2023 Utah Veteran Business REsource CEnter Minnow Tank, APPLY TO COMPETE FOR SEED FUNDING!

 Graduates of the SLCC VBRC STRIVE and VEEP Programs are invited to apply to compete for seed funding to support the startup efforts of their company. 

Winning businesses will be awarded seed funding of $3,000 (1st place), $2,000 (2nd place), and $1,000 (3rd place) with the opportunity to receive identical funding for up to a total of $9,000 (1st place), $6,000 (2nd place), and $3,000 (3rd place) if the identified benchmarks are reached by the business within the specified timeframe. 

Requirements for consideration are outlined below. Each business applying to compete for seed funding must meet all of the following eligible business qualifications listed:

• The business must be formed and registered in the State of Utah and in good standing (current business license without restrictions).
• The majority ownership (51% or more) in the business must be held by a veteran and/or spouse of a veteran.
  
• The majority business owner must be a graduate of one or both of the Utah SLCC VBRC STRIVE or VEEP Programs, including completion of the final presentation.
• If not still in active duty, the identified veteran owner must have a standing of better than dishonorable discharge (submit DD214). Please make sure to block out your social security number and other sensitive information on your form and email to bguertl@slcc.edu to complete your application. 
• Applicants cannot be employees of the VBRC or a previous recipient of seed funding provided through the EEP, VEEP, or STRIVE Programs at SLCC.

Presentations will be evaluated using the following rubric: 

1. Problem and Solution (20 points)

• Clear identification and explanation of the problem or need in the market (5 points)
• Innovative and viable solution presented (5 points)
• Convincing explanation of how the solution addresses the problem (5 points)
• Potential impact and benefits of the solution discussed (5 points)

2. Unique Value Proposition (15 points)

• Clearly articulated unique value proposition (5 points)
• Benefits of the product/service to customers are well-defined (5 points)
• Comparison with existing solutions or competition highlighted (5 points)

3. Market Opportunity (15 points)

• Thorough understanding of the target market and its size (5 points)
• Evidence of demand and potential for growth (5 points)
• Identification of target customer segments (5 points)

4. Business Model (15 points)

• Logical and sustainable revenue generation model (5 points)
• Clear pricing strategy and monetization plan (5 points)
• Cost structure and potential profitability explained (5 points)

5. Execution Plan (15 points)

• Well-defined roadmap for product/service development or implementation (5 points)
• Feasible timeline for key milestones and activities (5 points)
• Team's capabilities and roles outlined (5 points)

6. Presentation and Communication (10 points)

• Clear, organized, and engaging presentation (3 points)
• Effective use of visual aids (3 points)
• Ability to answer questions confidently and persuasively (4 points)

7. Overall Impression (10 points)

• Overall enthusiasm and passion for the business idea (3 points)
• Potential for scalability and long-term success (3 points)
• Alignment with current market trends and industry insights (4 points)