Venture Cup IDEA is open and runs until the 7th of November. Venture Cup STARTUP opens the 11th of December.
2. I want to compete but some of the information in my business idea is confidential, and Venture Cup’s competition is open for anyone. How do I do?
When submitting an entry to our competition you can choose to write some information in so-called Hidden Fields. The text you add in these fields will only be visible for your team members and The Jury which have all signed confidential agreements.
3. Are all type of ideas welcome?
Yes, all kinds of ideas can compete in Venture Cup. Depending on what stage your business is in, you compete in either Venture Cup IDEA or Venture Cup STARTUP. If you are unsure, we suggest that you look at Venture Cup rules and that you contact the nearest regional office if you have further questions.
4. Which region do I compete in?
In Venture Cup STARTUP you compete in one of four regions depending on which county you live in. If you compete as a team you compete in the region where the team leader resides. The team leader is appointed jointly by your team and registered as a leader when you upload your entry in the competition tool.
5. How do I know to which region I belong?
Northern Region: Västernorrland, Jämtland, Västerbotten and Norrbotten County
Southern Region: Kronoberg, Kalmar, Blekinge and Skåne.
Eastern Region: Stockholm County, Södermanlands County, Östergötlands County, Örebro County, Västmanlands County, Dalarnas County samt Gävleborgs län
Western Region: Jönköping, Halland, Västra Götaland and Värmland.
6. Can I submit more than one idea?
Sure, you can compete with as many ideas as you have. The only requirement is that your idea/s/ meets the Venture Cup competition rules. You register each idea as a separate idea in the Venture Cup competition.
7. Do I have to compete as a team or can I compete individually?
You can compete individually or as a team, what you choose to do is up to you. However, we want to recommend our contestants to team up – since two minds usually work better than one does. If you participate as a team, all participants must be registered in IdeaHunt when you upload your entry.
8. Should I write in Swedish or English when competing?
It is possible to compete in either Swedish or English. However, we recommend English.
9. What is the jury looking at when they evaluate the entries?
Go to: Rules in each competition. You’ll find that document under the Brief of each competition.
10. Where do I sign up to join the contest?
You register at venturecup.ideahunt.io. When you register an account on IdeaHunt to enter the competition an e-mail will be sent to youwhich you need to confirm to be able to complete your submission. Sometimes this e-mail ends up in the ”skäppost”/spamm filter so have a look there if you can´t find it in your inbox. When your account is created select the competition you want to join and upload your entry. Once you upload your entry, before the deadlines, you will receive feedback and are able to follow the competition.
11. What can you win?
See rewards in separate competitions. You’ll find that document under the Brief of each competition.
12. Who may compete in Venture Cup?
For full terms and conditions for participation in the competition, see the rules. Below are some of the common criteria one needs to fulfill in order to participate in Venture Cup:
– You must have a connection to Sweden; either reside here, study, work or similar.
– Business ideas in companies with existing operations and sales may not participate in the competition, except for the idea spun off into a new company (read our full rules for details).
13. How is Venture Cup organized?
Venture Cup is a national, nonprofit organization with offices across the country. Venture Cup’s competition is divided into four regions; Venture Cup North, South, East, and West. In addition to these regions, Venture Cup has sister organizations in Norway and Denmark.
14. How does Venture Cup deal with privacy issues surrounding the competition?
Venture Cup and all of its affiliated companies respect the intellectual property of others, and we ask our users and content partners to do the same. The unauthorized posting, reproduction, copying, distribution, modification, public display or public performance of copyrighted works constitutes an infringement of the copyright owner’s rights. As a condition of your use of Venture Cup, you agree not to use any Venture Cup sites to infringe the intellectual property rights of others in any way.
15. Who is on the jury?
The jury consists of entrepreneurs, venture capitalists, industry experts and more. The jury has great knowledge and extensive experience in starting and running businesses and make them grow. If you are more curious, you can read more about the jury here.
16. How does the jury process work?
First of all the crowd will give feedback, rate and like the ideas. On deadline, the best ideas according to the crowd’s voice will be handed to the Jury that will decide the winners. In STARTUP, all the entries are sent to a pre-jury meeting where they are screened
The 50 highest scoring entries will be evaluated by The Jury, and they decide which of these 50 entries that will be presented on our Top 20 list.
All entries are sent to a pre-jury meeting where they are screened, and they decide which 10 will be invited to the pitch deck. These Startups will present in front of the jury which then will vote which Startup will win in each category.
17. How do I keep myself updated about the contest and all the activities in Venture Cup?
The easiest way to keep yourself updated is by registering to our newsletter, where you get information about everything that happens in your region. You find the sign-up button at the bottom of our homepage.
18. I have previously participated in the Venture Cup, can I compete again?
Of course, if you have a new idea. In other cases it depends. Have you participated with your idea before and have been nominated in the regional finale or attended the pitch deck meeting, you may not compete. If you have competed before, but not been nominated, nor asked to pitch during the pitch deck you may compete again. Contact a project manager in your region if you are unsure about what applies!
19. What is Venture Cup’s goal?
Venture Cup strives to inspire more entrepreneurs to test their business ideas and create sustainable growth companies
20. How was Venture Cup founded?
Venture Cup was founded in 1998 by McKinsey & Company, together with Chalmers and Göteborg University, who saw a need to support entrepreneurs and the construction of new sustainable growth.
21. We have a business today, can we still compete in Venture Cup?
It depends. Venture Cup’s purpose is to benefit and pep new business ideas in the early stages. Therefore, we think it is an unfair advantage for established companies with a strong economy and good growth competing against ideas that have not yet started. Your business must not have received more than 100,000 SEK (IDEA) or 1,000,000 SEK (STARTUP) in funding or revenue.
22. What counts as funding and revenue?
Funding, revenue or investment may not exceed 100,000 SEK in total. (STARTUP 1000k)
Loans, financial support, and grants are excluded from the above-mentioned amount.
By financial support and grants, we refer to:
- Wins or prize money from other competitions
- Business support from VINNOVA
- Innovation vouchers
Funding through sales to customers is something we see as a positive thing, but until the time when you compete in IDEA the sales may not exceed 100,00 SEK. (STARTUP 1000k) Equity capital and investments may be made, once again the maximum is 100,000 SEK. (STARTUP 1000k)
Ideas that are submitted to the competition will receive feedback throughout the competition process. Ideas submitted in the last two weeks of the submission period may receive feedback after the competition has closed, due to the high workload on our professional network who volunteer after working hours.
25. Are there any benefits of early submission?
The advantage of submitting the idea early on in the competition, is that you have the chance to get more response to your idea. Both regarding marketing at the platform and feedback. The process is developed to add the most value to those who submit early since they are given a chance to take action on the given feedback, iterate their idea and get more feedback on the updated version. You can iterate your idea and change it to the platform as many times you like up until the competition deadline.
26. What could I do to get more feedback?
1. Submit an idea that complies with the competition standard since these ideas will get feedback from Venture Cup's professional network.
2. Tag your idea in Idea Hunt before you submit it. Use relevant tags connected to your idea so that the right people in the professional network sees your idea.
3. Promote your idea actively on social media. For example by sharing it on Facebook and LinkedIn. You can also give other competing ideas feedback and refer back to your submitted idea.
4. Invite people from your professional network to participate in the Venture Cup community by giving you feedback on your idea. The registration of a profile in Idea Hunt is simple, and it will only take a few minutes before they can start writing feedback.
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