$35,000 in Prizes
Led by the Entrepreneurs’ Club, The Elevator Pitch Competition showcases the University of Ottawa’s top startups. As part of Global Entrepreneurship week, this competition allows those in businesses and social ventures with “traction” as well as entrepreneurs that are still in the early stages of validating or those who just have an idea to pitch to a panel of judges and win prize money and professional services. The online event will also include a keynote speaker who will share their personal successes and struggles as an entrepreneur.
Applications must be submitted by November 1, 2020 11:59 pm and includes both a written application and a 2-minute video pitch submission. If you are chosen as a finalist, you will have an opportunity to resubmit your video for the final event.
Final Event Date: Online November 17th, 2020 at 5:30 pm
Categories
IDEA STAGE (3 FINALISTS)
This category is designed for students who want to pitch their idea, benefiting from the pitching experience and the questions and feedback from the judges. To compete in this category you cannot have realized any traction to date such as sales or external funding, nor have you developed a final prototype or beta version. You may have started customer validation, but it’s really just an idea at this point!
Prize: $1,000 for 1st place and professional services as described in the Eligibility Criteria and Competition Details.
VALIDATION COMPETITION (3 FINALISTS)
This category is designed to encourage and reward significant validation efforts to date. These ventures are beyond concept and work is well underway to validate or build early prototypes (though customer validation is enough to enter). It’s more than just an idea, but you aren’t really rolling with customers yet, perhaps an early sale or beta client. Applicants are beyond the idea stage and will:
- Have customer validation well underway, and possibly prototypes, websites and/or beta sales.
- Not have recurring revenue, multiple or sustained sales.
- Not have received external equity funding.
Prize: $3,000 for 1st place and professional services as described in the Eligibility Criteria and Competition Details.
TRACTION (3 FINALISTS)
This category is designed for applicants whose business is further along the entrepreneurial path with their business operational or science/invention ready for commercialization. Applicants in this category already have some form of traction with their business that may include:
- Recurring or sustained sales, the business is operational.
- Science or invention is ready for commercialization.
- Strategic partners established.
- Acceptance into or completion of an accelerator or incubator program.
- External equity funding.
Prizes:
$10,000 for 1st place and professional services as described in the Eligibility Criteria and Competition Details.
$4,000 for 2nd place and professional services as described in the Eligibility Criteria and Competition Details.
$1,000 for 3rd place and professional services as described in the Eligibility Criteria and Competition Details.
Applications must be submitted by November 1, 2020 11:59 pm and includes both a written application and video pitch submission.
For more information contact daze@telfer.uOttawa.ca.
- The Elevator Pitch Competition is open to all idea stage and business or social ventures led by students currently enrolled at the University of Ottawa on a full-time or part-time basis in the current academic year.
- The competition is not open to recent graduate students, alumni, or staff.
- The company applying must have a minimum of 1 Co-Founder currently enrolled as a student at the University of Ottawa.
- Past participants are eligible to participate again provided that they satisfy all eligibility requirements.
- Applicants can apply to whichever category (but only one) they choose, however we reserve the right to place applicants in the most suitable category based on stage of idea or business. You will be notified if we choose to move you.
- International Students are also eligible to apply permitted that they satisfy the competition requirements.
- In the event that we deem that no submission has made substantial progress in achieving significant milestones or meeting our established criteria, we reserve the right to award no prize for that category.
- Money awarded will be paid first to the business entity (if applicable), or in the event that no such entity exists, divided equally among the team members identified on the application form.
- A selection committee and a panel of judges will determine the finalists and winners of the competition; as such, all applicants acknowledge and agree to the sharing of all materials submitted with the organizers of the competition, the judges and selection committee. In addition, you agree to your video submission being presented at the final event.
- By submitting an application, all applicants must confirm that the work presented adheres to the fraud policies as outlined in the Academic Regulations in the University’s Undergraduate Studies Calendar. https://www.uottawa.ca/administration-and-governance/academic-regulation-14-other-important-information.
- If selected as one of the final 3 Traction, or final 3 Validation finalists, or final 3 Idea stage finalists, you will be required to attend the final competition event online on November 17th, 2020 at 5:30pm, which will also include a live, short question and answer period.
- If selected as a finalist, you will be required to attend a practice session where feedback will be provided and preparedness will be determined the week preceding the competition. You may also have an opportunity to update and resubmit your video at this time.
Cash Prizes include:
- Idea: First place $1,000
- Validation: First place: $3,000
- Traction:
- First place: $10,000
- Second Place: $4,000
- Third place: $1,000
- People’s Choice award (open to all 9 finalists): $1,000
In addition, non-cash (“professional services”) prizes are valued at $15,000 and are subject to change based on unforeseen circumstances such as conflicts of interest, which can only be determined once the winners are established. These prizes could include:
- LaBarge Weinstein is a corporate law firm that has provided legal services to thousands of new businesses over the past 20 years. They make the process of starting a new business as stress-free as possible. To help you get started on the right track, they are offering the winner of the Traction category up to 10 hours of corporate legal services.
- Invest Ottawa delivers economic development programs and initiatives that increase entrepreneurial momentum, wealth and jobs in the City of Ottawa and its surrounding region. Invest Ottawa services include mentorship, market intelligence, office space, investor introductions, and more to accelerate the growth of existing companies. They are providing:
- 6 months office space at Invest Ottawa for up to 2 founders for the Traction category winner
- Up to 8 hours of accelerator advisory services for the Traction category winner
- Free entry into IO Pre-Accelerator for the Validation category winner
- Up to 4 hours of early-stage advisory services for the Idea category winner
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Logan Katz is a forward-thinking public accounting firm established in 1994, providing high-quality accounting, taxation, and business advisory services to corporations, organizations and individuals in a vast array of industries and ranging in size and footprint from international corporations, to locally owned and managed businesses, to professionals. They are offing the following for both the winner and runner up in the Traction category:
- Initial meeting and ongoing assistance
- Preparation of year end Notice To Reader financial statements;
- Preparation of T2 corporate tax return
- Owner/manager remuneration planning
- Up to 8 hours of bookkeeping services
- Assistance in preparation of SR&ED (scientific research and experimental development) claim (if applicable)
- In addition, the top 3 Validation Category winners will receive an initial consultation and ongoing assistance by a partner of the firm
- University of Ottawa Entrepreneurship Hub – is an interdisciplinary hub for the University of Ottawa community to enhance their entrepreneurial mindset. They are offering the following:
- The winner in the Ideation category will get their Entrepreneurial Mindset Certificate paid for by the eHub.
- The winner of the Validation and Traction category can move straight to the interview round of Startup Garage (if they have not already participated in the program).
- All finalists will be admitted into our new campus Founder program that includes connections to other founders, a weekly opportunities newsletter, access to mentor hours and space at the eHub.
