Entries open for eighth annual Monfort College of Business Entrepreneurial Challenge $50K pitch

Tuesday October 11, 2016 0 comments Tags: Greeley, UNC, Monfort Entrepreneurial Challenge, Monfort College of Business, David Thomas

GREELEY -- Emerging Colorado entrepreneurs are invited to apply to win part of $50,000 in prize money offered at the eighth annual Monfort College of Business  Entrepreneurial Challenge at the University of Northern Colorado.

Applications are now available at http://mcb.unco.edu/e-challenge/ and will be accepted until Nov. 30.

The competition is open to pre-launch or early-stage Colorado-based startup ventures. UNC said the ventures should have a written business plan demonstrating that they’ve conducted market research and piloted their business concepts to a representative test market.

The next step for competitors is to secure early-stage funding.

“It’s incredible to think this program has provided prize money totaling $350,000 to local entrepreneurs since its inception,” said David Thomas, assistant professor of management and director of the Entrepreneurial Challenge.

“The Monfort College of Business is proud and honored to be a catalyst and launch point for these aspiring entrepreneurs.”

The winner will receive $25,000, second place $15,000 and third-place prize is $10,000. In addition, winners will receive business incubator services from UNC BizHub, the business incubator at the University of Northern Colorado.

Ventures selected as preliminary Challenge semi-finalists will be notified by Dec. 7. All semi-finalists will present their business concept to a panel of experts on Jan. 31 at the University Center at UNC.

Five finalists will then be selected and invited to present their business plan in a “Shark Tank” format during the Monfort College of Business Entrepreneurial Challenge on March 30, UNC said.

This year’s E-Challenge winners included:

Aerosol Devices (Fort Collins): An advanced scientific instrument for the collection of airborne particles for physical, chemical and biological analysis. Aerosol Devices is bringing advanced aerosol collector technology to market to create better samples for better analysis in the lab.

NerdNest (Denver): An innovative, engaging and fun social media site targeting female fans to create and share their favorite, nerd-based fandom content including photos, gifs, videos and written content related to fandom.

The Food Corridor (Fort Collins): The first online marketplace for food businesses to find commercial kitchen space, enabling efficiency, growth and innovation in the food system.