What it is
The Next Big Entrepreneur is an opportunity for young aspiring entrepreneurs to take their business idea or active business to the next level. This is your opportunity to show us why your business or business idea is ready to expand or launch. Young aspiring entrepreneurs from all around California are tasked with showing us what your business or business idea is all about and what it brings to the table. Participants will submit a 2-minute fast pitch video. If you are chosen among the top competitors, you will:
- Qualify to compete for free at the statewide competition for a chance to win up to $5,000 to fund your business!
- Have free access to LivePlan, an online business plan development software, to launch your business.
- Get free 1 on 1 consultation services from entrepreneurs and business professionals to build and expand your business.
- Be prepared to compete effectively against aspiring entrepreneurs from around the state of California
How to Participate
Participating in the Next Big Entrepreneur is easy! All you need to do is:
- Meet eligibility requirements:
- All participants must be between the ages of 14 to 27.
- Your business may range in development from concept/idea to active businesses in early stage of development.
- The business must be or will be based within the state of California.
- If you meet the eligibility requirements, then here is what you need to do next!
- Attend the “The Two-Minute Video Pitch” in December. Date and time: TBD
- Create a 2-minute video pitch. When you start planning your video, consider the following:
- Your video does not need to be elaborate to be competitive. We are looking at how you pitch your business or business idea not fancy graphics or effects, although you are welcome to use them.
- The video must be (2) minutes or under in length.
- Talk about your company! Make sure to mention the basics:
- What is the name of your company?
- What product or service does your company offer? What do you do?
- Identify the demand/need your product or service fills
- Who is your competition? What does your target market look like?
- How are you different? How will you differentiate yourself from the big players in your industry? What competitive advantage do you have?
- Where do you anticipate your company will be in 3 years? What are your projections for a return on investment?
- What makes you and/or your team qualified to lead this company to success?
- Submit your two-minute video to the Next Big Entrepreneur Submission Page (Link active from January 1st, 2013 – January 31st, 2013). When submitting your video, you will need to provide all requested information on the online form for consideration in this competition.
How to Advance in this Competition
- Our panel of judges, profiles coming soon, will go through the entire list of submissions and identify the businesses with the greatest potential for success.
- Our panel of judges will be asked to choose up to 30 participants that will move forward and receive the additional services mentioned above. Although there are 30 slots available, please note that we will not necessarily accept 30 participants. The final number accepted will depend on the quality of submissions and the resources available.
- Those chosen will be notified privately and announced publicly on Friday February 15th, 2013 via the YEP website.
- If chosen, you will be asked to commit to the free YEP coaching program in preparation for the statewide competition in the spring. Please note that participation in the state competition, for free , is contingent on completing the freeYEP coaching program that will prepare you for the competition. This coaching program consists of the following:
- Complete a Business Plan via the LivePlan online system.
- Attend YEP 2.0 Seminar Series in the Spring of 2013. The YEP 2.0 Seminar Series will be held at Rancho Santiago Community College District Offices in Santa Ana, CA. Please ensure you can attend these sessions.
- Participate in 1 on 1 consultations with experienced local entrepreneurs that will serve as mentors for you and your business. (Optional)