Competition Guidelines

The King’s College Entrepreneurship Prize competition will open during February 2017.

The Entrepreneurship Prize competition will be advertised online within the University and on the King’s College website, plus on noticeboards around King’s. King’s Members will be contacted by email about it.

Stage one: submission of a one-page Business Idea

Prizes of up to £1,000 will be awarded for the best business ideas.

Entrants

  1. You may enter the King’s College Entrepreneurship Prize as an individual or as part of a team.
  2. Eligible individuals must be a King’s Member: current graduate or undergraduate students, or alumni.
  3. Eligible teams may have up to 6 members. At least one person within the team must be a King’s Member and designated as the Team Leader.
  4. Entrants must not seek advice or approach the judging board individually, for the duration of the active competition. Any entrant questions should be emailed formally to for the attention of the whole judging board.
  5. Existing businesses may be entered into the competition provided that all other entry criteria are satisfied.
  6. It is the responsibility of the entrant/s to ensure that the content of their Business Idea and Plan is not subject to any rights or permissions from any other third party.
  7. Entrants may submit more than one entry per competition year. Each entry must have a separate entry form.
  8. Entrants may participate in the competition in multiple years. However, no two submissions may be identical.
  9. Entrants must abide by the Health and Safety Policy of King’s College Cambridge (available on request).
  10. For current students: participation in this competition should not be prioritised above existing academic commitments and the terms of study at the University and in College.

Entries

  1. Each proposal must be lawful and the original work of the entrant/s.
  2. All proposals will be treated per the attached statement of ethics.
  3. If you choose to submit your one-page Business Idea on paper (rather that via the website), please ensure that you complete the 2017 entry form. Each entry form must be signed and dated by each team member and sent to Amy Ingle, Development Office, King’s College CB2 1ST.
  4. The deadline for submission of your one-page Business Idea is 9am on Tuesday 7 March 2017
  5. Stage one entrants will be notified whether or not their Idea has been awarded a prize by 31 March 2017.
  6. Stage one winners will be publicised on the College website and in College communications to Members and Friends.
  7. If the Entrepreneurship Prize Board likes your idea, the owners of winning Business Ideas may be invited to prepare a full Business Plan, to present to the judges on 9 June 2017.
  8. If entrants would like feedback on a Business Idea that was not awarded a prize, they may email by no later than 30 April 2017.

Stage two: preparation and Lyons Den presentation of a Business Plan

Further investment of up to £20,000 may be awarded to your business.

Your Business Plan: the what, why, how, when and by whom. It could include:
o Business idea
o Market analysis
o Competitive landscape analysis
o Key Performance Indicators (KPIs) to include additional social impact KPIs, if relevant
o Team
o Financials
o Progress to date

  1. Winning entrants from the first round of the competition are asked to accept or decline their invitation to prepare and present a full Business Plan. There is no obligation on entrants to accept this offer. However, should they proceed with their idea in the future, the College and Entrepreneurship Prize Board would be keen to be kept informed and offered first refusal on investment opportunities.
  2. Current students must obtain the written consent of their Tutors and Directors of Studies before accepting the offer to present a Business Plan.
  3. All Business Plan submissions must relate to the Business Idea proposed in round one of the competition.
  4. Prior to the Lyons Den presentation, each applicant will be asked to submit electronically a business plan or model and also a copy of the slides or material that pertains to their presentation.  
  5. The deadline for the electronic copy of your Business Plan and related presentation material is 9am on 19 May 2017.
  6. All presentations will take place on 9 June 2017. Should it be the case that an entrant team comprises exclusively or mostly of undergraduates who have exams until early June, an exception to this presentation date may be made so as to give priority to exams.
  7. The entrant/s will give a presentation to the Entrepreneurship Prize Board of duration no longer than 10 minutes after which there will be questions and a discussion for a further 15 minutes.  
  8. Should any entrant or members of the entrant team live or be overseas at the time of the presentations, they will be required to Skype or FaceTime in (or equivalent).
  9. Stage two entrants will be notified whether or not their Business Plan has been awarded further funding by 30 June 2017.
  10. Stage two winners will be publicised on the College website and in College communications to its Members and Friends.

Post-competition

  1. King’s College asks winning entrants (the Team Leader in a team situation):
    o To participate in a winners photograph, to be used by the College in King’s communications and potential future Entrepreneurship Prize marketing
    o To write an impact statement in the 30 days following an award presentation.
    o To provide a 6-month progress update statement, to include an appraisal (and, if necessary, adjustment) of KPIs and acknowledgement of key points of learning thus far.
    o To provide an 18-month progress update statement, in line with that produced at 6-months.
    o To be willing to return to College in subsequent years to talk to other potential entrepreneurs about the Entrepreneurship Prize competition.
  2. If and when an entrant/s become successful in the future they are asked to consider supporting King’s College, by way of philanthropic investment.
  3. If further investment is required, King’s College asks the entrant/s to give members of the Entrepreneurship Prize Board first refusal to offer support in a personal capacity, independently from the College.
  4. If professional advice is sought by the entrant/team, to consider asking the Entrepreneurship Prize Board for assistance in the first instance.

Additional items

  1. The College is not obliged to accept any submissions at either round if they are received after the respective deadline.
  2. All prizes are awarded at the discretion of the judging panel. All judging decisions are final and not subject to appeal.
  3. The judging panel, the Entrepreneurship Prize Board, is determined at the discretion of the College.
  4. It is at the discretion of the judging panel regards the specific value of the funding awarded to a winning entrant/s, the date at which the funding is disbursed, and any conditions attached to its use.
  5. The College may choose to feature any participating business in future PR and marketing for the Entrepreneurship Prize.
  6. King’s College reserves the right to withdraw funding if it is not used for the purposes for which it was intended or if the Entrepreneurship Prize Board believes the use of the funding brings the Entrepreneurship Prize, King’s College or the Entrepreneurship Prize Board into disrepute.

If you would like any further information, please email enterprise@kings.cam.ac.uk