OVERVIEW

Established in 1973 as an affiliate of the National Minority Supplier Development Council (NMSDC), the mission of SRMSDC is to support minority-owned businesses through the engagement of our corporate members by providing business training and access to procurement opportunities. We are the largest advocate for minority businesses in the Gulf South region, serving the states of Arkansas, Alabama, Louisiana and Mississippi. SRMSDC is one of twenty-three regional affiliate councils with the National Minority Supplier Development Council (NMSDC).

As a regional organization, we recognize that our region needs innovators that create new models that create new sustainable products and services for the economic engine of our economy – small businesses. Lead the charge and innovate with us to make our regional economy even greater by participating in the THINK BIG! Innovation Challenge 2019.

The THINK BIG! Innovation Challenge is an economic development venture pitch competition that recognizes, resources, and rewards students interested in created solutions that create positive, sustainable change for the Alabama, Arkansas, Louisiana and Mississippi economy.

Participants:

·         Students with a nuanced understanding of a marketing, technological, business process or environmental issue identify gaps in the current approaches and recommend solutions to solve their identified problem. Þ Create a viable business proposal based on their potential solution that can address the identified gaps. Þ Pitch their venture to a panel of judges for the top prize of $4,000 with $2,500 to second place and $1,000 to third place winner. Winners can use the money for school, books or as seed money to help develop their THINK BIG!  Gain invaluable entrepreneurial experience, mentoring, and network connections to propel their change-making journey to the next level. 

TIMELINE 

*Dates subject to change January 22, 2019 Registration opens. Students can apply at http://www.eventdex.com/BIGIDEA from January 22, 2019, through February 8, 2019. February 15, 2019 Registration closes. March 1, 2019 Student Round 1 – Executive Summary submissions are due by noon. March 22, 2019 Round 2 – 30-second video and Pitch Decks are due by noon. April 5, 2019 Semi-finalists are selected. *April 22 – 26, 2019 Round 3 - Semi-finalist students pitch their proposed THINK BIG (virtually). *May 24, 2019 Finalists are selected. *August 17, 2019 Round 4 – Finalists present their BIG IDEA at the 2019 Gateway Regional Business Conference in New Orleans, Louisiana. 

SUBMISSION REQUIRMENTS

Round 1 - Submission Requirements: Students produce an executive summary that has the following components: Þ Overview of Business Idea (100 Word Max) - This is your elevator pitch - it should quickly and concisely summarize your plan Þ Description of Product or Service (400 Word Max) – Describe the product or service. Explain the unique selling proposition, competitive advantage or a compelling idea. If your plan includes unique intellectual property, please describe. Þ Market Size / Potential / Opportunity (400 Word Max) – Explain the size of opportunity (e.g., how big is the market for your product or service?), the target audience (e.g., who will buy your product or service?) and who are your leading competitors? Note: Where possible, please provide validation via reference to 3rd party research. Þ Sales & Marketing (400 Word Max) - How would you partner with an existing small business to reach the target market with your BIG IDEA?  Bibliography (1-page Max) of all the sources cited in the executive summary.

Round 2 - Submission Requirements: 30-second video & Pitch Decks are due on March 22, 2019.

Round 3 – Submission Requirements: Round 3 has two pitch components: Þ Long Pitch: 10-minute pitch, delivered (virtually) to a panel of judges. The pitch deck will accompany the 10-minute pitch. Þ Fast Pitch: 120-second pitch, delivered (virtually) to a panel of judges. No slides will be used for the 120-second pitch. Judges will provide feedback to all pitch participants.

Round 4 – Submission Requirements: Þ Each finalist is invited to participate in the 2019 SRSMDC Gateway Regional Business Conference. All finalists will receive a 10 x 10 booth to showcase their BIG IDEA on the trade show floor. When the pitch contest begins, the format will be as follows: a. The conference DJ will present the student finalist to the audience and student will be invited to select their theme music. b. Each finalist will get 120-seconds to present their BIG IDEA. c. After all the finalists have presented their BIG IDEAS, the judges will tally the results and announce the recipients.

FAQ 

1. What are the prizes? The top prize is $4,000 with $2,500 to second place and $1,000 to the third-place winner. Winners can use the money for school, books or as seed money to help develop their THINK BIG!

2. Who is eligible to participate? The THINK BIG! Innovation Challenge 2019 is open to students at all degree and diploma-granting postsecondary education such as universities/colleges located anywhere in Alabama, Arkansas, Louisiana and Mississippi. Students’ applicants can be currently enrolled or graduating in 2019.

