IdeaFest is a fun, fast-paced Business Pitch Competition with $10,000 in prize money.
Twenty entrepreneurs will take the stage to pitch an original business idea to a panel of business experts and an audience of other entrepreneurs, small business owners, potential investors, students, and business and community leaders. You have 2 minutes to pitch your idea followed by 3 minutes of Q&A with a panel of expert judges.
The top three competitors, as selected by the judges, will be awarded $5,000 for first place, $3,000 for second place, and $1,500 for third place. The live audience will vote to select the winner of the $500 Audience Choice Award. All competitors will gain access to free business consulting and prototype development through The Launch Place.
The competition is judged by a panel of business development and startup experts representing startup communities throughout Virginia and North Carolina.
Entry and Registration
Space is limited to 20 pitches, which will be selected from the pool of registrants by the IdeaFest Organizing Committee. Late applications will not be considered. Applicants will be notified two weeks prior to the competition if you are selected to pitch.
Anyone who has an entrepreneurial idea for a startup company who would like to pitch to a panel of judges for the purposes of receiving feedback, potential prize money, and/or possible seed funding may register.
- Submissions may be entered as individuals or teams.
- The maximum number of team members for a single pitch is limited to 5 persons.
- Each individual or team pitching may enter one idea or concept.
- Pitch competitors may participate on multiple teams.
- Only the pitching individual or the pitching members of a team may pitch to the panel of judges or answer questions from the judges and/or audience.
- You will be notified ahead of time if you are or not selected to pitch.
If you are not selected to pitch, you are still encouraged to attend IdeaFest. You’ll still have the opportunity to network with like-minded entrepreneurs and learn about the business development resources available in the Danville region.
Ideas and concepts pitched must be in the initial stages of development. Individuals or teams must disclose any funding already received at the time of registration. There is an allowance for an idea or concept to be already funded before this competition by personal or family funds, small amounts of seed capital from outside investors, or modest amounts of funding stemming from institutional or research grants. In no case may an idea of concept be funded from any source more than $25,000.
The pitched idea or concept must be the original work of the individual or team pitching it.
Ideas and concepts deemed by the IdeaFest Organizing Committee to be fake, insincere, offensive, immoral, or unethical may be screened and disqualified.
The IdeaFest Organizing Committee has the sole discretion to disqualify and/or remove any individual or teams for any reason that it deems appropriate before and/or during the pitch competition for violation of these rules. All decisions regarding an individual’s or team’s removal and/or disqualification from the pitch competition are final.
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