State Bank Business Challenge Details
The State Bank Business Challenge will be held as part of this year’s One Utah Summit, on the Southern Utah University campus. This Business Challenge is intended to help identify and support high-potential early-stage businesses. With $50,000 in cash prizes, all entrepreneurs who meet the criteria are encouraged to consider entering the competition, especially those who are from rural and Southern Utah.
- Business must have generated some revenue by the time of entry. Prior year's total revenue must not exceed $150,000.
- Entries must be submitted by Midnight, September 29th.
- This competition is open to legal residents of Utah and students attending schools in Utah.
- Applicants may enter individually or in groups, but only one entry per person.
-
Must be available to attend in person for both Semi-Finals and Finals. No remote participation will be allowed.
- Video application deadline: Saturday, September 29th at midnight. Must be a YouTube link.
- Notification of advancement in the competition: Wednesday, October 2nd by midnight.
- Round 1: October 7th at 3:30 pm in Dixie L. Leavitt School of Business.
- 90 second pitch, approximately 60 seconds for Q & A
- Round 2: October 8th at 1:30 pm in the Auditorium
- Approximately 7 selected contestants
- 90 second pitch, approximately 3 minutes of Q & A
- This is an early-stage business competition, not a business-idea competition. Businesses must have generated some revenue by the time of submission, but cannot have earned more than $200,000 in 2023.
- This competition is open to legal residents of Utah and students attending schools in Utah
- Applicants must be available for Round 1 (semifinals) on October 7th @ 3:30 pm and Round 2 (finals) on October 8th @ 1:30-2:30 pm. All portions of this event take place in person. No Remote participation will be allowed.
- Individuals involved in the administration of the competition and judges are also disallowed from participating. The immediate family of individuals involved in the competition may participate but are ineligible to receive cash prizes.
- Entries must be submitted by Midnight, September 29th.
- Applicants may enter individually or in groups, but only one entry per person. No person may participate in the presentation of more than one business.
- Entries must describe a business that may be lawfully operated in the United States. Entries must be the original work of the entrant, must not infringe any third-party rights, and may not in any other way violate applicable laws and regulations.
- Proprietary concepts and intellectual property may be protected by a provisional patent or copyright, should the contestant desire. Contestants in this contest will not be penalized for withholding key concepts or intellectual property associated with their business.
- Rules are subject to change without prior notice.
- If you have been a previous winner of the State Bank Business Challenge, you are not able to participate in the event.