Pitch Dingman Competition 2021
Submission Deadline04/05/2021
Description

Applications are now closed. Join us for the announcement of the winners on May 4th!

 

The Pitch Dingman Competition is the University of Maryland’s premier annual venture competition. Terp undergraduate and graduate students compete for more than $65,000 cash in startup funding. 

Applications open in the winter, with the main event in late Spring. Top student entrepreneurs deliver pitches to judges who are experts in entrepreneurship, angel investing and venture capital. In addition to the opportunities for seed funding, competition participants gain access to exclusive workshops and mentoring.

This year, the Pitch Dingman competition will expand to encompass 3 tracks, each with its own prizes: The David & Robyn Quattrone Venture Track, Main Street Track, and Fearless Ideas Track. All 3 tracks will pitch on the Finals Stage in May. In 2021, the Finals will take place virtually

General Information:

How to Enter: The Pitch Dingman Competition uses the Reviewr platform to manage applications. To enter, the designated team leader should complete the online enrollment form found at go.umd.edu/pdcapp2021. The application for the Quattrone Venture Track and the Main Street Track must be completed no later than February 12, 2021 at 11:59 p.m. EST. The application for the Fearless Ideas Track must be completed no later than April 5, 2021 at 11:59 p.m. EST.

Eligibility in brief: All current University of Maryland - College Park students, both graduate and undergraduate, are welcome to apply, including those who are students at UMD-CP at Shady Grove. Applicant teams must be composed of at least 50% UMD-CP students.  Those students must be founders of the venture and currently serving in management roles. Ventures of any industry are welcome. 

Key Info & Dates:

* Please note: The Quattrone Venture and Main Street Tracks have the same competition timeline and progression. However, the tracks are separate, and participants in these tracks will not compete against each other. The Dingman Team will make the ultimate decision for which track the venture will compete in.

David & Robyn Quattrone Venture Track + Main Street Track

Applications open: January 12, 2021 at 12 a.m.

Application deadline: February 12, 2021 at 11:59 p.m.

Quarterfinalists notified: March 4, 2021

Semifinalists notified: March 9, 2021

Semifinals Coaching Sessions: March 26, April 2 & April 9, 2021

Pitch Dingman Competition Semifinals: April 16, 2021

Finalist Coaching Sessions: April 23 & 30, 2021

Fearless Ideas Track

Applications open: March 1, 2021 at 12 a.m.

Application deadline: April 5, 2021 at 11:59 p.m.

Winner notified: April 28, 2021

All Tracks - Pitch Dingman Competition Finals: May 4, 2021

More Details on the Tracks:

The David & Robyn Quattrone Venture Track

Who: ventures with traction (as measured by revenue, users, and/or external investment) and high potential for scalability.

Prizes:

Grand Prize: $30,000

Second Place Prize: $10,000

Other Sponsored Prizes: various amounts & $1,500 in AWS credits

Main Street Track

Who: ventures of any stage with at least $1,000 in lifetime revenue. Ventures that intend to remain local or that are not focused on scale are encouraged to compete in this track.

Prizes:

Grand Prize: $15,000

Second Place Prize: $5,000

Other Sponsored Prizes: various amounts & $1,500 in AWS credits

Fearless Ideas Track

Who: ventures seeking to address this year’s challenge. Participants in this track have idea-stage ventures that were created during this academic year, with either no revenue at all or a lifetime revenue under $1,000.

Prizes:

Grand Prize: $5,000 + Reserved spot in the Terp Startup Accelerator (including $5,000 stipend)

Other sponsored Prizes: various amounts


 

GENERAL NOTICES    

  • Entry Fees: Pitch Dingman Competition does not have an entry fee.
  • Changes to Competition Rules: While not anticipated, these rules and prizes are subject to change at the discretion of the Dingman Center at any time. The Dingman Center staff has the right to interpret these rules according to its own judgment.

 

ELIGIBILITY & REQUIREMENTS

Who’s eligible to submit an application?

The competition is for undergraduate or graduate students currently enrolled on a full- or part-time basis for the entire academic year (i.e., from August 2020 through May 2021) at the University of Maryland College Park or the Robert H. Smith School of Business campuses at Shady Grove, Baltimore, and/or Reagan. You may be required to provide proof of enrollment, such as transcripts. 

