Eastman New Venture Challenge
- Awards
- Examples of Potential Ventures
- What is Entrepreneurship in Music?
- Timeline
- Eligibility
- What to submit
- Judging
- Documents
Do you have an idea that you would love to turn into reality, but need seed funding? The Eastman New Venture Challenge can help you succeed with an idea, no matter how large or small! And, the CMI staff is happy to discuss ideas and help you develop your project throughout all phases of the contest. Share your ideas with us and we will help make your proposal the best it can be!
Description of Contest
The Eastman New Venture Challenge is a contest to encourage new thinking and innovative ideas in music. It gives students the opportunity to develop a project proposal that could result in the launch of a new entrepreneurial initiative.
Entries may be from individuals or teams of up to three students. Entrants must create and present a project proposal that demonstrates creativity and potential for success. The proposals will be evaluated in a preliminary round by a panel of judges who are experts in the field. Two to four student entries will be invited to participate in the final round where each initiative will be evaluated on both the written proposal and an oral presentation. Successful entrants will have demonstrated creativity, innovation, uniqueness, and added value to the music field. Project Proposals will be returned to all entrants with comments and suggestions from the judges.
Awards
First prize: $2,000*; Second prize: $500*Seed money for development of your venture along with advisory support from Eastman’s Center for Music Innovation to help bring your idea to fruition.
*Prize money may be taxable. Entrants should consult their tax advisor.
Examples of Potential Ventures
- New Product Prototype
- Single Event/Series of Events
- Improvement on an Existing Service/Product
- Launching a Music-related Company or Non-Profit
What is Entrepreneurship in Music?
The Ewing Marion Kauffman Foundation grant to the University of Rochester began a dialogue among the Schools within the University that resulted in a much broader definition of entrepreneurship than is usually found in business. “The transformation of an idea into an enterprise that generates value,” is a description that encompasses all areas of study and is the definition in use at the Eastman School.
Timeline
Monday, January 11, 2010 Intent to Compete Form Due
Monday, January 25, 2010 Project Proposal Due
Friday, February 26, 2010 Announcement of Finalists
Friday, March 19, 2010 Final Round of Competition
All materials must be submitted by 4 pm on the due date to the Institute for Music Leadership Office (first floor of the Miller Center).
Eligibility
- The contest is open to all students who are enrolled full-time in an Eastman degree program and are in good academic standing.
- Entries can be by individuals or teams of up to three members.
- Project Proposals must be original work.
What to Submit
- A project proposal (suggested 3-5 pages in length) that includes:
- Summary of Proposed Project
- Description of Company/Organization/Venture
- Product or Service
- Market Analysis
- Strategy and Implementation
- Management Team
- Financial Plan
Judging
- Judges will be selected from experts in the field.
- The Eastman New Venture Challenge reserves the right not to select a winner.
- Several second prizes may be awarded.
- Entrants are encouraged to seek advice from Eastman faculty and staff.
Documents
The following documents outline the contest and provide all necessary information. However, potential applicants are strongly encouraged to attend the information sessions as further contest details and information about business planning will be discussed.
Questions? Contact Professor Ramon Ricker in the IML office.