Thank you for your interest in competing in the 2015 UCF Joust New Venture Challenge. In order to qualify,
you must submit this completed application by email on Tuesday, March 17th, 2015 to [email protected]. Please
make sure that your application file and email subject line is “Last Name_FirstName_2015JoustApplication.”
For rules, eligibility, judging criteria, and important dates, check out our website at www.cel.ucf.edu/joust
If you have questions, contact us at [email protected] or (407) 823-3683. Good luck!
Applicant Information
Name:
Major:
Graduation Date:
Major:
Graduation Date:
Major:
Graduation Date:
Major:
Graduation Date:
Explain your role on the team:
Team Members
Name:
Explain your role on the team:
Name:
Explain your role on the team:
Name:
Explain your role on the team:
Venture Overview
Venture Name:
One-sentence description:
Website URL:
What problem will your venture solve:
What is your idea/solution:
Target Market Size:
Number of Customers:
Main Competitors:
Expected annual revenue this year:
Number of employees:
Total fundraising to date:
Current Stage & Next steps:
Executive Summary
Please fill out the following sections describing your venture. You may use the examples provided to guide
your responses. Please delete the examples as you add your responses.
Objective:
NARRATIVE EXAMPLE: [The Company] was founded in [year] and [describe what your business does or
its principal mission or objective. For example “and is a growing manufacturer of pencil lead”]. Our principal
offices are located in [x].
Business/Product or Service:
NARRATIVE EXAMPLE: [The Company] makes [describe your product/service line]. The Company
produces/provides the following products/services: [list products here in order of significance]. Presently,
our [main product] competes primarily based on [competitive advantage]. Our future plans include
developing [x, y, and z] in [year or timeframe].
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The Market:
NARRATIVE EXAMPLE: We define our market as [define market. e.g. women’s athletic apparel, kitchen
appliances, small business software]. The total market size was approximately [$x] last [period available],
and is expected to grow by [x%] by [year]. We currently hold [y%] of this market and believe we can capture
[z%] of it by [year]. We have collected feedback from potential users who have said [testimonials, letters of
intent, etc.].
Competition:
NARRATIVE EXAMPLE: We compete directly with [x and y] and alternatives to our product include [u and
v]. Our product is unique/superior because of [x]. We have a competitive advantage because of our [speed
to market, low cost, better design, etc.].
Risk/Opportunity:
NARRATIVE EXAMPLE: Our biggest recognized opportunities include [a, b, c]. The greatest risks
associated with our business today are [x, y, and z]. We feel we can overcome these risks because of [m].
Management Team:
NARRATIVE EXAMPLE: The management team is led by Chief Executive Officer [Name of CEO] who
[founded the company in (year) [Add any relevant education and previous work experience]. The [title of
position] is [name of position holder], [Add relevant work experience and education].
Operations:
NARRATIVE EXAMPLE: We have [manufacturing facilities/offices/branches] located in [location, location,
location]. We currently perform [u] in house, while outsourcing [v]. Our total full time staff is expected to be
[# people] and our products are distributed by [method or distributor].
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Capital Requirements:
NARRATIVE EXAMPLE: MANY VENTURES DO NOT REQUIRE INVESTORS (they grow based on the
revenues they earn). However, if you believe your venture will need equity financing (like you see on Shark
Tank) then you should write something like the following: “We are seeking [$] which will enable us to
[describe what you will accomplish with the funds] by [describe how the funds will be spent]. We expect to
provide an exit within [x] years by [recapitalization, sale of company, public offering, etc.] that will earn our
investors a [%return, often described as a multiple like 5X if they earn back five times (500%) of their
original investment].”
Financial Snapshot:
NARRATIVE EXAMPLE: If you have sales you can say something like “In [the most recent quarter/month],
our company had sales of [x], and net income/profit of [y], compared to sales of [u] and net income of [v] in
[the previous quarter/month].” If you do not have sales yet, you can base your response on the financial
projections added to the table below.
Year 1
Year 2
Year 3
Unit Sales (# sold)
Revenues (units x price)
Costs of Goods Sold (cost per
unit x # units sold)
Operating costs (other costs
such as rent, utilities, etc.)
Salary costs (for employees and
contractors)
Profits (revenue – all costs)
An eligible submission contains all required materials. By submitting an entry the student venture represents
that materials submitted are original and have been created by participant(s) or necessary rights have been
secured and disclosed in the event they were developed by others. Ventures submitted for the Joust cannot be
kept confidential, so do not include detailed descriptions of intellectual property in your submission.
Participants retain ownership over their ventures and legally protectable concepts and ideas. Joust participants
authorize the UCF CEL and affiliates to use a summary of the content of their submission and any video and
image submissions for publicity purposes related to the Joust.
Signature
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