big idea competition
THE BIG IDEA
Submit a business idea that solves a problem and makes a difference for a chance to win the $1,000 first-place cash prize and get feedback from our vetted entrepreneurial judges.
To submit for the Big Idea Competition, please follow the steps below.
- Create an account on our byucet.org portal using your netid@byu.edu email address
- Create a new business (your Big Idea) under the Business Management tab
- Once inside, set up your personal profile
- Under the Programs tab, select Big Idea Competition
NOTE: If you want to add more members to your team, you can use the "Invite Member" button on the Business Management tab after you create a new business. If they are a BYU student, you will want to invite them using their netid@byu.edu email address.
P.S. - USE A LAPTOP TO ACCESS THE BYUCET.ORG PORTAL. If you do not receive the confirmation email from the system with the OPT (one time password), please check the junk folder inside your @byu.edu email account. You can also check BYU's spam filter at filter.byu.edu. If you experience any other issues, please email bigidea@byu.edu.
SUBMIT YOUR IDEAP.S. - USE A LAPTOP TO ACCESS THE BYUCET.ORG PORTAL. If you do not receive the confirmation email from the system with the OPT (one time password), please check the junk folder inside your @byu.edu email account. You can also check BYU's spam filter at filter.byu.edu. If you experience any other issues, please email bigidea@byu.edu.
THIS YEAR'S GRAND PRIZE
$1,000
HOW TO COMPETE
STEP 1
Research
Grab the Big Idea Canvas, check out previous top pitches, and start exploring problems that need solving:
1. Understand the problem; be able to succinctly describe it
2. Describe your solution and why it's feasible
3. Know your target market & their needs
1. Understand the problem; be able to succinctly describe it
2. Describe your solution and why it's feasible
3. Know your target market & their needs
STEP 2
Submit
Winning pitches tell a story that captures judges' attention. If you use slides, use three, one for each judging criteria.
Submit a 90-second video selling your idea that’s been uploaded to Youtube.
Make sure to mark it as unlisted, NOT private.
Submit a 90-second video selling your idea that’s been uploaded to Youtube.
Make sure to mark it as unlisted, NOT private.
STEP 3
Pitch
Come to the big finale, the Big Idea Jam, where our top 20 selections will present their ideas to a panel of judges and live student audience.
Come prepared to network with experienced business people, get valuable feedback, and meet other Creators who can help you bring your idea to life.
Come prepared to network with experienced business people, get valuable feedback, and meet other Creators who can help you bring your idea to life.
OTHER INFO
Criteria
To evaluate your idea, judges will use the following criteria (and you should too!):
1) Problem/Opportunity - Do you provide evidence and validation of a significant, painful problem or opportunity for innovation?
2) Solution/Feasibility - Do you provide a creative, unique solution to the problem or for the opportunity? Is your solution feasible?
3) Market/Scalability - Do you identify a significant market, with a clearly defined customer affected by the problem or interested in the opportunity? Is the market big enough that the solution can scale?
1) Problem/Opportunity - Do you provide evidence and validation of a significant, painful problem or opportunity for innovation?
2) Solution/Feasibility - Do you provide a creative, unique solution to the problem or for the opportunity? Is your solution feasible?
3) Market/Scalability - Do you identify a significant market, with a clearly defined customer affected by the problem or interested in the opportunity? Is the market big enough that the solution can scale?
criteria
Prizes
The top 20 teams will receive the following cash prizes to validate their idea further:
First: $1000
Second: $800
Third: $600
Fourth: $500
Fifth: $400
Remaining Top 10: $300 each
First: $1000
Second: $800
Third: $600
Fourth: $500
Fifth: $400
Remaining Top 10: $300 each
prizes
Dates
Mark your calendars!
Sep 08, Submissions Open
Oct 22, Submissions Close, before midnight
Oct 28, Top 20 announced & invited to pitch at the Finals, via email
Nov 1, Final Event, 2:30 pm, Varsity Theatre
Sep 08, Submissions Open
Oct 22, Submissions Close, before midnight
Oct 28, Top 20 announced & invited to pitch at the Finals, via email
Nov 1, Final Event, 2:30 pm, Varsity Theatre
dates
PAST PITCHES
Check out a previous year's big ideas and top pitches
FAQS
Email us at bigidea@byu.edu
with additional questions
with additional questions
If I share my idea in the Competition, can someone steal it?
Judges and mentors are wholly committed to helping you succeed. Over our history, we cannot identify a single instance where a student’s idea was stolen as a result of participating in this competition.
However, if you have an idea that you hope to sell internationally, we recommend you file for a provisional patent. Join Creators to get access to our legal and IP mentors who can help you do that.
However, if you have an idea that you hope to sell internationally, we recommend you file for a provisional patent. Join Creators to get access to our legal and IP mentors who can help you do that.
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I don’t have a “change the world” idea. Should I still submit it?
