition, please contact us at BangladeshStartUpCup@BetterStories.Asia.