Center for Entrepreneurship - Award Requirements
To launch businesses that disrupt industries and change the way we think and act, the W. P. Carey School of Business and members of the Igniter Board have partnered to ignite disruptive innovation among students at Arizona State University.
The Sun Devil Igniter Challenge:
- Seeks unproven, wild ideas with the potential to disrupt an industry
- Considers ideas and teams that develop futuristic and unusual solutions to today’s environmental and business challenges
- Invests in teams committed to exploring and validating adventurous ideas through innovative thinking and hard work
- Selects the team that demonstrates the strongest potential for a business model that is compelling and will significantly impact a market to receive investment and advisement
Timeline and Milestones
ASU students, either as individuals or teams, may submit ideas through October 20th. The Igniter Board will review the submissions and select up to five finalists to receive $5,000 seed funding for their registered business entity to achieve one or more milestones from November 17th through January 31st. Our Sun Devil Igniter – the winning finalist – will be selected by the Igniter Board at a live pitch event in February. The Sun Devil Igniter will receive a $50,000 investment in their idea and the assignment of the Igniter Board as their company board.
How To Apply
Ideas and team information must be submitted by October 20th. Your ideas should be submitted via online video (Vimeo or YouTube is preferred) and should not exceed five minutes in length. Passwords are acceptable if needed and noted in application.
Submissions should address:
- What is your business and what product/service will you offer? Please ensure this is a clear, concise, and persuasive statement.
- What is the problem you are solving or opportunity you wish to exploit? How does the industry currently operate?
- How will your product or service address this opportunity?
- Is the technology built?
- Who is the market and how big is it (i.e., market potential)?
- How much do you know about the market?
- How is your idea disruptive?
- Who are your current and potential competitors and how are you different?
- How will your product/service be monetized (i.e., how will you make your money)?
- Why do you care and how committed are you?
- Who is on your team and what value do they add?
- How would you spend the initial $5,000 to achieve a milestone? What are your key milestones?
- How would you utilize the $50,000 Igniter Board investment?