Opportunity Quest

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No longer accepting applications at the moment.

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 and Southwest Tech 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.

  • Students operating businesses at any stage.
  • Students with high-potential business ideas.
  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 your business.
    • First place: $2,000 and an automatic entry into the Utah Entrepreneur Challenge and a chance to win $60,000 in cash and prizes.
    • Second place: $1,000
    • Third place: $1,000
    • Fourth place: $1,000
    • All businesses generating at least $200 in the 3 months prior to the competition will receive at least  $200.

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 is 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.

Please submit one GOOGLE slide, which will be used in your presentation. Once submitted, you will not be able to make any changes.  This must be submitted with your application. You have the option of using video, but it must be embedded into your slide (not linked).  Please note if you show a video, the video is part of your 90 second pitch.

  • Application deadline: Wednesday, February 3rd before midnight.
  • Finalist notification: Thursday, February 4th.
  • Finalist competition: Friday, February 5th, 5:00 PM – 7:00 PM.
  • The team must be organized and directed by a student from SUU or SouthWest Tech.
  • 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.
  • 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.
  • SUU’s Opportunity Quest competition uses the same application materials as the University of Utah’s Utah Entrepreneur Challenge. We encourage you to apply to both.
  • Each participant/team will present a total of three times. Each time will be in front of a different panel of judges.
  • Each presentation will be 90 Second Pitch followed by approximately 3 minute Q&A, total approximately 4.5 minutes.  
  • After all presentations in participants' first room are completed, participants will rotate to the next room / panel of judges.
  • Judges will stay in their assigned rooms with their cohort of judges.

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