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HOW IT WORKS


• Only early-stage entrepreneurs, businesses with less than 2 years of existence, and those with two years and more who are headquartered in Wake County can participate.


• There will be three categories for early-stage (pre-revenue) entrepreneurs, business owners with less than two years since formation, and business owners with more than two years' experience. 


• All participants must attend at least one webinar of a three-webinar series designed to prepare attendees for pitching.



Three winners from each category will be selected from a number of semi-finalists to pitch.

AWARDS


  • Skyline prizes (older than two-year businesses) $7,500
  • Structure prizes (less than two years since formation) $ 5,000
  • Blueprint prizes (early-stage or idea business) $ 2,500


PITCH DAY FINALE


Watch and cheer on this year's SEMI-FINALISTS in the Pitch Day Finale!


When: Wednesday March 12th

Where: Wake Tech Western Campus


The link will be shared


COMPETITION ENTRIES


Entries for the Business Pitch Competition will open February 23rd for those that have completed the webinar. When you are ready to record or upload your ONE MINUTE idea click the button below.


TRAINING EVENTS


Our goal is not only to help you perfect your pitch but to help you learn how to turn your idea into a viable business. You are required to attend at least one of the following pitch development webinars designed to assist in preparing you for the pitch competition. Attending only one webinar to apply is required. We encourage potential applicants to attend each. The webinars are designed to improve your business concept and presentation no matter which level you are pitching at.


Is There a Market for My Idea? (online)

Mon, Feb 9 12:00 PM to 2:00 PM      

                  

Doing Projections- Is This Funding Enough? (online)

Wed, Feb 11 12:00 PM to 2:00 PM 


      From Elevator to Funding: Preparing for All Types of Pitches(online)

Mon, Feb 16 12:00 PM to 2:00 PM 


              

Is There a Market for My Idea? (online)

Wed, Feb 11 6:30 PM to 8:30 PM 


Doing Projections- Is This Funding Enough? (online)

Tue, Feb 17 6:30 PM to 8:30 PM 


From Elevator to Funding: Preparing for All Types of Pitches(online)

Wed, Feb 18 6:30 PM to 8:30 PM 


SPONSORED BY


FREQUENTLY ASKED QUESTIONS


Why are you doing this?

The Wake Tech Business Pitch Competition is to provide everyone a chance to share their ideas, test viability and compete for funding to support new venture creation and growth for existing businesses.


How does the Competition work?

Before February 23rd, participants must attend at least one of three webinars in series designed to prepare participants for pitching. Once completed, the application process will open for each participant. The next step is for participants to submit a one-minute video pitch along with an application explaining their business pitch. The competition will select the top participants from one of three categories to advance to a final pitch event. The judges will then select the top three from each category as winners to receive seed funding. 


Who can submit?

Anyone age 18 and older that resides in or operates their business in Wake County.


One minute is not a lot of time, what are you looking for in the video pitch?

We are looking to find great business ideas that solve problems, provide value or lead to improvement of products, services or processes. During your video pitch be sure to tell us who you are, the problem - your idea, and the solution that is how your idea solves the problem/meets a need, provides value or leads to improvement.


Do I have to submit my pitch through the website or can I come to the Small Business Center and pitch?

All pitches must be submitted through the website by completing the entry form and recording or uploading a pre-recorded one minute pitch, either on your own or contact us for assistance. We are here to help and don't want technology to be a barrier for participation.


Can an existing business pitch?

Yes, an operating business can pitch if the pitch is for a project or innovation that is not part of their existing operation. They have to be seeking funding to seed a new idea or revenue stream for the business.

They can't pitch seeking funding to support the existing business concept or operations. Those submitting a general pitch for an operating venture will not move forward. Please clearly speak to the new innovation in your pitch if you are an existing business.


A good existing business pitch example: a pizza shop wants to try an online campaign to ship vacuum sealed frozen pizza on dry ice direct to out-of-state consumers.  


A bad existing business pitch example: a pizza shop needs funds to pay their rent or for general business operations


What happens if I am selected?

