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Q&A about $10,000 pitch contest open to any Montclair State student

Posted in: Events, Young Entrepreneurs

We have received questions about the $10,000 student pitch contest at Montclair State, which will be open to any Montclair State student in 2017. More info below about the Bright Ideas Inventors Day for Aspiring Entrepreneurs $10,000 student team pitch contest. Here are answers to specific questions we have received, with answers from Sharon Waters, program manager at the Feliciano Center for Entrepreneurship:

Q: Is the competition about who has the best, new, innovating product/idea or is it only on how well we pitch our product?
A. Both are important. If I had to pick one as more important, I’d say the the idea is more important. We want teams that pitch well to be moving on to the later rounds, but if a team has the most flawless style of pitching but has a horrible idea, that team would be less likely to advance.

Q: Do the winners have to sell the idea to the judges in the end?
A: Yes, ultimately each team is selling the judges on the idea, including how creative and viable the idea is, and whether it solves a real-world problem.

Q: What should go in the 2 minute video? Do you want all team members visible and speaking about the idea or can we have only our voices explaining our product in a PowerPoint presentation?
A: The 2-minute video should capture the essence of what your entrepreneurial idea is, and what problem it is solving. Since we asked for a video (vs an audio), we’d like to see the students pitching. It shouldn’t just be audio added to a PowerPoint.

Q: Do we need a prototype of our idea?
A: A prototype is not required, but it helps the judges visualize and understand the idea, which could be an advantage.