The Larry H. & Gail Miller Center for Entrepreneurship
 

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We are no longer accepting applications. Thank you!

What is Opportunity Quest?

Opportunity Quest is a business model competition that seeks to find the most innovative business ideas with a high potential for growth. The competition is open to all SUU students.

Opportunity Quest is part of the Utah Entrepreneur Challenge, a state-wide, university entrepreneur competition and is made possible by a generous donation from Zions Bank.

Who should participate?

  • Students operating businesses at any stage
  • Students with high-potential business ideas

Why participate?

  1. Get helpful feedback on your business
  2. Build your network by meeting like-minded students, faculty, alumni, and judges
  3. Receive a veteran entrepreneur as a mentor from SUU’s ELC
  4. Get cash to build our business
    • First place: $5000 and automatic entry into the $40,000 grand-prize Utah Entrepreneur Challenge
    • Second place: $1000
    • Honorable Mentions worth $200

How to enter

A business model is a brief document that outlines the problem and solution your business is addressing. The purpose of the document is to convince the reader that the business viable and has the potential to grow.

Your business model should be a 3 to 6 pages (with standard 1-inch margins and a 12-point font size). All pages, except the cover page, should be numbered.

Your business model should cover:

  • Company overview: Include the most important points about your business idea — your history, product or service, mission statement and legal structure if applicable.
  • Product or service: Describe product or service for sale, stage of development, market differentiation and intellectual property if applicable.
  • Market: Describe the market where you aim to sell your product or service. Include target market, competitors in the market and an analysis of your competitive advantage.
  • Sales strategy: Explain how you will go about selling your product or service while increasing profits. Include marketing strategy, distribution channels, key partners and relationships.
  • Revenue model: Describe how your business generates revenue. Include the cost to produce, cost to sell, customer acquisition strategy and market price for the product or service.
  • Team: Describe who is currently on your team, their role, education and experience. Detail current and future personal needs.

Schedule

  • Application deadline: Thursday January 23rd before midnight
  • Finalist notification: Saturday January 25th
  • Finalist competition: Tuesday January 28th 5:00 – 7:00 PM

Eligibility

  • The team must be organized and directed by a student from SUU.
  • The founding student must be registered for a minimum of six (6) credit hours.
  • The student team members must be involved in all aspects of the competition.
  • The team must not have been an award winner in past Opportunity Quest competitions from previous years.
  • There are no restrictions regarding other team members; however, we suggest building a balanced team with a strong combination of finance, marketing, engineering and technology skills.

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