The Challenge 2019 - Overview
The BYU MS Asia, BYU Provo and the BYU Hawaii Willes Center for International Entrepreneurship are pleased to announce The Challenge-2019. The Challenge is where Great Ideas are grown and the awarded.
Who Can Compete?
Anyone in the Asia Area can compete. There does not need to be a BYU MS now in your area, nor do you need to be a BYU Student, a former BYU student or even a graduate of a University. This competition is open to all - old and young alike, including those with and without business experience. You can apply individually or as a team and you do not need to attend the BYU MS conference in Mongolia. Those finalist who cannot personally attend the BYU MS Conference in Mongolia we will set up an online session with the judges.
The judging will focus on idea uniqueness, idea feasibility and idea development.
How It Will Work?
Each participating chapter will hold Phase 1 of the competition and then send their winners or winning team proposals on to Phase 2 to be judged by a series of BYU approved Remote Judges. Those that pass the Phase 2 of the competition and go on to Phase 3, will be in the finals to be held at the BYU MS Asia Area Conference in Mongolia in May 17-18, 2019.
Areas that do not have an established BYU Managment Society to participate. If there is no BYU MS in the area, we will assign either a mentor or an organization to help with the challenge.
Anyone in the Asia Area can compete. There does not need to be a BYU MS now in your area, nor do you need to be a BYU Student, a former BYU student or even a graduate of a University. This competition is open to all - old and young alike, including those with and without business experience. You can apply individually or as a team and you do not need to attend the BYU MS conference in Mongolia. Those finalist who cannot personally attend the BYU MS Conference in Mongolia we will set up an online session with the judges.
The judging will focus on idea uniqueness, idea feasibility and idea development.
How It Will Work?
Each participating chapter will hold Phase 1 of the competition and then send their winners or winning team proposals on to Phase 2 to be judged by a series of BYU approved Remote Judges. Those that pass the Phase 2 of the competition and go on to Phase 3, will be in the finals to be held at the BYU MS Asia Area Conference in Mongolia in May 17-18, 2019.
Areas that do not have an established BYU Managment Society to participate. If there is no BYU MS in the area, we will assign either a mentor or an organization to help with the challenge.
Deadlines:
Phase 1 - April 15th, 2019 - Each participating area to send their winner entries to BYUMSAsia.TheChallenge@gmail.com Each area winners will be sent to the remote judges. Note that each winner entry will need to have a 2 minute video with the business plan (see plan information in this packet)
Phase 2 - May 6th, 2019 - Remote Judging - Finalist will be announced by email and also on the BYU MS Website. Those who are not attending the BYU MS Mongolia Conference will be assigned a time for their verbal presentations.
Phase 3 - May 17th and 18th, 2019 in Ulaabaatar Mongolia. - Winners will be announced at the closing session of the conference.
Phase 1 - April 15th, 2019 - Each participating area to send their winner entries to BYUMSAsia.TheChallenge@gmail.com Each area winners will be sent to the remote judges. Note that each winner entry will need to have a 2 minute video with the business plan (see plan information in this packet)
Phase 2 - May 6th, 2019 - Remote Judging - Finalist will be announced by email and also on the BYU MS Website. Those who are not attending the BYU MS Mongolia Conference will be assigned a time for their verbal presentations.
Phase 3 - May 17th and 18th, 2019 in Ulaabaatar Mongolia. - Winners will be announced at the closing session of the conference.
Judging and Award Categories
Revenue -
This will be for companies that are already operating and have over 1,000 USD in revenue over the last year and total overall revenue of 10,000 USD. This category specifically looks at companies that are currently operating. The category will looks at ways they are can or are looking to innovate their company. A submission can be an original idea that has yet to be executed or an original idea that has been deployed into the company.
Pre- Revenue -
Any idea of company that has produced less than 1,000 USD of revenue over the last year or the lifetime of a company. The Pre-Revenue category focuses mainly on the ideas. Submissions do not need to have a company to be in this category. The ideas can be something completely new or something that is being tried but has not yet generated more than $1,000 USD in revenue.
Impact -
Any idea or company gives a valued impact in either social, economical or environmentally. Revenue is not a factor in this category but what is important is the impact it will have and showing how this impact can help socially, economically or environmentally. This can be a new idea but n needs to show the impact it will have socially.
Hometown Award -
There will be an award as the hometown favorites. This means that the hometown, which this year is Mongolia will be able to send in 5 extra business plans under this category. They can be either revenue or non revenue or can also have a social, economical or environmental impact.
Young Entrepreneurs -
Those areas that want to participate can open up the challenge to Young Entrepreneurs who are between the ages of 12 to 18 years old. Each Young Entrepreneur must have a mentor assigned to them to help them through the process.
Revenue -
This will be for companies that are already operating and have over 1,000 USD in revenue over the last year and total overall revenue of 10,000 USD. This category specifically looks at companies that are currently operating. The category will looks at ways they are can or are looking to innovate their company. A submission can be an original idea that has yet to be executed or an original idea that has been deployed into the company.
Pre- Revenue -
Any idea of company that has produced less than 1,000 USD of revenue over the last year or the lifetime of a company. The Pre-Revenue category focuses mainly on the ideas. Submissions do not need to have a company to be in this category. The ideas can be something completely new or something that is being tried but has not yet generated more than $1,000 USD in revenue.
Impact -
Any idea or company gives a valued impact in either social, economical or environmentally. Revenue is not a factor in this category but what is important is the impact it will have and showing how this impact can help socially, economically or environmentally. This can be a new idea but n needs to show the impact it will have socially.
Hometown Award -
There will be an award as the hometown favorites. This means that the hometown, which this year is Mongolia will be able to send in 5 extra business plans under this category. They can be either revenue or non revenue or can also have a social, economical or environmental impact.
Young Entrepreneurs -
Those areas that want to participate can open up the challenge to Young Entrepreneurs who are between the ages of 12 to 18 years old. Each Young Entrepreneur must have a mentor assigned to them to help them through the process.