The main goal of the RBC EPIC Business Model Canvas Competition (BMCC) is to educate entrepreneurs and provide them with tools to help launch more successful ventures. The BMCC invites student entrepreneurs to learn about business models, business model validation, and the business model canvas, and then demonstrate their understanding through a video submission of their own entrepreneurial experiences that exhibit these concepts. Semi-finalists will then be chosen to participate in live presentations based on the content of their video submissions.
Eligibility Criteria
The RBC EPIC Business Model Canvas Competition organizers recognize that no set of criteria can apply to every circumstance and therefore reserve the right to disqualify any team that it determines to be in violation of the spirit of the competition. Similarly, students who feel they fit the spirit of the competition but may be in minor violation of the eligibility criteria may submit a petition to epicentre@uwindsor.ca. All decisions will be made by the RBC EPIC BMCC organizers and are final.
Team Composition
Competing teams should consist of no more than 5 post-secondary students enrolled at least part-time at an accredited institution of higher education during the competition year. Non-students may be part of the venture but cannot participate in the competition (e.g., video submission, pitching, Q&A, etc.). The competition is for student-created and -managed ventures, including new ventures launched by licensing university technology.
Students are expected to:
- Be the driving force behind the new venture
- Have played the primary role in developing the business model
- Have key management roles in the venture, and
- Own significant equity in the venture (if allocated)
Ownership
If the company has allocated equity, then the participating team members must collectively own 20% or more of it.
Control
The student team must control a minimum of 51% of the venture’s voting rights.
Investment
No more than $100,000 will be allowed from friends and family, debt (any source – convertible, venture, traditional), accelerators, grants, and equity investments (angel and venture capital).
Nature of Venture
Ventures cannot be a buyout, an expansion of an existing company, a real estate syndication, a tax shelter, a franchise, a licensing agreement for distribution in a different geographical area, or a spin-out from an existing corporation. Licensing technologies from universities or research labs is encouraged, assuming they have not been commercialized previously.
Language of the Competition
English must be used in all competition submissions and presentations.
Prior Activity
While a venture may compete only once in the RBC EPIC BMC, team members may participate multiple times.
Prizes:
For ALL the Semi-Finalists
- $6,000 in Gift Cards: Each semi-finalist team will receive a $300 gift card to a tech retailer to use as they wish.
- EPIC Meal Delivery: Each semi-finalist team member will receive a $30 credit for meal delivery to fuel their day on November 13th.
Timeline:
- Submission Open: Monday, September 27th, 2021
- Submission Close: Sunday, October 24th, 2021, @ 11:59 PM EST
- All applicants will be contacted: Monday, November 1st, 2021
- Business Model Canvas Competition: November 12th & 13th, 2021
Apply Now for the RBC EPIC Business Model Canvas Competition (BMCC) 2021
