September 26, 2024

Upcoming Events

August 6, 2024 – Submission portal opens
September 6, 2024 – Submission portal closes
September 10, 2024 – Initial pitches via Zoom
September 26, 2024 – Final pitches at the GROW Business Summit

REGISTER NOW

ABOUT THE EVENT

On behalf of Shoals Shift, I am pleased to announce Idea Audition 2024.

Participants’ initial pitch will take place on Tuesday, September 10, 2024 via Zoom.  They will be given a pitch time on Friday, September 6th.  Each room will have a winner that will advance to the finals. If they win their ‘room’, they will be notified in the early evening on October 26th.  

The final pitches will take place at the Shoals Chamber GROW Business Summit at the Marriott Shoals Conference Center on Thursday, September 26th starting at 12 pm.  The final pitchers will gather at a location to be determined to pitch live before our panel of judges – the pitches will be broadcast via Facebook Live.

1st place – $7,500

2nd place – $5,000

3rd place – $2,500

Now, about the pitch:

Participants will have three minutes to pitch their idea to the judges. 

Pitches will be evaluated based on their ability to answer the following Key Questions:

  1. What is your technology, product, or service?  Briefly describe what you sell and the need it fulfills (i.e. what is the problem and what solution does your product/service provide?)
  2. What is your target market?  Briefly state to whom you are selling this product/service. How large is the applicable market? Into what industry does your product or service best fit?
  3. Who is your competition? Competition is positive as it confirms that a market exists for your product/service. All products and services have competition.
  4. What is your competitive advantage?  What makes you unique? Why do you have an advantage over others? How will your company provide this product/service better than the competition?
  5. Who is behind the company? As the old saying goes, “Bet on the jockey, not on the horse.” Explain how the experience of you, your team, and/or your advisory board gives you credibility.

A pitch is a story; it has a beginning, a middle, and an end.  At the beginning of the story, set yourself up as the expert (tell a little about yourself).  Next, tell us the ‘problem/issue’. Then, end or close by telling us how you or your product can solve the problem/issue. 

Please remember to keep the wording as simple as possible.  If you are solving a technical problem, chances are the judges will not have the same level of knowledge as you – so keep it simple!! 

Good luck and we hope you will be a part of this year’s Idea Audition.

The deadline for Entry is September 6, 2024

Preliminary pitches will be held on September 10, 2024.

The 2024 Idea Audition Finals will be held on September 26, 2024.

RULES

Entrants must provide:

  • Full Name
  • Name of Business (if established)
  • Address – physical address, mailing address (if different than physical address), and e-mail
  • Telephone Number
  • Website (if established)
  • Pitch Idea Title. Plus email a brief description of your “pitch” that answers the Key Questions listed below to COB@una.edu. Entrants may alter their pitch at the time of their presentation to a panel of judges in the semifinal round of the Idea Audition. The pitch may not be changed between the semifinal round and the final round.
  • Any external funding received by the participant with regard to their “Idea” must be identified and reported on the application. Ventures that have raised equity capital totaling $250,000 or more from sources other than team members or team members’ friends and families, or that have realized more than $750,000 in sales in the twelve (12) months immediately preceding the competition are not eligible. Federal grant awards, including funding from SBIR/STTR programs, are excluded from this restriction.
  • Entries must be the original work of the entrant.
  • Individuals may only enter one idea into the competition, whether they do so individually or as part of a team.
  • Entrants will have three (3) minutes to present their pitch to the judges.
  • No PowerPoint slides are allowed. A prototype and/or a presentation board may be used.
  • Entrants must apply online. Online applications will only be assessed for eligibility and availability.
  • Entrants must participate in one of the training sessions to be eligible to make their three-minute pitch.
  • All eligible entrants will be invited to the Idea Audition to make their three-minute pitch in front of a panel of judges.
  • Eligible entrants will be emailed their audition time for the semifinals. Any entrant that is late for their assigned audition time will be considered a “no show” and cannot be guaranteed a later time.
  • The Semifinal judges, in their sole discretion, will determine those entrants who participate in the Finals.
  • The winner of the Idea Audition will be selected by the Finals judges.
  • By submitting an idea, you represent to the Idea Audition that you have all rights, titles, and/or interests in the idea submitted and that the information you present is accurate and complete.
  • The Idea Audition reserves the right to require at any time that any entrant sign an affidavit indicating that they do meet each of the aforementioned rules and guidelines at any point and continuously throughout the applicable competition and, as applicable, following such competition. In addition, any award is subject to forfeiture and/or repayment if the Idea Audition determines, in its sole discretion that the competitor receiving such award was not in compliance with these rules and guidelines.

Pitches will be evaluated based on their ability to answer the following Key Questions:

  1. What is your technology, product, or service? Briefly describe what you sell and the need it fulfills (i.e. What is the problem and what solution does your product/service provide?)
  2. What is your target market? Briefly state to whom you are selling this product/service. How large is the applicable market? Into what industry does your product or service best fit?
  3. How do you expect to make money/What is your business model? Describe the projected source(s) of revenue and how you intend to get the product/service to the buyer.
  4. Who is your competition? Competition is positive as it confirms that a market exists for your product/service. All products and services have competition.
  5. What is your competitive advantage? What makes you unique? Why do you have an advantage over others? How will your company provide this product/service better than the competition?
  6. Who is behind the company? As the old saying goes, “Bet on the jockey, not on the horse.” Explain how the experience of you, your team, and/or your advisory board gives you credibility.

REGISTRATION

Register by clicking HERE!