  • I graduate in the winter term, can I still compete?  Only active students for both fall and spring semesters during the current academic year are eligible to submit an application. If the other 50% of your leadership team is composed of active UMD students, though, your venture would still be eligible. 
  • Can I compete again if I applied to a previous Pitch Dingman Competition? Students who have competed previously and who were not selected as Finalists the year before are highly encouraged to reapply.
  • What if I was a Finalist last year?  The top Finalists from previous Pitch Dingman Competitions can wait a year and compete in future competitions. They are however prohibited from competing in the year right after placing in the Finals (i.e. a Finalist in 2019 cannot compete in 2020, but can compete in 2021). 
  • If I win the Fearless Ideas 2021 Track, can I compete next year? Winners of the Fearless Ideas Track are allowed and encouraged to compete in any track in the following year and are not required to wait. 
  • I’m also a participant in the Terp Startup Fellows, New Venture Practicum and/or Ladies First-- can I apply? Please do!

What kind of ventures are eligible to compete?

The competition is for new, independent ventures in the seed, startup, or early growth stages. Ventures can be in any industry, and must have a revenue-generating model. 

Both for-profits and nonprofits are allowed to apply, as long as 50% or more of the venture’s revenue is gained from earned revenue. 

Licensing technologies from universities or research labs is encouraged, assuming the technologies have not been commercialized previously. Generally excluded are the following: buy-outs, expansions of existing companies, real estate syndications, tax shelters, franchises, license agreements to expand current distribution, and spin-outs from existing corporations. 

The Dingman Center for Entrepreneurship has the final decision on which teams are invited to compete in the Pitch Dingman Competition and reserves the right to include or exclude any teams in its sole discretion in its sole discretion for any reason.

I’m eligible to apply; what are the requirements for my venture team?

Student Leadership Roles:

The competition is for student-created and -managed ventures, including new ventures launched by licensing university technology. Students are expected to:

  1. be the driving force behind the new venture,
  2. have played the primary role in developing the business plan,
  3. have key management (“C” level, director or founder) roles in the venture, and
  4. own at least 50% equity in the venture.

In general, an active UMD student should be CEO, COO, President or Director of the venture, and/or make up 50% of the key management team. This requirement applies to for-profits and nonprofits. 

Members of the student team are expected to also own equity in the new venture, at least 50% of the equity. Recognizing that the equity structure of these new university-based ventures may not yet be established, the 50% equity ownership rule may be waived in some situations and will be examined on a case-by-case basis. As nonprofits do not have an equity structure, the equity requirement is waived for these ventures.

The above rules are in place to protect UMD student founders and exclude ventures formed and managed by non-students who have given little or no equity to students for writing their business plan

Team Composition:

Non-students may be members of the venture’s founding/management team and may participate in planning the venture. However, only UMD students may compete (present the plan on-stage and answer questions from the competition judges). 

There is no restriction on the total size of the venture’s team, though only 2 of the student leaders from one team are allowed to pitch onstage.

Attendance:

To be considered for any award, all pitching (presenting) team members must arrive at Pitch Dingman Competition Semifinals and at Pitch Dingman Competition Finals at the scheduled arrival time. You must also attend all coaching sessions as specified in the timeline.

Required Forms:

Each team will be required to provide appropriate documentation to receive award payments, which include W-9 and/or EIN forms. No prizes will be awarded without the required forms submitted.

What do I need to complete my Application?

You must complete an application for your team to be considered for the Pitch Dingman Competition. The application consists of a series of questions about you and your business as well as a pitch deck. 

You may indicate which track you feel best suits your venture in the application. The Dingman Center will make the final decision however for which track your venture will compete in, based on your application responses.

If selected for the Pitch Dingman Competition, your pitch should be a two-minute presentation providing a brief overview of your business idea. It is meant to help you—as an entrepreneur—to practice and hone your ability to verbalize and sell the idea to early stage investors such as friends and family, angel investors and venture capital firms. The key is to share your passion and enthusiasm for your idea. Your pitch deck should be short (no more than 5-7 slides) and to the point. Some topics to consider including in your pitch deck are:

  1. What problem are you trying to solve?
  2. How big is your problem? Talk about addressable market size.
  3. What is your solution to the problem? What is the value proposition for the customer?
  4. Who are your competitors and why is your solution better?
  5. How will you make money? What are your revenue stream(s)? Marketing and distribution strategy?
  6. Management team—who? What backgrounds and experiences do they bring?
  7. Current traction–do you have existing revenue? Plan moving forward—how will you use the prize money to grow your business and what are your targets for the next six months?

Teams will also want to submit materials that will be used in print, web, and other media including: 

  • Team Descriptions 
  • Team/Team member photos 
  • Product or prototype photos (if applicable) 
  • Company Logo (high resolution files)

How will my application be evaluated? 

