Q1. I have a great idea but I’m worried that I won’t be able to produce a slick video presentation; should I still enter?
Absolutely! This is a competition to find the most imaginative business ideas and passionate student entrepreneurs; it’s not a competition to find out who has the best video production skills. The type and style of video is up to you. You can borrow an HD video camera for free from Anglia Ruskin’s media services, use your phone camera or a couple of power point slides and a voice over.
Q2. I would like to understand more about the confidentiality of The Big Pitch competition – particularly the video pitching element. All videos posted are not confidential (they will be uploaded on YouTube and posted on www.thebigpitch.co.uk) as stated in the competition rules.
The videos only need to be 1-min maximum and we believe it should be possible to pitch without giving away a critical piece of Intellectual Property (IP). However any applicant needs to be satisfied themselves that they are comfortable with the level of information provided in their public video. Each of the business plans presented in Round 2 will only be reviewed by our expert judging panel and will be treated in the strictest confidence. As with Round 1, all of the grand final pitches in Round 3 will take place in front of a live audience and are not confidential. Guidance will be given to each grand finalist to ensure that any critical pieces of IP are not disclosed in their presentation.
Q3. What’s to stop somebody stealing my idea once I’ve uploaded my video to The Big Pitch website?
There’s always a risk of this in business BUT, before you start running for the hills, you need to remember: having a great business idea and building a great business are NOT the same thing. In fact anyone can have a good business idea but only a few people have the passion, commitment and force of will it takes to build a successful business – you are what makes the critical difference. If you and your idea are good enough, then The Big Pitch will give you a fantastic competitive advantage over any competitor.
Q4. Is it possible for my video pitch to be assessed in private during the first round?
Sorry, but this is not possible. We want to keep everything public so that the rules are the same for everyone. However, you can register with the Startuplab and book a meeting with one of the organisers of The Big Pitch or a mentoring session with our mentors to discuss your idea.
Q5. What about Intellectual Property? Does the University have any claim on my business idea?
In most cases, the university does not claim ownership of Intellectual Property created and developed by students. However, if the innovation was created during the course of a sponsored research project, the university or the sponsor could own your invention. If you have any questions or concerns about ownership of your Intellectual Property, please contact the AREA team, preferably before you enter the competition.
Q6. Why are you using YouTube?
Simple, YouTube has invested billions of dollars developing the hardware and software to process and store every conceivable type video file. By using YouTube we are able to accept videos from as many different people, formats, and devices as possible.
Q7. How quickly will we get our money if we win?
If you are lucky enough to win one of the three cash prizes on offer in this year’s competition you will be invited to prepare a detailed 12-month operational plan (listing key developmental milestones) for review and sign-off by your business mentor. Once this is signed-off, payment will be via instalments in accordance with the key milestones listed in your operational plan.