Villanova Student Entrepreneurship Competition (VSEC)

Rules & Judging

  1. Competition is open to all Villanova students. VSEC teams can include students from other institutions, but they are not allowed to present/compete in the VSEC.
  2. One person can enter the competition but we recommend that your team be comprised of 2-5 students with a maximum of 8 students.
  3. Any idea submitted to the competition must be a unique and original idea. Sub-rules include:
    • No idea can have any external funding from any agency, company, etc., regardless of whether the company or agency is for profit, non-profit, government or otherwise. No exceptions.
    • Self- funded businesses are allowed to compete.
    • Any idea that is a derivative of ongoing research at the university must be different from the proposed research of the faculty member for which the students work (or different from the students own work if funding is grant, fellowship or scholarship-based). Any idea found to be similar to a faculty member’s work which is funded will be disqualified from the competition. All conflicts of this nature will be handled on a case-to-case basis.
    • Senior projects are allowed.
  4. All deadlines must be met by the date and times listed in the Timeline/Due Dates section. All submissions after the final deadline will be disqualified, regardless of round or circumstance. If you begin your submission but do not complete by the deadline date/time, the system will not accept it. The system cannot accept submissions after the deadline date. No exceptions will be made for deadlines.
  5. No contact with internal or external judges can be made through the entirety of the competition. Any contact with judges about the competition will be considered a violation of ethics and the team will be disqualified from the competition.
  6. All submissions must adhere to the limits provided. For instance, no video pitch can be over 2 minutes. However, you may go under these limits. This applies to the final presentation as well.
  7. Student(s) must be present for the final presentation and networking reception on Thursday, April 20th.
  8. The team must abide by the Villanova University Code of Ethics. Any team found in violation of this code will be disqualified from the competition.

 

Judging Criteria

Stage 1

Video Submission – 60%

Clear, concise description of idea

Judges will assess your idea on how well you explain it in a 2 minute YouTube video (if your video is longer than 2 minutes your score in this category will be affected).

Idea benefits

Judges will assess your idea in the video based on their perceptions of its potential benefits as a product or service.

Comparison to existing devices/services/etc.

Judges will assess your idea in the video based on how well you explain why this idea, product or service is different from others in the marketplace. Additionally, they will look for evidence that you have done your research to ensure there is not already a similar, existing product or service and/or an existing patent or intellectual property.

Creativity of the video

Judges will assess your video based on the way you use the video to tell the story about your idea.

Effective use of the medium

Judges will assess your video based on how effectively you use the video to communicate your message.

Executive Summary – 40%

Clear, concise description of idea

Judges will assess your idea based on how well you explain it, using words and/or images, in the summary (summaries must be no more than 3 pages, font size between 10 – 12pt, margins between ½ inch – 1 inch, otherwise your score will be affected).

Idea benefits

Judges will assess your idea in the summary based on their perceptions of its potential benefits as a product or service.

Comparison to existing devices/services/etc.

Judges will assess your idea in the summary based on how well you explain why this idea, product or service, is different from others in the marketplace.

Market analysis

Judges will assess your idea based on how well you illustrate your industry and market knowledge as well as any of your research findings and conclusions about how your product or service will perform. Things to consider including: industry outlook, characteristics of your target market, market share potential, pricing and projected earnings and/or a competitive analysis.

Plan for development of a working prototype of product or service

You are not required to actually have a working prototype for this competition, but judges will assess your summary based on your plan to create one should your idea move forward.

Plan to implement idea

Judges will assess your idea based on your explanation of your strategy to bring your product or service to market.

Composition of team

Judges will assess your idea based on your understanding of capabilities and resources you will need to be successful and your plan to acquire these if necessary.

Stage 2

Executive Summary + Financial Table  – 40%

Sent in and judged by external judges

Clear, concise description of idea

Judges will assess your idea based on how well you explain it, using words and/or images, in the summary (summaries must be no more than 4 pages, font size no smaller than 10pt, margins at least ½ inch, otherwise your score will be affected)

Idea benefits

Judges will assess your idea in the summary based on their perceptions of its potential benefits as a product or service

Comparison to existing devices/services/etc.

Judges will assess your idea in the summary based on how well you explain why this idea, product or service, is different from others in the marketplace

Market analysis

Judges will assess your idea based on how well you illustrate your industry and market knowledge as well as any of your research findings and conclusions about how your product or service will perform. Things to consider including: industry outlook, characteristics of your target market, market share potential, pricing and projected earnings and/or a competitive analysis.

Realistic Financial Modeling

Judges will assess your financial tables based on how realistic and thorough your estimations & projections are regarding taking your idea, product or service to market

Plan for development of a working prototype of product or service

You are not required to actually have a working prototype for this competition, but judges will assess your summary based on your plan to create one should your idea move forward.

Plan to implement idea

Judges will assess your idea based on your explanation of your strategy to bring your product or service to market.

Composition of team

Judges will assess your idea based on your understanding of capabilities and resources you will need to be successful and your plan to acquire these if necessary.

Idea Feasibility

Judges will evaluate the perceived feasibility of your idea and will take questions like these into consideration when assigning a score under this metric: Would judge invest his/her own money in this venture? Does the idea appear to be technically feasible? Does it seem like a good business idea?

Presentation – 60%

Judged by external judges on campus on April 21

Clear, concise description of idea

Judges will assess your idea based on how well you explain it in your presentation.

Idea benefits

Judges will assess your idea in the presentation based on their perceptions of its potential benefits as a product or service.

Comparison to existing devices/services/etc.

Judges will assess your idea in the presentation based on how well you explain why this idea, product or service is different from others in the marketplace. Additionally, they will look for evidence that you have done your research to ensure there is not already a similar, existing product or service and/or an existing patent or intellectual property.

Creativity of the video

Judges will assess your video based on the way you use the video to tell the story about your idea.