Contestants
What to know
ICE will give out $20,000 in cash and prizes to winners. The Main Event (Entrepreneurship Competition) will consist of the written plan and oral presentation. a case competition and an elevator pitch competition will reward winners with cash & prizes! ICE is an Undergraduate Competition for students from all around the globe. Any undergraduate student from any University can participate. A graduate student track will be done this year via invitation instead of being done via application.
Miscellaneous cash and prizes to teams for their uniqueness, social responsibility etc. will also be awarded.
Business Plan Competition:
First Place: $20,000 in cash and prizes. Runner Up: (To Be Announced) in cash and prizes.
Case Competition:
There will be a Case Competitions for teams who do not make it to the finals of the business plan competition.
Elevator Pitch Competition:
Winner of Elevator Pitch Competition: (To Be Announced)
Team Composition:
Teams of 2-4 Undergraduate students can enter their plan into the competition.
Eligibility:
Student participants must be currently enrolled (part time or full time) at a College or University to participate in this competition.
Team Composition and Student Eligibility:
Two (2) to Four (4) currently enrolled undergraduate students. ICE is open to students of all disciplines/majors, not just business. Non-students may participate in planning the venture, however, only students may participate in the competition. Non students can participate in the expo and workshops at the event. Each student team member must take an active role in delivering the presentation, and participating in the Q & A. Non-student members may attend ICE but may not participate in the competition. ICE encourages teams/teamwork but will allow one team member to participate if other team members are unable to attend.
Student Involvement:
The competition is for student-created, managed and owned ventures. This is the most common area for requested rules clarification. The guidelines are: (1) Students played a primary role in conceiving and developing the business plan. (2) Students have key management roles (CEO, COO, CFO etc…) and have 50% or more of the equity in the venture.
Preparing an Executive Summary:
Teams have until Monday April 15, 2024 at 11:59 PM CST to submit their Executive Summary online. Executive Summary should be submitted as a single, printable PDF file. The Executive Summary should be no longer than 4 pages double spaced with a 1 inch margin all over (top, bottom, left and right margins) and 12 point font.
Executive Summary Review Will Assess:
Company Summary
Problem/Need your company solves
Product/Service Description
Intellectual property status (e.g., patents, licenses, etc.) if applicable.
The current state of development (e.g., beta, customer trials, etc.) if applicable.
Business Model: Industry/Business you are in and the revenues streams of your project.
Market Analysis: A customer evaluation/analysis and a competitor evaluation/analysis
Customer Evaluation/Analysis: Market Size and potential market share with evidence customers will buy your product/service.
Competitive Evaluation/Analysis: Differentiation from competitors in the market. How you can sustain your differentiation and any competitive advantage(s) you may have.
Key Management Team: Profile of key management team and/or advisory boards and their relevant experience.
Financial Highlights: Time frames to achieve significant revenue and/or cash flow positive. Amount of funding you are seeking and the status and offering/deal points associated with raising the funding.
Business Plan Review:
The teams with the best Executive Summaries will be required to submit their business plans by 11:59 PM CST on May 21, 2024. Plans are limited to 20 pages (including executive summary, table of contents and cover page.) and can include up to 10 pages of appendices for a maximum of 30 pages combined. The plan should be uploaded as a single, printable PDF document with 1 inch margins on all sides (the top, bottom, left and right), double spaced with 12 point font.
Location:
ICE will be held in Montego Bay, Jamaica June 11-13, 2024. The competition is open to undergraduate students from all around the globe.
Changes to Competition Rules:
Though not expected, these rules and prizes are subject to change at the discretion of ICE Corporation. ICE Corporation staff has the right to interpret these rules according to its own judgment.
Nature of Ventures:
Ventures must be intended to be real companies with corporate structures and financial data which reflect such. This excludes investment vehicles, licensing and other projects where returns are measured for investment value instead of operating profit. Also, excluded are buy-outs, expansion of existing companies, roll-ups, real estate syndications, tax shelters, franchise based outlets, licensing agreements for distribution in a different geographical area and spin outs from existing corporations. Licensing technologies (whether from Universities or not) is acceptable as long as there has been no prior commercialization. Key in such ventures is demonstrating significant added value to the technology by the management team.
Prior Activity:
Ventures which have generated over $10,000 in revenue, and/or have raised operating/equity capital from sources other than the student team members, or their immediate friends/family more than one calendar year (June 1, 2023) are excluded. ICE reserves the right to request copies of any funding agreements.
Attendance and Travel Arrangements:
Teams should arrive in Montego Bay, Jamaica by 1:30 PM Tuesday June 11, 2024 for optional feedback round from judges. Though optional, it is strongly recommended. Teams should plan to arrive Monday evening or Tuesday morning, and depart the morning of Friday June 15, 2024.