Absolutely! The uniqueness of your idea is not as important as your ability to successfully understand and solve a customer problem. Solving problems may be as simple as offering an easier way to find parking, buy contact lenses, or get great pizza in Provo.
How do I get mentoring?
The Creators membership comes with access to our mentor network of seasoned entrepreneurs and tech professionals.
Can I submit more than one idea?
Yes you can! However, only one of your ideas can be selected into the Top 20. This means that if you are on two separate teams, and both teams’ ideas end up in the Top 20 after the preliminary judging round, then only the higher scoring idea will be allowed to participate at the Final Event.
How do I know if I have a good idea?
No idea is perfect. And great entrepreneurs learn to fail early and often. The Big Idea Competition offers a unique opportunity to get feedback from successful entrepreneurs about your idea. This feedback can help you make necessary changes to improve your idea and ensure you’re making the most of your limited time.
You should also consider using the Big Idea Canvas to gauge how much potential your idea has https://www.bigideacanvas.com/
You should also consider using the Big Idea Canvas to gauge how much potential your idea has https://www.bigideacanvas.com/
If I don’t win, does that mean my idea wasn’t good?
No, not necessarily. The judging criteria rewards those who clearly articulate the problem, solution, and market.
What if someone tells me I have a bad idea?
We strongly encourage you to use the Big Idea Canvas as a tool to evaluate your idea. You can also ask yourself the following questions:
+ Do I see evidence of a “pain” people are trying to solve?
+ After 30-60 minutes of searching online, did I find any products or services that address the customer pain?
+ Could I do a better job addressing the customer pain than what is already offered? How? Why?
+ How big is the potential market for this product?
+ How can I take my idea to market?
+ Another great way to evaluate your idea is to watch and compare yourself to past winners (see video above from our 2020 Final Event)
+ Do I see evidence of a “pain” people are trying to solve?
+ After 30-60 minutes of searching online, did I find any products or services that address the customer pain?
+ Could I do a better job addressing the customer pain than what is already offered? How? Why?
+ How big is the potential market for this product?
+ How can I take my idea to market?
+ Another great way to evaluate your idea is to watch and compare yourself to past winners (see video above from our 2020 Final Event)
Am I eligible to enter the competition?
Eligibility is determined by these eight areas:
Ownership: If equity has been assigned, a minimum of 20% of the company must be owned by current BYU students (see definition below).
Control: Current BYU students (see definition below) must control a minimum of 51% of the company’s voting rights at the time of application.
Management: Seed Grants are for student-created and student-managed ventures, as such student participants should fill key management roles (Presidency or C-Suite) in the venture.
Revenue: Ventures with cumulative revenues of more than $100,000 are *not* eligible to apply. This includes proceeds from crowdfunding (Kickstarter, IndieGoGo, etc.).
Investment: Companies who have received $250,000+ of investment are *not* eligible to apply.
Prior Participation: Teams may resubmit businesses that have been submitted previously.
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 (eg. tech transfer) from universities or research labs is encouraged, assuming they have not been commercialized previously, but must clearly indicate what was provided by the licensing agreement (patents, partnerships, etc.) before student involvement.
Current Student Status: Qualifying BYU-Provo students must be degree-seeking students enrolled in at least 6 credit hours for undergrads or 3 credit hours for grads in the semester when applying for the grant. Online courses will only count toward the minimum credit requirement if they fulfill graduation and degree-specific requirements.
Ownership: If equity has been assigned, a minimum of 20% of the company must be owned by current BYU students (see definition below).
Control: Current BYU students (see definition below) must control a minimum of 51% of the company’s voting rights at the time of application.
Management: Seed Grants are for student-created and student-managed ventures, as such student participants should fill key management roles (Presidency or C-Suite) in the venture.
Revenue: Ventures with cumulative revenues of more than $100,000 are *not* eligible to apply. This includes proceeds from crowdfunding (Kickstarter, IndieGoGo, etc.).
Investment: Companies who have received $250,000+ of investment are *not* eligible to apply.
Prior Participation: Teams may resubmit businesses that have been submitted previously.
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 (eg. tech transfer) from universities or research labs is encouraged, assuming they have not been commercialized previously, but must clearly indicate what was provided by the licensing agreement (patents, partnerships, etc.) before student involvement.
Current Student Status: Qualifying BYU-Provo students must be degree-seeking students enrolled in at least 6 credit hours for undergrads or 3 credit hours for grads in the semester when applying for the grant. Online courses will only count toward the minimum credit requirement if they fulfill graduation and degree-specific requirements.
How can I show slides in my video submission?
If you want to use slides in your pitch video, the recommended method is to record oneself on Zoom, or a similar platform/tool, and share your screen. You can then download the corresponding video and upload it to YouTube. There is also a way to record a slide show with narration in PowerPoint. You can find a walkthrough from Microsoft by googling "record a slide show with narration".
