WETATi ENTREPRENEURSHIP COMPETITION DETAILS
The 2016-2017 WETATi Entrepreneurship Empowerment Competition will provide 10 winners with a business grant/ award up to the amount of $7,500.00, a minimum of $1500.00; and will receive Business Development Training from Prince George’s Community College (PGCC) Center for Entrepreneurial Development (CED).
PARTICIPANT WAIVER, CONSENT AND DISCLAIMER:
By submitting an entry to the 2016-2017 WETATi Entrepreneurship Empowerment Competition the entrant acknowledges that his/her data will be used in accordance with the awards program, structure, judging process and relevant press activities as laid out on this site. Any submissions received by WETATi Center 4 Creative Thinking, Leadership and Entrepreneurship (WC4CTLE) via email will be stored securely by WC4CTLE. WC4CTLE reserves the right to check the personal details that you have provided on your application to make sure that you meet the awards eligibility criteria. A non-disclosure agreement will be signed by all WC4CTLE and external judges involved in the process. WC4CTLE may use your information for the general marketing purposes stated above and in particular, for the promotion of WC4CTLE and the 2016-2017 WETATi Entrepreneurship Empowerment Competition. The business idea of the participant remains the property of the entrant.
The winning contestants’ (aspiring entrepreneurs) warrants and guarantees that he or she shall not directly or indirectly engage in any business investment agreement without the participation, knowledge, and the written consent of WETATi. Should you be contacted by Investors relating to your business idea, you must let us know as we are the conduit between you and the investors and our investment interest is involved. Your participation herewith is your consent to this this statement.
The winning business contestants agree to paying WETATi 10% from the proceeds of the business earning starting from the second year, 12% the third year and 15% perpetually, unless the agreement is modified in writing. This intellectual property interest is attached to this venture unless the parties workout a different agreement that must be in writing. This will help WETATi to sustain, recoup its original investment in the program, continue to fund and help others achieve their dreams of being business owners too. Even if the contestant takes the idea after winning with this platform and goes somewhere else, the interest of WETATi still follows it.
Entry must be submitted online (application).
(No hard copies will be accepted)
Anyone can apply (application) but MUST become a member of the WETATi Center 4 Creative Thinking, Leadership and Entrepreneurship (WC4CTLE) Club (membership) on the appropriate level.
WETATi members in good standing may apply.
MUST present copy of current driver’s license, current state issued ID, current student ID, or copy of a bill with your name and proper address to qualify for the appropriate membership level. You MUST attach the proper ID to your online application).
MUST register and attend FREE WETATi Entrepreneurship Competition Kick-off Event, (Competition rules and guidelines will be shared PLUS, Motivational speakers will share their expertise in the business arena.) You may attend either online or in person.
MUST develop and present a 30 second business idea elevator pitch via video to: [email protected] (required ONLY for the 18 finalists who will be notified). Applicants can select from the list of Select Fortune 500 Companies here to target and identify a problem that company may have, and for which the applicant may wish to submit a solution.
MUST have a Clear/Concise Synopsis of Business Plan/Model (no more than 3 pages in PDF format-see website for specifics). All Business Plans/Models must be the applicant's idea and owned 100% by the applicant. WETATi is not responsible for Business Plans/Models owned in part or in total by persons other than the applicant.
Please send all business plans (no more than 3 pages in PDF format) to [email protected] by 11:59pm EDT on March 20, 2017. Only the finalists will be contacted after March 20, 2017.
NO VIDEOS NEED TO BE UPLOADED TO WETATi UNLESS YOU HAVE BEEN NOTIFIED YOU ARE A FINALIST. WETATi WILL NOTIFY YOU WHEN YOU NEED TO UPLOAD YOUR 30 SECOND ELEVATOR SPEECH.
ANYONE WHO DOES NOT ADHERE STRICTLY TO THE RULES AND REGULATIONS OF THE COMPETITION WILL BE AUTOMATICALLY DISQUALIFIED. SO PLEASE PAY ATTENTION TO THE REQUIREMENTS POSTED ON THE WEBSITE.
ONLY WETATi AND ITS AGENTS WILL DETERMINE HOW THE COMPETITION IS RUN AND IS NOT OPEN TO THE DICTATES OF THE COMPETITORS OR OTHER OUTSIDE FORCES.
THE BUSINESS PLAN IS THE SOLE PROPERTY OF THE COMPETITOR.
- MUST “LIKE” and get five (5) other people to “LIKE” WETATi Fan Page on FACEBOOK and email those names for verification to [email protected] as a part of your application qualification process. MUST ALSO REACT and SHARE to AT LEAST 10-15 RELATED POSTS on the WETATi FACEBOOK PAGE PRECEDING THE CONVENTION 2017 SHOWCASE and EMAIL PROOF to [email protected].
Each of the 18 finalists will have their 30 second business idea elevator speech video posted on WETATi’s YouTube channel and shared on the WETATi Facebook fan page. (Each finalist is responsible for promoting their own video on the WETATi YouTube channel). The top 3 videos with the most “likes” or “shares” on WETATi’s facebook page, that number will be added to the designated contestant’s final score.
The 18 finalists who will be selected by WC4CTLE (via the initial judging process stated in the competition guidelines and rules will be notified via email. The final judges will consist of business owners or corporate executives who are experts in their fields.
Winners will be showcased and presented with their grants/awards on Saturday, April 22, 2017 at the WETATi CONVENTION & WETATi – Anne Reese Carswell Scholarship and Awards GALA, University of Maryland College Park, Colony Ballroom, Adele Stamp Student Union at 7pm. Winners are encouraged to be present during the announcement ceremony.
- Submissions are due by Monday, March 20, 2017 at 11:59pm (Eastern Standard Time). NO EXCEPTIONS!
POST COMPETITION BENEFITS:
Prince George’s Community College Center for Entrepreneurial Development (CED) will act as a Capacity Builder after the completion of the competition by working with the Winners to help them start, grow and succeed in their businesses.
Winners will receive business development training from CED that could prove valuable in developing successful business ideas.
- Winners will receive Certificates that will bear the names of University of Maryland Nyumburu Center, Prince George’s Community College Center for Entrepreneurial Development (CED) and WETATi.
Click Here to download a copy of the Entrepreneurship Competition Guidelines.
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