Apply to the Challenge
STARTUP CHALLENGE MONTEREY BAY PRIZES
Venture Division Grand Prize:
Runners up (2):
Main Street Division Grand Prize:
Runners up (2):
Social Venture Division Grand Prize:
Runners Up (2):
Student Division Grand Prize:
$10,000
$2,500 each
$5,000
$1,500 each
$5,000
$1,500 each
$1,000
Steps to Compete
Attend a Startup Challenge Workshop
Choose your division
Complete the application
Pay your application fee
If you have any questions, email info@startupmontereybay.com
Learn About Startup Challenge
Startup Challenge Workshops
Startup Challenge offers free workshops to help you to apply, prepare to pitch, and develop key aspects of your business. Learn all about the 2024 Startup Challenge Monterey Bay, the benefits of participating, and how to apply at one (or more) of the workshops
Workshops schedule
DATE
TIME
LOCATION
LINK
CHOOSE YOUR DIVISION
Venture
Open to businesses intended to scale and provide venture-investor level returns.
Application fee: $50
Social Venture
Open to for-profit and not-for-profit businesses with a significant social mission.
Application fee: $25
Main Street
Open to small businesses and sole proprietorships.
Application fee: $25
Student
Open to all students in middle school through graduate schools.
Application fee: FREE
Frequently Asked Questions
WHO SHOULD COMPETE
Middle school through university graduate students are eligible to enter any of the divisions of the Startup Challenge.
Your product can be in the idea stage as long as you have a developed plan for the business. The Challenge is here to help you develop your idea into a successful startup business.
Your customers can be anywhere but your business must be based in the tri-county area (Monterey, San Benito, or Santa Cruz counties) or in the Gilroy area.
There is no advantage in being a business related to agriculture, marine life etc. We want to expand the economy in all industries in the tri-county area.
No, your company cannot be established for more than 2 years, nor have more than $500,000 in cumulative revenues.
Original work means that the business needs to be your own (or your team’s); you cannot pitch someone else’s business, and it also cannot be a franchise of another business. For example, pitching a new McDonald’s franchise would not be allowed. You could, however, pitch a business in which you intend to sell franchises.
Yes! You may enter different ideas. It is a lot of work to submit more than one idea so we recommend no more than two, however, if you feel you can manage more than two, go for it! You may not, however, enter the same business in multiple divisions.
The purpose of this competition is to create new businesses and jobs in this region so you need to be located in this region.
APPLICATION
No, you cannot submit the same business in more than one division.
A Social Venture is an organization that is focused on its social mission — for example solving homelessness, making potable water available around the world, ending global warming, contributing to environmental quality. It can be a for-profit or not-for profit organization. Common forms are 501c(3) not-for-profit organizations for not-for-profits and Benefit Corporations for for-profit Social Ventures.
The purpose of this competition is to create new businesses and jobs in this region so you need to be located in this region.
There are a variety of ways to provide evidence that your business idea and business model can gain traction in the marketplace. Surveys, speaking with potential customers, experts in the field, data that others have collected, experiments and other ways of showing evidence are appropriate.
No, you are not obligated to what you wrote in your application. We encourage you to evolve and keep changing throughout the entire process. Let us know what you have changed and why you changed it – that demonstrates that you are continuing to think through and learn about your business. Our contact email address is info@startupmontereybay.com.
Yes, this new franchise business would be in the Venture Division. You can pitch a business that you are going to franchise to others; but you cannot pitch a business that you are franchising from another company. You can’t pitch a McDonald’s franchise.
QUALIFYING ROUND
We do not ask our judges to sign a non-disclosure, but we do ask them to sign an agreement that the businesses pitched in the Startup Challenge are the intellectual property of the business owners. You should never tell others how you make your Secret Sauce, but you should tell them that you are making it and how wonderful it is!
The pitches for the Startup Challenge are public and you should take reasonable precautions not to include proprietary information in your pitch. That said, the success of most ideas lies in the execution, not in the idea itself. Pitch your idea and how it will change the world; don’t give away the intellectual property that makes your idea work.
The pitches for the Startup Challenge are public and you should take reasonable precautions not to include proprietary information in your pitch. That said, the success of most ideas lies in the execution, not in the idea itself. Pitch your idea and how it will change the world; don’t give away the intellectual property that makes your idea work.
Yes there will be workshops offered to all qualifying round participants. You will receive an email notifications of the workshop schedule and how to register.
You will need to prepare a business pitch, executive summary, and a pitch deck.
FINAL ROUND
You can view a selection of past pitches in action here.
Finalists will have access to pitch workshops and a business expert mentor.
You will be judged on the following business criteria:
- Problem and Solution
- Market
- Revenue and Fundraising Strategy
- Go-To-Market Strategy
- Competition
- Financials and Economics
- Team
- Pitch Structure
- Ability to Engage Audience
- Pitch Clarity
- Passion and Enthusiasm
Still Have Questions?
Contact us at info@startupmontereybay.com
