The competition process for both students, and faculty & staff will follow the process below:
Round 1: Idea Submission
All current Undergraduate and Graduate GW Studens in a degree program, and any Faculty and Staff member may compete. You may participate as individuals or as teams of up to four members. All participants must submit a one-page Idea Overview Statement. All Idea Overview Statements must be submitted through the website as an attachment in PDF format by 5:00PM on October 24, 2014. Each idea submission must fulfill the following minimum criteria:
- Meet the threshold of $1 million in net cost savings or revenues per year on a recurring basis (Note: We understand it may take up to 5 years of "ramp up" to achieve $1 million annual net benefit, which can be outlined in your financial information).
- Must be aligned with GW’s core academic mission at the most fundamental level and not inhibit successful university processes.
- Must be an idea that is not already being planned or implemented by GW
Semifinalists will be notified via e-mail by November 21, 2014.
Round 2: Business Plan
Qualified individuals and groups will submit a single-spaced business plan with a maximum of twelve pages (tables and charts included). The title page, table of contents page, and appendices will not count toward the page limit. All plans must be submitted using the Arial 12-point font. Tables and charts, however, may be created using a different font style and size. All business plans must be submitted via attachment in .doc, .docx, or .pdf format on the competition website by 5:00PM on January 30, 2015. Successful business plans should include the following sections (We recognize that not all sections are relevant to each idea and therefore allow you to remove/add sections as you deem appropriate):
- Idea Synopsis
- Assumption Summary/Validation
- Operational Considerations
- Project Timeline
- Financial Analysis
- Project Risks and Mitigation
- Tracking Methodology Summary
- Resources and Committee Membership
Finalists will be notified via e-mail by February 26, 2015.
Round 3: Presentation
The top four to eight individuals or groups will each prepare a fifteen-minute presentation. A laptop, projector, screen, and a pair of speakers will be provided. All presenters will be responsible for making sure their presentation method is compatible with the provided resources. Prior to presenting, each individual or team must submit their presentation to the online form in Power Point format by 5:00PM on March 17, 2015. Students will present their ideas to the panel judges between March 19 and 20, 2015.
Winners will be notified via e-mail by April 3, 2015.