Additional Rules and Regulations
With the exception of the Internal University of Idaho Revenue Enhancement track, only plans for new ventures or for the growth and expansion of an existing business using a new business model may be submitted. The new business model may consist of expansion by a franchise system, eCommerce model, international expansion, etc. The existing business should be at least one year old and undergoing growth.
The aim of the business plans for the innovative ventures and small business plan tracks is to promote marketable ventures that have the potential to attract funding. Each student on the team needs to have been instrumental in conceiving the venture or developing the business plan. Ideally, the proposed venture must show that student team members will have the opportunity to own equity in the venture (non-profit plans 501(c)(3) are exempt from the equity requirement). Student ownership in the venture is expected and teams should include a statement about ownership options and equity positions for students.
Teams are required to attend the awards presentation to be eligible to receive awards.