Selected semi-finalists will pitch for three minutes on Wednesday March 12th at 6pm in front of a three judge panel and must be prepared to answer questions..


How do I "flesh out my idea" and create a polished pitch?

We require all contestants sign up for and attend at least one of the webinars. They will help you think through your idea and determine if and how it can become self-sustaining. In addition to the Wake Tech SBC webinars, we suggest taking advantage of other trainings and business counseling available through the Small Business Center Network and other local small business development partners.


Who picks the winners?

Judges are Wake Tech stakeholders who support entrepreneurship in Wake County: Dr. Jenipher Cornelius- Wake Tech Associate Dean, Entrepreneurship & Business, Representative Mike Schietzelt, NC House of Representatives 35th District, and Mike Conlon, Entrepreneur and former chair of the Wake Tech Foundation Board.


Will Wake Tech own a stake in any of the submitted ideas?

No. Wake Tech nor any of its program partners will have any ownership stake in the ideas or companies formed.


Will Wake Tech sign a non-disclosure agreement?

No. With the volume of ideas submitted, it's not feasible for us to keep track of the restrictions within all NDAs we could potentially sign. To better protect ideas, we don't make the pitch videos public without permission of the person who submitted. Additionally, any submitter can independently a provisional patent on their idea before submitting.  

BASIC RULES


  • Website users 18 years and older may submit more than one unique idea for consideration.
  • Ideas may be submitted at any time prior to the February 23rd deadline.
  • To be eligible Ideas submissions are limited to businesses and entrepreneurs headquartered in Wake County.
  • Video recordings of pitches submitted to Wake Tech Business Pitch Competition will not be publicly viewable in their entirety.
  • Only attendees of the approved webinars can submit pitch video and applications.
  • Judges have full discretion over allocating grant moneys to the winners.
  • The Business pitch competition organizers may remove any idea from the website at their discretion.

TERMS AND CONDITIONS


Participation in the Business Pitch Competition constitutes permission for Wake Tech and Business Pitch sponsors and partners to use the participant’s name, address (city and state), image, likeness, voice, biographical information, application, presentation, and/or video or audio recordings from live presentations—with the exception of the video recording uploaded to the application by you in association with your submission (the “Pitch”)—or otherwise for public display and advertising and promotional purposes in any form or media now known or developed in the future without notice or additional compensation, except where prohibited by law. Pitch recordings submitted through the website by registrants will not be made public without permission from the individual who submitted the idea.


Wake Tech may temporarily or permanently suspend the Business Pitch Competition, or modify the contest venues, structure, or rules at any time and without advance notice. The Business Pitch Competition, sponsors, and judges reserve the right, in their sole and absolute discretion, to disqualify and reject any entries and participants for any reason.


Employees of Wake Tech Community College and their immediate families (parents, children, siblings, spouse) or members of the same household (whether related or not) of such individuals (“Related Parties”) are not eligible. A judge and his or her Related Parties are not eligible for the contest in which the judge is serving as a judge.


By entering the contest, entrants fully and unconditionally agree to be bound by the rules and the decisions of Wake Tech and the judges, which will be final and binding in all matters relating to the contest.


Any and all federal, state and local taxes and fees resulting from participation or receipt of any award are the sole responsibility of the participant. All federal, state, and local laws and rules apply.


By participating in the contest, all entrants and winners agree to defend, indemnify and hold harmless Wake Tech, the judges, trainers, counselors and their respective affiliates, partners, representatives, agents, successors, assigns, employees, officers and directors, from any and all liabilities, for losses, harm, damages, injuries, costs or expenses whatsoever including without limitation, property damage or injury which may occur in connection with participation in the contest, for any claims based on third party rights in the entry or arising out of the use of the entry as allowed by these rules including, but not limited to publicity rights, defamation, invasion of privacy, copyright infringement, trademark infringement or any other intellectual property-related cause of action.


