Change the World With Your Business Idea.
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A local business pitch competition that will nourish innovation and energize your venture.
Do you have a viable product or idea? And you’re...
- Ready to bring your innovation to life?
- Looking for candid feedback to validate your product concept?
- Seeking advice to help propel your new venture?
The Volusia Innovation Challenge is ideal for you to...
- Get expert input on the merits of your business/product idea.
- Win cash and in-kind prizes to advance your venture.
How it works.
- Apply: Meet the requirements and submit your application.
- Train: If selected, receive coaching to refine your pitch.
- Showcase: Display your product or business concept at the finals event.
- Pitch: Present a 5-minute pitch to the judges for a chance to win.
- Apply:
Meet the requirements and submit your application.
2. Train:
If selected, receive coaching to refine your pitch.
3. Showcase:
Display your product or business concept at the finals event.
4. Pitch:
Present a 5-minute pitch to the judges for a chance to win.
Public records disclaimer: Under Florida law, email addresses are public records. If you do not want your email address released in response to a public-records request, do not send electronic mail to this entity.
FAQs
How do I know if I’m eligible to compete?
To compete you must:
- Be a U.S. Citizen or have other legal status.
- Be at least 18 years old.
- Reside in, operate your business in, or be a student within Volusia County.
- Be an aspiring or current business owner.
- Have or propose a Volusia County business address.
- Have a viable product or service or advanced-stage product or service concept.
- Have annual business revenue of $100,000 or less.
How long is the final pitch?
Plan your pitch for a maximum of 5 minutes. Your presentation will be followed by questions from the judges.
What criteria will be used to select the winner?
Evaluators and judges will consider:
- Applicant Eligibility
- Market Viability
- Is there a clear market need for the product or service?
- How large is the potential market, and does the business have a viable target audience?
- Innovation and Differentiation
- How unique or innovative is the idea?
- Does the product or service offer a significant improvement or solve a problem in a new way?
- Feasibility and Scalability
- Can the business be realistically launched and sustained with the proposed plan?
- Does the business model show potential for growth and scalability?
- Financial Viability
- Are the financial projections realistic and well thought out?
- Is there a clear understanding of revenue streams, costs, and profitability?
- Presentation and Communication
- Was the pitch clear, concise, and engaging?
- Did the presenter effectively convey their passion, confidence, and knowledge about the business?
Who will judge the finals competition?
The selected panel of judges will be composed of experienced business leaders from the community who are passionate about innovation and entrepreneurship.
What are the prizes?
- First place: cash and in-kind prizes valued at $10,000
- Second place: cash and in-kind prizes valued at $5,000
- People’s Choice (showcase favorite): cash and in-kind prizes valued at $2,000 (awarded by the audience)
- Bonus: The biggest prizes will be the professional connections made, and expert advice received to help advance your idea.
What is the time commitment for this event?
Eligible applicants who advance to the semi-finalist stage will take part in one or more coaching sessions scheduled between March 3 and March 14. The final event will take place on March 27, from 5:30 to 8:30 PM at the Ocean Center Daytona Beach.
What should my presentation include?
Your presentation should, at a minimum, cover the following key points:
- Problem Statement: Clearly define the problem you aim to solve.
- Proposed Solution: Explain your product or service and how it addresses the problem.
- Competitive Landscape: Discuss your competitors or alternative solutions currently available.
- Go-to-Market Strategy: Outline your plan for bringing your product to market, including your marketing strategy.
- Financial Viability: Provide evidence of your venture’s potential for profitability and sustainability.
Does my product have to be developed already?
No, you can apply with just an advanced-stage business concept. However, we strongly encourage you to develop virtual or physical prototypes and provide evidence that you’ve engaged with your target market and gathered feedback on your product’s viability.
What if I already launched my product?
Products that are already in the market are acceptable, as long as the annual revenue of the product and associated business doesn’t exceed $100,000.
Do I need to have a prototype to compete?
You are not required to have a prototype for the competition, but we strongly encourage you to develop virtual or physical prototypes and provide evidence that you’ve engaged with your target market and gathered feedback on your product’s viability.
Can I compete with an intangible product, like a service or a digital product?
Yes, you can compete with a service or a digital product. For these types of entries, we recommend creating and presenting visuals to help the judges fully grasp your concept. For instance, if you’re developing software as a solution, you could demonstrate the actual software or provide a wireframe with mock-up images of the interface. This will give the judges a clearer understanding of the user experience and functionality.
Do I need to patent my idea to compete?
Although filing a patent is not required to compete, it is highly recommended. Keep in mind that participating in the competition will constitute a public disclosure. If you believe your idea qualifies for a utility patent, we strongly suggest filing for provisional patent status beforehand as a precaution. https://www.uspto.gov/patents/basics/apply/provisional-application
Are there any obligations tied to competing or accepting the prizes?
There are no obligations beyond the competition itself. However, winners are asked to serve as ambassadors for the event by sharing updates on their progress and success as they continue their entrepreneurial journey.
