Attention LEC Undergraduate Students:
Do you have an innovative idea that you’re eager to share? Want the chance to elevate your concept—and maybe even win some serious cash (up to $1,500)? For any questions, please contact Peter Apicella at papicella@lec.edu. But hurry! The submission deadline is quickly approaching!
Program Overview:
ideaLabs at LEC is an exciting opportunity exclusively for undergraduate students. This competition invites teams of 1–3 students to present their entrepreneurial ideas and compete for valuable prizes.
Key Deadlines and Requirements:
Round 1: Recorded Elevator Pitch
Deadline: Tuesday, March 18th by 11:59 PM
Format: Video submission (YouTube or Vimeo)
Video Length: Maximum of 3 minutes
Details: Create a video pitch showcasing your idea. Focus on answering the following questions:
What problem does your idea solve?
How does your solution work (product or service)?
Who is your target market, and why will they buy it?
What resources do you need to make this idea a reality?
Record your pitch using any tools, including Zoom. Ensure your video is set to public on YouTube or Vimeo and Submit your pitch here
For any issues, use the Preview button at the top of the form or send your video to papicella@lec.edu as a backup.
Selection: Up to five finalists will be chosen to move to the Final Live Pitch Deck Presentations on March 25th.
Round 2: Live Pitch Deck Final Presentation
Date: March 25th, 3:15 PM, Coe Conference
Format: PowerPoint presentation (not Google Slides)
Presentation Duration: 6 minutes, followed by 2 minutes for Q&A with the judges
Submission Deadline for PowerPoint Deck: March 23rd, 11:59 PM. Send presentations to papicella@lec.edu. Bring a backup on a USB drive to the event.
Important: Finalists must arrive at the Coe Conference by 3:00 PM for the event, which begins promptly at 3:15 PM.
Pitch Deck Guidelines:
Your PowerPoint presentation should clearly and creatively address the following questions:
1. What problem are you solving?
2. How is it solved today?
3. How will you solve it?
4. What is the value proposition of your solution?
5. Who is your target customer?
6. What is your addressable market size?
7. What are your distribution channels?
8. Who are your competitors?
9. What are your start-up costs?
10. What other resources do you need?
Presentation Tips:
Keep it concise: Limit to 6 minutes for presenting.
Readable text: Use 30-point font and focus on key points to keep the judges engaged with you, the presenter, rather than the slides.
Prizes:
The total prize pool is $1,500:
1st Place: $650
2nd Place: $400
3rd Place: $250
Honorable Mentions (2): $100 each
Bonus: The top 2 winners will also have the opportunity to compete at the YEI / EEC Live Regional Competition on April 8th at Eaton Corporation in Beachwood, Ohio, where you could win up to $10,000 in additional cash awards!
Eligibility & Additional Notes:
The business concept must be new and developed within the last 18 months.
Eligible business ventures are also welcome to participate.
ideaLabs is organized by the Young Entrepreneurship Institute (YEI) and the Entrepreneurship Education Consortium (EEC).