Any attempted entry other than as set forth above is prohibited; no automatic, programmed, robotic or similar means of entry are permitted. Wake Tech and its affiliates are not responsible for technology, hardware, software, or communications malfunctions, errors or failures of any kind, lost, congested, or unavailable network or internet connections, incomplete or inaccurate capture of entry information (regardless of cause) or failed, incomplete, garbled, or delayed computer transmissions which may limit one’s ability to enter the contest or vote, including issues resulting from downloading any materials from the contest, sponsor’s or partner’s website.


YOU EXPRESSLY AGREE THAT WAKE TECH, ITS JUDGES, AFFILIATES, PARTNERS, REPRESENTATIVES, AGENTS, SUCCESSORS, ASSIGNS, EMPLOYEES, OFFICERS AND DIRECTORS SHALL NOT BE LIABLE FOR DAMAGE, LOSS, OR EXPENSE OF ANY KIND ARISING OUT OF OR RESULTING FROM YOUR PARTICIPATION IN THE BUSINESS PITCH COMPETITION REGARDLESS OF WHETHER SUCH LIABILITY IS BASED IN TORT, CONTRACT, OR OTHERWISE. IN NO EVENT, INCLUDING, WITHOUT LIMITATION, A NEGLIGENT ACT, SHALL CENTRAL PIEDMONT, ITS JUDGES, AFFILIATES, PARTNERS, REPRESENTATIVES, AGENTS, SUCCESSORS, ASSIGNS, EMPLOYEES, OFFICERS AND DIRECTORS BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES (INCLUDING, WITHOUT LIMITATION, LOSS OF PROFITS, LOSS OR CORRUPTION OF DATA, LOSS OF GOODWILL, WORK STOPPAGE, COMPUTER FAILURE OR MALFUNCTION, OR INTERRUPTION OF BUSINESS), ARISING OUT OF OR IN ANY WAY RELATED TO THE WAKE TECH BUSINESS PITCH COMPETITION OR ANY OTHER PRODUCTS, SERVICES, OR INFORMATION OFFERED, SOLD, OR DISPLAYED ON THIS SITE, YOUR USE OF, OR INABILITY TO USE, THIS SITE GENERALLY, OR OTHERWISE IN CONNECTION WITH THIS AGREEMENT, REGARDLESS OF WHETHER CENTRAL PIEDMONT, ITS JUDGES, AFFILIATES, PARTNERS, REPRESENTATIVES, AGENTS, SUCCESSORS, ASSIGNS, EMPLOYEES, OFFICERS AND DIRECTORS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. BECAUSE SOME STATES DO NOT ALLOW THE LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, THE ABOVE LIMITATION MAY NOT APPLY TO YOU.


You expressly waive all rights to trial in any action or proceeding instituted in connection with these rules or the contest. Any controversy or claim arising out of or relating to these rules or the contest shall be settled by binding arbitration in accordance with the commercial arbitration rules of the American Arbitration Association. The prevailing party shall be entitled to recover its expenses (including reasonable attorney fees) in connection with the arbitration and any appeal from the losing party. Any award by the arbitrator shall be final and binding on all parties, subject to any limited right to appeal under the Federal Arbitration Act. Any court having jurisdiction may enter judgment on the arbitrator’s award. Any such controversy or claim shall be arbitrated on an individual basis, and shall not be consolidated in any arbitration with any claim or controversy of any other party. The arbitration shall be conducted in the State of North Carolina, City of Raleigh. 


THESE OFFICIAL RULES AND THE INTERPRETATION OF ITS TERMS SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NORTH CAROLINA, U.S.A., WITHOUT REGARD TO ITS CONFLICTS OF LAWS RULES. Wake Tech makes no representation that the materials are appropriate or available for use outside the United States. If you access this site from outside the United States, you will be responsible for compliance with all local laws. You agree to comply with all laws and regulations applicable to your use of this site. For any disputes with Wake Tech arising out of the contest or the rules that are not subject to arbitration, you agree to submit to the personal and exclusive jurisdiction of the state or federal courts located within Wake County.