Skandalaris Center

The background image for the website. It is a multi colored mosaic.

 

Get help developing your new idea, invention or venture in the Skandalaris Venture Competition (SVC).

The SVC provides expert mentorship to new ventures and startups to ready them for commercializing their idea, launching, and pitching to investors. Teams will develop materials focused on explaining the idea they are working on to a broad audience. 

Teams will develop an IdeaBounce® post, a 2-minute video pitch, and a one-page written summary. If selected as a finalist, teams will create a financial projections page and pitch with slides that will be presented for a Q&A session with judges.

Up to $22,500 in awards available - Thank you to Kishore Kanakamedala and David Mandell for their support of the SVC!

Who is eligible: Any current Washington University students and all WashU alumni within one year of graduation with an early-stage venture or idea.

Timeline:

  • Applications open Monday, August 30, 2021 
  • Applications close Monday, September 13 at 5pm
  • IdeaBounce® post due Monday, September 13 at 5pm
  • 2-minute Video Pitch due Monday, September 27 at 5pm
  • Semifinalists announced Monday, October 4
  • One-page written summary due by Monday, October 18 at 5pm
  • Semifinalists Pitch on Wednesday, October 20
  • Finalists announced Wednesday, October 20
  • Revised executive summary with financial projections due Monday, November 1 at 5 pm
  • Final presentations Wednesday, November 17

 

JUDGING CRITERIA

STAGE 1                                                                                     

IdeaBounce® Post

Post your idea for a new invention, service, or startup concept

Two-Minute Video (Selection of Semi-Finalists)

Videos will be judged on the following criteria on a 1-5 scale:

1.        Problem: Clear, concise description and understanding of the problem

2.        Solution: The solution is feasible and implementation is achievable by team and highlighted collaborators

3.        Target customer: Team has spoken to potential users and has a plan for ongoing customer discovery

4.        Value Proposition: This is an original solution and differentiated from established competitors

5.        Use of Medium: Creativity of video and storytelling using this medium

 

STAGE 2 (Semifinalists)  

Executive Summary

Executive Summary will be written on the following criteria:

      • Problem: Clear, concise description and understanding of the problem
      • Solution: The solution is feasible and implementation is achievable by team and highlighted collaborators
      • Target customer: Team has spoken to potential users and has a plan for ongoing customer discovery
      • Value Proposition: This is an original solution and differentiated from established competitors
      • Minimally Viable Product or Service: Team has a plan for development of a working product or service.
      • Resource Support: Team has pursued other avenues for funding and resources, including non-WashU entrepreneurship competitions (https://skandalaris.wustl.edu/resources/external-competitions/). Teams who have entered an external competition will receive Executive Summary will be judged on the following criteria on a 1-5 scale: 4 points, teams who have won one will receive 5 points.
      • Team: The team understands their capabilities and has a plan to fill knowledge gaps. Diversity of disciplines encouraged.

 

Presentations (Selection of Finalists)

Teams will be judged on the following criteria on a 1-5 scale:

1.        Problem: Clear, concise description and understanding of the problem

2.        Solution: The solution is feasible and implementation is achievable by team and highlighted collaborators

3.        Target customer: Team has spoken to potential users and has a plan for ongoing customer discovery

4.        Value Proposition: This is an original solution and differentiated from established competitors

5.        Minimally Viable Product or Service: Team has a plan for development of a working product or service. 

 6.    Team: The team understands their capabilities and has a plan to fill knowledge gaps. Diversity of disciplines encouraged.

 

STAGE 2 (Finalists)                                                                   

Written Summaries (40% of final score)

Summaries will be judged on the following criteria on a 1-5 scale:

1.        Problem: Clear, concise description and understanding of the problem

2.        Solution: The solution is feasible and implementation is achievable by team and highlighted collaborators

3.        Target customer: Team has spoken to potential users and has a plan for ongoing customer discovery

4.        Value Proposition: This is an original solution and differentiated from established competitors

5.        Industry Trends: There is demand for this solution, there is a significant market, and potential positive impact to society.

6.        Minimally Viable Product or Service: Team has a plan for development of a working product or service. 

7.        Financial Modeling: Pricing, marketing, sales, revenues, and investment needed are realistic.

8.        Traction: Team has established and is meeting milestones, including having paying customers and/or partnerships. There is a clear plan for future growth.

9.        Resource Support: Team has pursued other avenues for funding and resources, including non-WashU entrepreneurship competitions (https://skandalaris.wustl.edu/resources/external-competitions/). Teams who have entered an external competition will receive 4 points, teams who have won one will receive 5 points.

10.  Team: The team understands their capabilities and has a plan to fill knowledge gaps. Diversity of disciplines encouraged.

 

Final Presentations (60% of final score)

Teams will be judged on the following criteria on a 1-5 scale:

1.        ­Problem: Clear, concise description and understanding of the problem

2.        Solution: The solution is feasible and implementation is achievable by team and highlighted collaborators

3.        Target customer: Team has spoken to potential users and has a plan for ongoing customer discovery

4.        Value Proposition: This is an original solution and differentiated from established competitors

5.        Industry Trends: There is demand for this solution, there is a significant market, and potential positive impact to society.

6.        Minimally Viable Product or Service: Team has a plan for development of a working product or service. 

7.        Financial Modeling: Pricing, marketing, sales, revenues, and investment needed are realistic.

8.        Traction: Team has established and is meeting milestones, including having paying customers and/or partnerships. There is a clear plan for future growth.

9.        Team: The team understands their capabilities and has a plan to fill knowledge gaps. Diversity of disciplines encouraged.

10.    Presentation: Team presented confidently, answered questions effectively, and has the motivation to succeed.

Contact the Skandalaris Center with questions: sc@wustl.edu.