Q: If I graduate in December 2018, am I eligible to compete in the program?
A: Yes – students that are currently enrolled or were enrolled during the 2018-2019 academic calendar year, including those who graduate in December or another month, are eligible to compete in the NYBPC.
Q: Are part-time students allowed to participate in the program?
A: Yes – part-time students are allowed to participate as long as they are currently enrolled or were enrolled during the 2018-2019 academic calendar year.
Q: Can I have someone on my team pitch who isn't a student?
A: No – student(s) must be the presenter(s) in all stages of the competition.
Q: I attend a community college, can I still participate?
A: Yes – the NYBPC is open to any student attending an accredited college or university in New York.
Q: Where do I submit my application for the regional competition?
A: Go to the NYBPC website – www.nybpc.org– and select the 2019 Competition page, then look for the link that say "Apply Now".
Q: In what format may I submit my presentation for the competition?
A: Presentations must be submitted as either a PowerPoint presentation or a PDF file. These are the only formats that can be accepted and will be eligible for competition.
Q: How do I know which region my school is in?
A: The Central New York region consists of any school in Onondaga, Cayuga, Cortland, Madison, or Oswego county.
Q: How many teams will advance from the regional semifinal competitions to the statewide final competition?
A: A maximum of 2 teams from each of the 6 categories at the 10 regional semifinal competitions will be invited to the statewide final competition on April 26, 2019. There will be up to 120 teams participating in the statewide final competition, with a maximum of 20 teams in each category.
Q: Can I participate on more than one team?
A: No – students may not participate on more than one team each year of the competition.
Q: Am I allowed to form a team and work with students from other schools?
A: Yes – multiple-institution teams are allowed and encouraged, as long as the teams are made up entirely of students from accredited New York collegiate institutions that are enrolled during the 2018-2019 academic year.
A: Yes – student teams are eligible to compete in the NYBPC as long as they haven’t raised more than $100,000 dollars in cumulative public and private capital, including other business plan competitions and grant funding.
Q: My venture recently won a cash prize at another business plan competition. Are we still eligible to participate in the NYBPC?
Q: Do judges and participants sign confidentiality or non-disclosure agreements so that I don’t risk comprising the intellectual property of my idea or technology?
A: No – judges and participants do not sign confidentiality or non-disclosure agreements, just like they would in an actual investor presentation to venture capitalists, angels, and other funding parties. Entrepreneurs need to learn how to effectively pitch their idea, technology, and business model to investors without disclosing confidential or proprietary information. Teams should not include any confidential or proprietary information in their applications or presentations.
Q: If my team isn’t selected to advance to the statewide final competition, can I still attend and watch the presentations?
A: Yes – teams that participate at the regional semifinal competitions but don’t advance are invited to attend the statewide final competition in Albany, NY on April 26, 2019.
Q: If I am working with students from another institution in a different region, are we allowed to apply in both regions?
A: No – teams with students from multiple regions may only apply to and participate in one region.
Q: Will my business need to be based in New York State?
A: This is not a requirement, but many of the judges have a preference for growing in state businesses. Your company will need to be incorporated (DBA, LLC, etc.) to receive prize money.
Q: If I win the Business Plan Competition, how do I claim my prize money?
A: The prizes distributed through the Business Plan Competition are intended to help jumpstart student business ventures. If your team wins the Grand Prize or First Place prize in any of the six tracks, you must meet certain requirements to be eligible to claim your cash prize. Winning teams will work with NYBPC to develop milestones that must be fulfilled to receive the full cash prize.
If you have additional questions about the NYBPC, please contact Braden Croy