Big Idea

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Big Idea Gator Business Plan Competition

A competition designed to bring students’ cool ideas to life.

1^st

^$25,000

2^nd

^$10,000

3^rd

^$5,000

4^th

^$1,000

$5,000 Award for the Team that Best Leverages Artificial Intelligence (AI)

$3,000, $1,000 and $1,000 Awards for the Top Teams that Best Leverage Blockchain

Registration for 2024 Competition Now Open!

The Big Idea Gator Business Plan Competition was created to help students grow their business ideas. It is a four month competition in the spring where teams of students begin by creating growth-oriented business models. These teams go on to research and produce rough drafts to complete business plans. The top 4 teams compete for a chance to win over $40,000 in prizes. The Center offers mentoring and various other helpful resources along the way.

Entry Requirements & Registration

The entry period for the 2024 Big Idea Competition is now open. Please submit your intent to compete by December 15.

Students can enter the competition individually or form teams
The team leader must be an enrolled student at any college or school at UF
A business plan is not required to register. You will have an opportunity to develop a business plan during the competition. Competitors will have access to the Business Plan Lab during the spring semester.
The business submissions must be the team’s own original work and ideas
Have a clear vision of what business you’re trying to create, and have a good idea of the potential as well as the issues of the intended business.

If needed, team members can be updated throughout the competition.

Please note that the entrant must certify that at least one member of the team was an enrolled student at the University of Florida during the Fall and/or Spring semesters of the academic year in which the competition falls.

If you do not have a team, but you are interested in collaborating with others, complete the Join a Team Form.

Competition Format

Graduate and undergraduate competitors enter individually or in teams to create growth-oriented business models.

Teams submit their basic business models for judging in the preliminary round, which takes place in early February. At this point, teams need only submit a plan overview.

The second phase begins when judges review the preliminary entries for the strongest high-potential ideas.

The competitors who make it to this point must finish researching their new ventures and write a complete business plan by April 10th.

Judges will then narrow down the field to 16 semi-finalists who will present their plans to a panel of investors on Thursday, April 25th. From there, four teams will have one day to refine their pitches before delivering one final presentation on Friday, April 26th for the chance to win $25,000 in first place prize money. These two events are open to the public.

Schedule

Prizes

The top three competition winners—those who represent the best potential for growth and for attracting outside financing—will receive grand prize money.

First place receives $25,000 towards their venture. Second place receives $10,000, and Third place receives $5,000.

You can also win special prizes including:

Fourth Place – $1,000
Best Use of Artificial Intelligence ($5000)
Best Use of Blockchain ($5000)
Best Social Impact & Sustainability Prize ($1,000)
FNN Global Impact Award ($1000)
The FNN Global Impact Award celebrates the entrepreneurial spirit of student-led startups making waves in tackling global challenges. Recognizing innovative solutions and persistent efforts, this accolade shines a spotlight on the commitment of young visionaries dedicated to solutions that have the potential of worldwide impact. By fostering positive change on a global scale, these trailblazing startups contribute to a more sustainable and impactful future.

The plans must be successfully presented to a panel of judges. The rules section of this website covers specifics about the competition. The prize money is offered as seed money to promote the plan’s enactment. The business must actually be started, and prize money checks are written to the new companies, not the individuals.

Judging

Judges review the complete business plans on the following criteria:

Concept strength
Market
Economics of the business
Operations
Management team
Financing

The completed business plans are due April 10th. The judges select the top 16 teams to compete in the final presentation phase. This phase takes place over two days.

On day one, each team will have 15 minutes to verbally present their plans to judges. Judges then have 15 minutes to question each team.

From this, the top four teams are chosen to compete on day two—before a different panel of judges. Winners are determined and awards are presented after a second round of presentations. The semi-finals and finals are held on April 25th and 26th, respectively.

Note that this is a competition in which both the innovativeness of the business idea and the quality of the full business plan are evaluated. The competition rewards creative thinking regarding new markets, products and services, as well as the team’s strategy to implement its plans.

Business Plan Help

We strongly recommend you follow the format of the Nuts & Bolts of Great Business Plans document. In addition to the Business Plan Lab, online resources are available to support you throughout the process.

The Center will work with you to enhance your business plan. We offer a Business Plan Lab (ENT4934 / ENT6930) that can be taken for credit or as an optional free workshop, mentoring from our experienced faculty and successful entrepreneurs, online resources for preparing financial statements, special sessions with accounting and law firms that have partnered with us and access to a video library of former business plan presentations.