Rules

1. The Scheinfeld New Venture Challenge is a two-tiered business plan and pitch competition for college and high school students in Santa Barbara County. Tier One is for area college students from Santa Barbara City College and other undergraduate collegiate institutions, and Tier Two is for high school students. The competition serves as a capstone experience for SBCC students in entrepreneurship and career technical studies and for high school students participating in high school entrepreneurship programs and academies and virtual enterprise programs in Santa Barbara County. Students/Teams submit a business plan and other required forms to enter the competition. Up to ten (10) finalists are chosen to present at the competition in each tier. Three (3) winners are chosen by independent judges for each tier. Students/Teams must comply with all rules and requirements and submit required forms and paperwork as described below.

1. All participants must follow all instructions and comply with all rules or be disqualified.
2. All business ideas submitted must be an idea for a new company or an existing company in operation for less than one year.
3. Any submitted data or information shall be considered information that may enter the public realm. Protection of intellectual property or other such rights is the responsibility of each participating individual or team.
4. The organizers of the Scheinfeld New Venture Challenge reserve the right to have final discretion on all matters related to the competition.
5. Participants and teams indemnify and hold harmless the organizers of the Scheinfeld New Venture Challenge for any activity associated with the event and waive any and all claims of liability.
6. Cash, in-kind, or other awards are at the sole discretion of the organizers of the Scheinfeld New Venture Challenge and depend upon the success of fundraising efforts and sponsorship participants.
7. All participants shall behave professionally at all times and reflect positively on his/her school.
8. Participants shall adhere to a professional dress code during the entire event.
9. Participants shall attend and be on time for event check-in and event activities for which they are registered and assigned.
10. Participants shall demonstrate respect for those on stage and in the audience and will respect all public and private property at all times, including event facilities.
11. Participants adhere to the smoke-free, drug-free, tobacco-free campus rules and will be subject to disciplinary action and legal consequences for failure to comply with this rule.
12. Participants shall avoid profanity or other inappropriate behavior and demonstrate exemplary professional conduct at all times.
13. Any disregard of these rules can subject participants to disciplinary action and immediate removal from the competition.

1. Any student can participate alone as an individual or as a team member.
2. No team can have more than five members.
3. Only undergraduate college students (Tier 1) or high school students (Tier 2) are eligible as team members. All team members must either (1) have been enrolled in at least one course during the current academic year at Santa Barbara City College or another undergraduate program at a collegiate institution in Santa Barbara County, or (2) be currently enrolled in one of the area high schools. A copy of a validated student ID card for the current academic year is required for all team members, and if the student ID is not validated for the current academic year, then proof of school registration during the current academic year is additionally required.
4. Tier Two participants from the high schools must have at least one member on their team enrolled in a qualified Santa Barbara County high school entrepreneurship program or academy. If a high school student is participating as an individual, then that individual must be enrolled in a qualified Santa Barbara County high school entrepreneurship program or academy. Written verification of participation in a qualified program is required.
5. Individuals can be a member of only one team per annual competition.
6. Each team shall submit all the required forms and documents by the designated deadlines or be disqualified.
7. Each team or individual must have an Advisor. This can be a teacher, faculty member, or business mentor.

1. Each individual or team is required to submit a Registration Form (with attachments) and a Business Plan to be entered into the competition, as described below. If a participant/team is chosen as a finalist, then additional submissions for a business pitch are required.

