Mechanics

SENIOR HIGH SCHOOL EDITION

PARTICIPANTS

Each school will nominate a maximum of 3 teams. Each team will consist of 3 to 5 participating senior high school students (Grade 11 and 12). Each team is required to have a moderator or faculty advisor from the same school to facilitate any type of training or preparation.

ROUNDS

The competition will be divided into 3 rounds.

ROUND 1
The first round will be the identification of team members and their mentor. Teams will be required to create a Team Profile by following the instructions available at http://brightidea.enderuncolleges.com/wp-login.php?action=register. All teams will be required to attend one Entrepreneurship Master Class to help them develop their business concept and to learn how to deliver an elevator pitch. The teams’ moderators may also join the master class.

ROUND 2
The second round will be the submission of a project description by updating their Team Profiles available at brightidea.enderuncolleges.com. The teams will be judged by Enderun Colleges’ business and entrepreneurship faculty based on the feasibility and potential of their proposed projects. Only 10 teams will be chosen for the final round.

There will also be an online voting system where the public can vote for their favorite team. The team with the highest number of votes will automatically be one of the 10 finalists. The teams will be notified if their business concept qualified for the final round.

ROUND 3
In the final round, the top 10 teams will pitch their business concept to the judges, who will act as venture capitalists, investors, or business executives. These 10 teams may belong to the same school and compete during the final round. Furthermore, it is possible for teams from the same school to win the top prizes

PRIZES

The following awards and prizes will be given during the final round:

  • Grand Champion
    The grand champion will receive PhP 50,000 and a trophy.
  • First Runner Up
    The first runner up will receive PhP 10,000.
  • Second Runner Up
    The Second Runner up will receive PhP 10,000.

COMPETITION MECHANICS

  • Participating teams must complete an Intent to Join form available at brightidea.enderuncolleges.com. Online forms are also accessible via all official Facebook fan pages of Enderun Colleges (Enderun Colleges, Enderun Colleges Admissions and Enderun Extension). At this stage of the competition, details on business concept will not be required yet. Each team will be assigned a Team Profile that they can access as the competition progresses.
  • Teams of 3 to 5 members are eligible to join the competition as long as they are high school students (Grade 11 and 12) and have identified a mentor. They should also get a clearance to join from their respective class advisers/principals. Deadline of submission of Intent to Join form is 30 November 2016. Each school can have a maximum of 3 teams.
  • The participants will be invited to attend an Entrepreneurship Master Class at Enderun Colleges on any one of the following dates: 08 October 2016, 15 october 2016, 22 October 2016, or 26 November 2016. Experts will also be present to help mentor the participants during the training. The training is prior to the main challenge event. Attendance of at least one member of the team is required to proceed to the next stage of the competition.
  • After attending the Entrepreneurship Master Class, all teams will be required to send a 1000-word description of their business concept by updating their Team Profile at brightidea.enderuncolleges.com. Only one entry should be submitted per team. Deadline for the submission of business concept is on 17 December 2016, 11:59PM. Teams can make revisions on their business concept before the deadline. After the cut-off, all Team Profiles will be locked.
  • From the submitted business concepts, Enderun will choose the teams who will be given the chance to pitch their business concept during the final round. Only 10 teams will make it to the finals.
  • There will also be an online voting system where the public can vote for their favorite team. The team with the highest number of votes will automatically be one of the 10 finalists. Online voting will be from 13 January 2017 to 22 January 2017
  • The teams will be notified via email on 23 January 2017 if their business concept qualified in the final round. Announcement will also be made on brightidea.enderuncolleges.com and Enderun Colleges’ Facebook Page
  • The final round will be held on 02 February 2017. Each team will be given 3 minutes to pitch their idea to the judges who will act as venture capitalists, investors, or business executives. Only one member of the team will deliver the pitch. Powerpoint or other forms of visual presentations will not be allowed. However, prototypes and samples of the products will be allowed as props. Each team has to answer all questions asked by the judges for a maximum of 10 minutes.

TERMS AND CONDITIONS

  • There is no entry fee to join the competition.
  • Enderun Colleges reserves the right to amend the competition mechanics and dates without notice in the event of any unforeseen circumstance outside of the organizer’s control. Participants will be notified of any changes to the competition.
  • The participating schools agree to use their name in any promotional material in relation to the competition (e.g. social media posts, online voting system, competition posters, and/ or press releases).
  • Enderun Colleges will conduct photo coverage of the participants during the classes and grand finals. Enderun Colleges will also conduct video coverage and interviews of some participants and coaches. The photos and videos will be uploaded on Enderun Colleges’ social media accounts (e.g. Facebook, Twitter, Instagram and YouTube). Rest assured, the photos and videos that will be uploaded on social media will not compromise the participants and schools’ reputation. The videos are meant to encourage the teams’ school, family and friends to support them during the competition.
  • Entry into the competition will be deemed as acceptance of these terms and conditions.

