FAQ
- Q: I am very interested in the Duke Start-Up Challenge, but do not want to join a team this year. What other opportunities are available?
- Q: Who can enter the Duke Start-Up Challenge?
- Q: If I am not a member of the Duke community, how can I join a team ?
- Q: How do I find other students to help work on my business idea? Or, if I don’t have an idea, how do I find a team with an idea to work with?
- Q: Who owns my idea if I enter or win?
- Q: Can I enter the same idea that I have submitted in the past?
- Q: Do I have to provide an executive summary and elevator pitch in Phase I in order to participate in the rest of the competition?
- Q: Can I get academic credit for working on my idea?
- Q: Should I enter my plan in the Social Enterprise Track or For-Profit Track?
- Q: Can I work by myself?
- Q: Can I be on more than one team?
- Q: Can I raise funding from other sources during the competition?
- Q: How will my business plan be kept confidential?
- Q: What are the prizes?
- Q: Who donated the funds for this year’s competition?
- Q: How can I sponsor the competition?
- Q: I would like to serve as a mentor to one or more teams of students. Are there opportunities to do this?
- Q: I am interested in serving as a judge for this year or future competitions, whom should I contact?
- Q: I am very interested in the Duke Start-Up Challenge, but do not want to join a team this year. What other opportunities are available?
- A: We are constantly seeking entrepreneurial students from all disciplines to join the organizing committee and assist with numerous aspects of the competition. Your involvement will prove valuable and you will learn much about the entrepreneurial process that will help you in future business pursuits or in entering the challenge in future years. If you would like to join the committee, please visit the Organizers section of this website for more information about the various committees and send an email to Kris Irwin at kristin.irwin@duke.edu.
- Q: Who can enter the Duke Start-Up Challenge?
- A: Anyone who is part of a team with one current Duke University student, faculty or staff member. The student can be enrolled in any school within Duke, but must be enrolled as a student at the time of the Phase I submission deadline.
- Q: If I am not a member of the Duke community, how can I join a team ?
- A: If you have an idea, want to enter the competition and are not a member of the Duke community, we encourage you to find a Duke University student to partner with. We host mixers after each of our educational events until the Phase I submission deadline to help match up individuals and complete teams. In addition, you should post information about what you are looking for and what you have to offer on the Find A Team section of this web site.
- Q: How do I find other students to help work on my business idea? Or, if I don’t have an idea, how do I find a team with an idea to join?
- A: The best way to meet potential team members is to attend every competition event, especially the Match Event held in mid-to-late October. We also will post online information about individuals looking to join a team, as well as, teams looking for additional members under Find a Team.
- Q: Who owns my idea if I enter or win?
- A: YOU DO! Duke University is supporting this competition to encourage innovation and entrepreneurship on campus, not to generate direct financial returns on student’s business ideas. However, the university my have claims on certain intellectual property developed by faculty and others using University resources. If you have any questions about your obligations to the University because of your research program, you should contact the Office of Science and Technology. However, the competition will not take any ownership stake in your company. Please visit the Equity sub-section under About for further details.
- Q: Can I enter the same idea that I have submitted in the past?
- A: You may resubmit your plan if you feel you have made substantial progress on the development of the idea that was previously submitted. We cannot guarantee that you will have different judges from those that had evaluated your plan in the past and to the judges this may reflect poorly on your entry. However, if you were a Phase III Finalist in any previous year you are not eligible to submit the same business concept from that year, but are encouraged to enter a new idea.
- Q: Do I have to participate in Phase I in order to participate in the rest of the competition?
- A: NO. However, if you did not participate in Phase I, you will be asked to submit an executive summary and statement explaining the reason why you did not participate by the time of the Phase II registration deadline.
- Q: Can I get academic credit for working on my idea?
- A: Academic credit is not a part of the competition itself, but you may pursue credit through any of several entrepreneurship and plan-writting classes offered through various schools at Duke, including Fuqua School of Business and Pratt Engineering. If you do so, we strongly advise you to provide any sponsoring faculty with complete details on the competition and your entry so that no Honor Code issues emerge.
- Q: Should I enter my plan in the Social Enterprise Track or one of the For-Profit Tracks?
- A: A social entrepreneur is someone who recognizes and addresses a social problem by using entrepreneurial principles to organize, create, and manage a venture that will evoke change. If the goal of your business is to generate returns on your investment, you should probably enter one of the for-profit tracks. The Social Enterprise Track is for ideas with an explicitly social mission and these are often pursued through non-profit ventures. If you have questions about which track you should enter, please email Steve Allan at sja8@duke.edu for advisement.
- Q: Can I work by myself?
- A: Part of a good business is the people that are involved with the idea. Although there is no rule dictating the number of people on a team, it is strongly encouraged that you work as a member of a team. We feel that your experience will be fuller, your ideas better, and your chance of winning greater. In the past, teams integrating students from multiple schools across campus have enjoyed the greatest success.
- Q: Can I be on more than one team?
- A: You can be a member of as many teams as you would like, but it may be seen by the judges as a lack of commitment to making any one of the businesses a success. Most often your efforts are best spent making one entry as strong as possible. Although you may try entering several ideas in Phase I to see which one gains the most traction with the judges and other potential team members.
- Q: Can I raise funding from other sources during the competition?
- A: YES. You are free to seek investment from other sources, but you must abide by the competition Eligibility requirements as long as you are participating in the Duke Start-Up Challenge. If you raise funds beyond the allowable level at any point in the competition, you will be required to withdraw. Also make sure that you promptly notify the co-chairs of any investments you receive.
- Q: How will my business plan be kept confidential?
- A: Your business plan will not be read by anyone except for the necessary judges and select members of the committee. We will take ALL reasonable measures to assure confidentiality and have more regulations regarding confidentiality than most other major competitions. However, ultimate responsibility for protection of intellectual property lies with the team and your own strategic limitation of disclosure through the process.
- Q: What are the prizes?
- A: We are pleased to announce that the cash prizes for Phase III of the Duke Start-Up Challenge will be distributed as follows … coming soon.
- Q: Who donated the funds for this year’s competition?
- A: Cisco Systems, Fuqua School of Business Dean’s Office, Pratt School of Engineering Dean’s Office, and Duke University Provost’s Office have contributed funds to this year’s Duke Start-Up Challenge. We would like to thank all of our donors for their generous contributions.
- Q: How can I sponsor the competition?
- A: Please contact the Corporate Relations Coordinator, Hylton at hylton.kalvaria@fuqua.duke.edu, regarding opportunities avaliable for Duke Start-Up Challenge corporate sponsorship. We are eager to form partnerships with businesses in a variety of industries, locally and globally.
- Q: I would like to serve as a mentor to one or more teams of students. Are there opportunities to do this?
- A: YES. We are eagerly seeking mentors to provide advice and coaching to teams in all phases of the competition. Please contact the Technologies & Teams Coordinator, Vinod at vinod.kumar@duke.edu to express your interest in mentoring this year or in the future.
- Q: I am interested in serving as a judge for this year or future competitions, whom should I contact?
- A: Please contact a Judge Coordinator, Bryce Davis at bryce.davis@duke.edu or Ajay Bhate at ajay.bhate@fuqua.duke.edu to discuss your interest.