1. 1. Completed Registration Form with attachments.
      1. Name and date of competition
      2. Team name
      3. Advisor name and signature of the advisor
      4. New venture name
      5. Names of all team members, team leader designation, and signature of team leader
      6. Attached copies of validated student IDs for the current academic year for each team member, and if the student IDs are not validated, then proof of enrollment is additionally required.
      7. For Tier Two participants, attached verification of enrollment in a qualified Entrepreneurship or Virtual Enterprise program.
      8. Certification of adherence to Official Rules.
      9. Submit the Registration Form with all required attachments on or before the stated deadline. If you submit 72 hours before the deadline, you may be given an opportunity to correct any omissions. Any Registration Form and attachments received after that point will be too late to correct any omissions, and your submission will be disqualified if it is incomplete. Therefore, early submissions are encouraged.
   2. Business Plan
      1. General Requirements
         1. Not more than 20 pages, 1.5 line spacing (8.5″x11″), including the Executive Summary and attachments/appendices.
         2. Font size no smaller than 12pt (Times or Times New Roman).
         3. Margins of one (1) inch on all sides
      2. Required Components of the Business Plan: Business plans come in many different forms, depending on whether you are using a computer program, business model canvas tools, established business plan templates, or just starting from scratch. The list below are suggested topics to include in your plan, but you must, at a minimum, submit an organized paper conveying your concept and key components of your business idea.
         1. Table of Contents
         2. Executive Summary with suggested topics:
            1. Concept & Mission
            2. Factors that prove Viability of Concept
            3. Funds Sought/Financial Summary
         3. Value Proposition with suggested topics:
            1. Identification of Problem or Pain
            2. Description of Solution, Products/Services
            3. The Value or Gain to the Customer
         4. Market Analysis & Summary with suggested topics:
            1. Market Opportunity, Channels to Customers
            2. Customer Relations
            3. Competitive Analysis and Competitive Advantage
            4. Revenue Streams
         5. Distribution & Logistics (Partners, resources, activities)
         6. Team Description / Advisory / Mentors (Why You?)
         7. Financial Plan with suggested areas to cover:
            1. Cost structure and pricing
            2. Expenses
            3. Cash flow and revenue projections
            4. Breakeven Analysis
            5. Sources and Use of Funds
         8. Proposed Offering (Equity investment, Loan)
         9. Special Considerations (Optional): Address some special considerations unique to your business such as social benefit or community involvement.
   3. The top finalists (up to ten in each tier) will advance to the final competition. Each finalist is required to submit a pitch deck by the stated deadline of no more than eight (8) to twenty (20) slides in PDF slide format that addresses the topics below in the order any order:
      1. Introduction / Opportunity / Problem
      2. Solution/Product or Service Description
      3. Market & Customer Analysis (size of market supported by research)
      4. Revenue Model / Business Model
      5. Marketing and Distribution Channels
      6. Financial Projections (revenue, costs, margins, breakeven)
      7. Team / Advisory Board
      8. Funds Needed and Use of Funds

1. There are several important registration, submission, and competition dates and deadlines from the time registration opens until the competition concludes. Participants must adhere to these important dates.

The overarching consideration by the judges is the overall viability of the idea and plan. At the collegiate level, the judges must consider the likelihood that there will be a resulting actual business in the next 12-24 months and its survivability over 3-5 years. At the high school level, the judges will assess the concept’s basic viability and the realistic potential of the idea to become an actual business. The criteria below are only as a guide to the judges for scoring during the pitch, but the ultimate decision is based on the judges’ sole and independent discretion and agreement on the first, second, and third place winners in each tier.

1. Market Value (15%)
   1. Potential value of the market
   2. Expected profitability for this market
2. Value of the Product or Service (15%)
   1. Creativity of the new product/service
   2. Customer need satisfied
   3. Receptiveness of potential customers based on market research
3. Competitiveness (15%)
   1. Potential to succeed past rival companies
   2. Potential to achieve a leadership position
   3. Timing from development to market
4. Operational Plan (10%)
   1. Production methods, Distribution and Logistics
   2. Ability to overcome potential obstacles
5. Team (10%)
   1. Leadership demonstration
   2. Demonstrates the capability required for the venture to be fulfilled
6. Capital Requirements and Financial Forecast (10%)
   1. What type and amount of capital investment is needed?
   2. Source of investment and capital requirement
   3. How the venture will be funded
   4. Timing to be financially self-supporting (cash-flow positive)?
   5. Possibility and amount of expected return
7. Overall Appeal of the Pitch & Presentation (10%)
   1. Conveyance of the vision
   2. Professional Demeanor
   3. Enthusiasm and commitment expressed
8. Overall Viability of the Concept and Plan (15%)
   1. Was the plan effective in communicating the business components?
   2. Collegiate: How likely will the business be up and running in the next 12 months?
   3. High School: How likely will this concept become a viable business?

1. Three winners will be chosen from each tier. Winners are announced at the end of each competition tier. Awards will be distributed thereafter.