3. What is an appropriate scope for my topic? Start by identifying WHAT (i.e., a problem or an issue you want to solve) and then define WHO (i.e., the target population you aim to help in solving this problem) or start with WHO and then determine WHAT. The industries your pitch can support are: ● Oil and Gas ● Transportation ● Hospitality & Food Service ● Automotive ● HealthCare ● Energy ● Construction ● Maritime ● Information Technology ● Agriculture – specifically aquaculture

4. Can I reuse work I have already submitted for a course or work that I have presented/published elsewhere, or work that I have done/am doing jointly with others? You are welcome to reuse and build upon any of your own previous work. We ask that you cite all the sources that you use, including your own. If the work that you plan to reuse has contributors, you must obtain a separate written consent from each of those individuals. You must include that consent in your as part of your initial registration.

This consent must be dated before February 2019, and must explicitly specify that individual’s expectations around acknowledgment/attribution. 5. How do I cite my sources of information? Can I use external media and graphics from other reports or sources? You can follow any of the established and well-known styles (such as APA, MLA 7, MLA 8, Chicago, Harvard, etc.). Just be consistent across all your documents across all rounds of submissions. Yes, you can use external media and graphics, provided you correctly and adequately cite the source. 6. Will my submission be made public? One of the primary goals of the THINK BIG! Innovation Challenge is to facilitate learning for everyone and to contribute towards building our regional business communities. To help further these goals, we will publish the submissions of the finalists on our website. We may also post the round 1 / round 2 / round 3 / round 4 submissions of any student who submits high quality work. 7. What are the terms and conditions I need to agree to before submitting my entry? The authors of each submitted proposal will retain ownership of their entries. However, by entering the THINK BIG! Innovation Challenge 2019, you grant the SRMSDC and its respective employees, agents, and assigns a perpetual, worldwide, royalty-free, non-exclusive, and unconditional license to record, edit, modify, reproduce, copy, transmit, live stream, telecast, publish, post, broadcast, display, adapt and/or use or reuse your submitted proposal, your pitch, and any materials submitted or prepared for use in the THINK BIG! Innovation Challenge. Your name, image, voice, likeness, statements, background and biographical information in any media (including but not limited to print, electronic, video, digital, radio, television, internet, etc.) for publicity, promotion, advertising, fundraising, administrative, or educational purposes. To the extent any monies are earned as a result of the license granted, the funds shall be used to defray the costs of future THINK BIG! Innovation Challenge competitions or other such initiatives undertaken by the SRMSDC.

By entering the THINK BIG! Innovation Challenge, you acknowledge and certify that you own all of the content included in your submitted plan or otherwise have obtained any required permissions to use such material and that your submitted venture proposal does not include any content (e.g., trademarks, company names, photos, music, works of art, or images) that infringes or violates the rights of any third party. Entrants should not expect confidentiality for any data or information submitted, discussed, or presented in connection with the THINK BIG! Innovation Challenge. Due to the nature of the competition, judges, reviewers, staff, the audience or others will not be asked or required to agree to a non-disclosure agreement in connection with any pitch proposals submitted in connection with the THINK BIG! Innovation Challenge. You authorize the SRMSDC and those acting under its authority to record, broadcast and distribute via any means (e.g., print, radio, television, internet, photograph, video, audio, digital, or otherwise) your plan and your participation in the THINK BIG! Innovation Challenge, and to use your name, photograph or likeness, as well as your testimonials, quotes, comments, or biography for publicity, promotion, advertising, fundraising, administrative, academic or educational purposes. Any such recordings or broadcasts shall be the property of the SRMSDC. You release the SRMSDC, the sponsors, and those acting under their authority from liability from all claims arising out of or relating in any way to your participation the THINK BIG! Innovation Challenge. Right to Disqualify The SRMSDC reserves the right in its sole discretion to disqualify any entry it determines to be ineligible, or that does not comply with these terms and conditions. 

A pitch proposal entry that is not submitted through the designated online platform and/or does not include all of the required components and/or is not received by the SRMSDC by the applicable deadline and/or is not viewable online for any reason will be rejected automatically and will not be considered for advancement / prizes. Award Distribution Prizes may be awarded directly to the student who submitted the application who participates in the THINK BIG! Innovation Challenge. The SRMSDC reserves the right in its sole discretion to distribute the prize money as a lump-sum or in tranches, and may require the student to meet specific milestones within pre-specified time limits and provide periodic progress reports as qualifying conditions for disbursing the initial and the subsequent tracheas of the seed funding prize money. Award Obligation Monetary Prizes must be spent as seed money for a THINK BIG, school tuition or books. 8. How do I enter the THINK BIG! Innovation Challenge?

Submit your application by clicking on this link. Submission of application signifies agreement to all the conditions set forth in this document. Questions? Please email Ma’at Latham (mlatham@smsdc.org)