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Apply to the 2024 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

  1. Attend a Startup Challenge Workshop

  2. Choose your division

  3. Complete the application

  4. Pay your application fee

If you have any questions, email info@startupmontereybay.com 

Learn About Startup Challenge

How the Startup Challenge Works

How to Apply to the 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

Saturday, March 2nd

1 – 2:30 PM PT

ONLINE

Saturday, March 2nd

1 – 2:30 PM PT

MONTEREY

Monday, March 4th

6 – 7 PM PT

ONLINE

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

Are students of any grade level allowed to enter the Challenge?

Middle school through university graduate students are eligible to enter any of the divisions of the Startup Challenge.

My business is still in the idea stage, can I still participate?

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.

I have customers in areas outside of San Benito, Santa Cruz and Monterey counties. Am I still eligible to compete?

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.

Is there an advantage to being a business that appeals to tri-county area needs, such as agriculture, marine life, etc?

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.

My company has been established for 4+ years. Can I still enter the competition?

No, your company cannot be established for more than 2 years, nor have more than $500,000 in cumulative revenues.

What is considered "original work?"

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.

I have more than one business idea, can I enter all of my ideas?

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.

Does my company have to have a physical address in Monterey, San Benito or Santa Cruz counties, or can we plan to do business there?

The purpose of this competition is to create new businesses and jobs in this region so you need to be located in this region.

Can I submit the same business in different divisions?

No, you cannot submit the same business in more than one division.

What is Social Venture?

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.

What is the purpose of the Startup Challenge Monterey Bay?

The purpose of this competition is to create new businesses and jobs in this region so you need to be located in this region.

If I'm in the starting stage and the business hasn't launched, how do I show validation?

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.

I've submitted my application but have changed my mind about aspects of it, am I obligated to stick with what I wrote in my application?

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.

I have a successful business in two stores and would like to start a franchise based on this business. Should I compete in the Venture Division?

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.

Will judges sign a non-disclosure agreement? Can I ask them to?

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!

Is there protection against someone stealing my idea?

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.

Is there protection against someone stealing my idea?

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.

Will there be workshops offered to help me prepare my pitch?

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.

What materials am I required to submit for this round?

You will need to prepare a business pitch, executive summary, and a pitch deck.

Is it possible to view past winner's pitches?

You can view a selection of past pitches in action here. 

What resources are available to help me prepare for the final round?

Finalists will have access to pitch workshops and a business expert mentor.

What are the judging criteria for this competition?

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?