Virgin Mobile & Laureate

COMPETITION TERMS

Laureate Mexico and Virgin Mobile, institutions interested in promoting innovation and the development of ideas, and in supporting Mexican entrepreneurship, invite university students and graduates to present their business ideas of products and services that are accessible through mobile devises. It is desirable that, besides generating economic profits, these proposals also provide a social benefit.

The 3 better proposals will pass to the final stage, where one representative of each, will have the opportunity of pitching their business model to Richard Branson, founder of Virgin Group, in a great event to be held on November 19th at Monterrey, Mexico. Laureate Mexico will pay for the transportation and lodging of one representative of each of the finalist projects.

The winning team at final stage of the competition will receive MEX$200,000 (two thousand Mexican pesos).

Important Definitions:

Team: Group of people or an individual who participate in the business plan design. For this competition, a team can be composed by 1 up to 8 persons.

Team representative: 2 persons chosen by the team to represent them at the final stage.


REQUIREMENTS:

1 For the Business Plan

We are looking for business models with a high potential to generate economic return that also contributes to solve a social need.

We will give preference to the most original ideas that satisfy a market need or solve a problem.

Business plans shall not explicitly or implicitly propose a business in any of the following areas: toxic or illegal substances or products, firearms or weapons, human trafficking or abuse, intellectual property violations, breach of any laws or regulations, gambling, provision of immoral goods or services, the production or sale of tobacco or its derivatives, exploitation or sale of endangered species, and production or sale of goods or services that affect public health. Similarly, they should seek to comply with national legislation on individual, family, environmental, and intellectual property law.

2 For the Teams

The business models based on mobile devices can be developed by individuals or by teams.

Teams should select in the application form on of its members as the “team representative”. If selected, the team representative will be the person to pitch their business plan to Sir Richard Branson at the final stage event.
If the project is developed by an individual entrepreneur, he/she will be the person to pitch at the final stage.
Individual entrepreneurs and team representatives should:

  • Be older than 18 years old and younger than 30 years old.
  • Be university students or graduates of any higher education institution in Mexico.
  • Be proficient in English in such a way that would allow them to pitch their business project in that language in front of the jury at the final stage.
  • Live in Mexico.
  • One person can only represent one team in this competition, although he/she can be member of more than one team.
  • Team representatives will be designated since the project registration and cannot cede their place to anybody else for the final stage pitch.

3 For the registration

Each project should register at the website http://pitchtorichmexico.com The register has two sections intended to have the best understanding of the project by the evaluators:

  • General data form
  • Video: The competitors will send a video in which the individual entrepreneur or the team representative will make their pitch. This video should not be longer than 5 minutes. This is the first opportunity for the beginning stages judges to assess the innovation vision of the business plan, the reliability of the data, the enthusiasm, the English proficiency of the individual entrepreneur / team representative. The technical quality of the video is not a criteria to evaluate.

The video should:

  • Have a maximum duration of 5 minutes (longer videos will not be considered for the competition)
  • Show the individual entrepreneur / team representative giving its pitch originally in English (not English subtitles)
  • Uploaded to dropbox and send the link in the registration form
  • Include the following information:
    • Brief description of the project.
    • Problem or necessity that it solves.
    • Cite any advance in the intellectual property protection of the project or patents (if any).
    • At what stage is your project (idea, prototype, testing, product ready to be sold)
    • Market description and prospective.
    • Identification of the main competitors.
    • Marketing strategy.
    • Financial model in which he/she explains: investment needs; return; time to recover initial investment; estimated costs, income and profits.

A registration will only be complete and apt for evaluation when both sections of the application are complete.

IMPORTANT DATES

Application closing: September 30th 2016 at 18:00.

Finalists publication: October 31st 2016

Final stage event: November 19th 2016

Laureate México and Virgin Mobile might require further information from the candidates, eigher written, by telephone, or through a personal interview.

Are you ready to participate?

REGISTER NOW!

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