COLLEGE EDITION

PARTICIPANTS

Each team will consist of three (3) to five (5) currrently enrolled college students. The team is required to have a coach or faculty advisor from the same school.

ROUNDS

ROUND 1 – Submission of Team Profile and Business Concept
Teams apply to the competition by submitting a team profile and an overview of their proposed business venture on or before 30 November 2016.

ROUND 2 – Submission of Proposed Business
Each team will be required to attend an Entrepreneurship Master Class (EMC) at Enderun Colleges scheduled on 19 or 26 November 2016.

After the EMC, each team is expected to refine their business concept and is expected to submit a 1,000-word executive summary of their business plan following the framework discussed in the EMC. Each team is also required to submit a video on their proposed product or service. The deadline for both the executive summary and video is 30 December 2016.

ROUND 3 – Elimination Round
All eligible teams will be invited to do a 5-minute business pitch in front of a panel of select Enderun Entrepreneurship Faculty and industry experts on 25 and 26 January 2017. The panel will choose at most eight teams to qualify for the final round of the competition.

ROUND 4 – Final Round
The finalists will be pitching to a panel of distinguished angel investors on 09 March 2017. Apart from discussing vital elements of their business plan such as the industry profile, target market, unique value proposition, financial projections and operational considerations, each team is required to discuss the required amount of initial funding and their proposed equity arrangement with a potential angel investor.

Teams are also highly encouraged to present prototypes or samples of their products.

PRIZES

The winners of the Next Bright Idea: College Edition will get a chance to secure investments from our Angel Investors.

COMPETITION MECHANICS

Participating teams must complete an Intent to join form available at brightidea.enderuncolleges.com.Online forms are also available via all official Facebook fan pages of Enderun Colleges (Enderun Colleges, Enderun Colleges Admissions and Enderun Extension). At this stage of the competition, details on business concept will not be required yet. Each team will be assigned a Team Profile that they can access as the competition progesses.

Teams of 3 to 5 members are eligible to join the competition as long as they are enrolled college students and have identified a mentor. They should also get a clearance from their respective class advisers/principals. Deadline of submission of Intent to join form is 30 November 2016. Each school can have a maximum of 3 teams.

The participants will be invited to attend an Entrepreneurship Master Class at Enderun Colleges during the month of November. Experts will also be present to help mentor the participants during the training. The training is prior to the main challenge event. Attendance of at least one member of the team is required to proceed to the next stage of the competition.

After attending the Entrepreneurship Master Class, all teams will be required to send a 1000-word executive summary of their business plan by updating their Team Profile at brightidea.enderuncolleges.com. Each team is also required to submit a video on their proposed product or service. only one entry should be submitted per team. Deadline for the submission of both the executive summary and video is on 30 December 2017, 11:59 PM. Teams can make revisions on their business concept before the deadline. After the cut-off, all Team profiles will be locked.

From the submitted business concepts, Enderun will choose the teams eligible for the elimination round. Each team will be given a chance to do a 5-minute business pitch in front of a live panel of selected Enderun Entrepreneurship Faculty and industry experts on 25 and 26 of January 2017. the panel will choose at most eight (8) teams to qualify for the final round of the competition.

Finalists will be announced at the Entrepreneurship Conference on 01 February 2017. The teams will be notified via email if their business concept qualified for the final round. Announcements will also be made on brightidea.enderuncolleges.com and Enderun Colleges’ facebook page.

The final round will be held on 09 March 2017. Each team will be given 5 minutes to pitch their business ideas to a panel of distinguished angel investors. All finalists stand a chance to receive substantial funding from the angel investors, subject to a meeting of minds between two parties and any contractual agreements relevant to it.

TERMS AND CONDITIONS

There is no entry fee to join the competition.

Enderun Colleges reserves the right to amend the competition mechanics and dates without notice in the event of any unforeseen circumstances outside of the organizer’s control. Participants will be notified of any changes to the competition.

The participating schools agree to use their name in any promotional material in relation to the competition (e.g. social media posts, online voting system, copetition posters, and/or press releases).

Endeun Colleges will lso conduct video coverage and interviews of some of the participants and coaches. The photos and videos will be uploaded on Enderun Colleges’ social media accounts (e.g. Facebook Twitter, Instagram and YouTube). rest assured, the photos and avideos that will be uploaded on social media will not compromise the participants and school’s reputation. The videos are meant to encourage the teams’ school, family and friends to support them during the competition.

Entry into the competition will be deemed as acceptance of the terms and conditions.