The competition is intended to simulate the real-world process of entrepreneurs soliciting start-up funds from early stage investors and venture capital firms. The judges function as early stage venture capital investors deciding on which business venture they would most likely fund. The quality of the idea, the size of the market, the competitive differentiation, the strength of the management team, and the clarity and persuasiveness of the written plan and oral presentation, all influence the judges’ decisions. Ultimately, the winning team should be the team in which the judges would most likely invest their money.

Most of the judges of the Dingman Center come from the investment community and are involved in making early-stage investment decisions on an ongoing basis. Their ranking of the top teams is guided by the scorecard (described below), but should be consistent with the approach that would be used by an early-stage venture capital or angel investor.  Judges will consist of Dingman Center Staff, Venture Mentors, and Panel Judges invited for the competition.

Judging Criteria

Scores
1-10

Company addresses a clear problem or opportunity.10
Revenue model is clearly articulated and meets customers' needs.10
Company clearly articulates a solution to a unique value proposition. In other words, how clearly do you understand the product or service this team has developed and how it solves a problem or provides a benefit to a customer?10
Company demonstrates a sustainable competitive advantage.10
Company has validated its market through clear progress in terms of product, customers, or revenue.10
Company has a clear plan or high potential to scale.10
Existing or planned team can credibly implement the business plan.10
Company has clearly defined targets for growth and a practical plan for how to reach them.10
Would you recommend this company as one of our semifinalists?Y/N
Total80

ADDITIONAL GUIDELINES & INFORMATION

Decisions regarding the Competition and the Winners: All decisions regarding the competition rules, procedures, and processes are at the sole discretion of the Dingman Center. Changes and/or interpretations of these rules may be made by the Dingman Center at any time, even though they may be (or may appear to be) in conflict with some previously published information. The selection of the teams to compete and the decision of the winners are at the sole discretion of the judges and the Dingman Center. Best efforts will be made to make decisions in accordance with this Official Rules document.

Use of Competition Materials: The Dingman Center for Entrepreneurship reserves the right to use any material prepared for the Pitch Dingman Competition (PDC) in publicizing and promoting the event. The Dingman Center may use these materials in any printed materials and any Pitch Dingman Competition videotape or other medium that it may produce. The Dingman Center may videotape any portion of the Competition and utilize these tapes in any way that it sees fit.

Non-confidentiality: All sessions of the competition, including but not limited to oral presentations and question/answer sessions, are open to the public at large. Any and all of these sessions may be broadcast to interested persons through media which may include radio, television and the internet. Any data or information discussed or divulged in public sessions by entrants should be considered information that could possibly enter the public realm, and entrants should not assume any right of confidentiality in any data or information discussed, divulged, or presented in these sessions.

Non-Disclosure Statements: Due to the nature of the competition, we are not able to ask judges, reviewers, staff, or the audience to agree to or sign non-disclosure statements. However, the Dingman Center for Entrepreneurship as the organizer of the Pitch Dingman Competition, will make every effort to limit distribution of business plans presented at the competition. The Dingman Center cannot guarantee that other individuals will not obtain access to electronic or hard copies of the business plan. All presentations are open to the general public, and some presentations may be videotaped.

Copyrights & Permissions: If a team uses copyrighted materials and/or images from a third-party in their submissions or presentations, they must obtain permission and authorization in advance from the owners to use this material.

Participant Responsibility for Information: Information presented by the competitor(s) at the Pitch Dingman Competition is the sole responsibility of the competitor(s). The Dingman Center for Entrepreneurship has not taken, and does not intend to take, any steps to verify the adequacy, accuracy or completeness of any information, materials or statements presented by the competitor(s). The competitor(s), and not the Dingman Center, is responsible for ensuring the competitor(s) compliance with all applicable federal, state and other securities laws, and it is solely the competitor(s) responsibility to comply with any of such laws that are applicable.

Rules

ELIGIBILITY:

Eligibility in brief: All current University of Maryland - College Park (UMD-CP) and UMD-CP at Shady Grove students, both graduate and undergraduate, are welcome to apply. Applicant teams must be composed of at least 50% University of Maryland students as part of the founding team and currently serving on the lead management team. Ventures of any industry are welcome.

Applicants will be evaluated on the uniqueness of their ideas, the current traction and scalability of their business, and the viability of their business as measured by the steps that they have taken to mitigate risks. For the Semifinal and Final rounds, judges will also take into consideration the contestants' progress toward their goals and steps taken to grow their business since time of application.  

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