Frequently Asked Questions
What are the judges looking for in the student categories?
The judges will be looking for 4 main things:
1. Model - what is your business model? They will be seeing if you clearly define the problem you are solving and have developed a unique value proposition for your customers. They will also be checking you have a sound revenue model (what do you charge for your product and what does it cost to make?).
2. Market Potential - what is the potential market for your solution? Who has the problem and what is the size of your market and/or the impact you will make if you solve this problem?
3. Management Team - why are you the person or team to make this venture successful? They will be looking for what skills and mindset you bring to the venture and to what degree you are partnering or seeking mentorship to build your venture.
4. Momentum - execution is key here! The judges will be looking to see what you have done so far - research, prototypes, a crowdfund, early sales, partnerships - anything that shows you are on your way!
What are the judges looking for in the adult categories (entrepreneurial educator or youth mentor)
In these categories the judges will be looking for how you have helped remove barriers (perceived or real) for your students/mentees and how have you championed entrepreneurial education outside of your student/mentee relationships?
My business has only just started - can I enter?
Yes! We encourage all young people working on business ideas to submit for the Awards! We will provide all entries with some feedback and link to other opportunities for you so everyone will get something out of taking part! Don't forget, the early stages of business are about understanding the problem you are trying to solve, the validation or research you have done and what early momentum you have so ensure you include as much on those aspects as possible!
If I win, what will happen next?
The winners from each category will share in a prize pool valued at $20,000 to include mentoring, experiences and prizes. Select teams will also be able to share their story at our awards ceremony.
What happens to my entry?
Entries are stored on our system and shared with our judging panel and media as a condition of entry. We recommend that you share information about your business that is generally public information as you would put on a website. As an analogy, if you have a secret recipe you can share information about the dish and a marketing photo without disclosing the ingredients list. If we are looking to share your story specifically with the media we will contact you with further requests (for example a team photo or video etc). The Teens in Business team respect your privacy and will only contact you in association with the Awards or other entrepreneurial learning opportunities.
What age is a Tween versus a Teenpreneur?
10-12 year olds are encouraged to enter the Tweenpreneur category and 13-18 year olds are invited to enter the Teenpreneur category. If you are a team, you should submit based on the oldest member of your team. For example, if you have two 12 year olds and a 13 year old you should enter the Teenpreneur category. Similarly, if you have a 7 year old and a 10 year old working together you can enter as a team in the Tweenpreneur category.
Can I enter more than one category?
Absolutely. You should save your responses into a word document or note as some of the questions will be the same across categories. That way you can copy and paste and spend your time on the unique category questions. Good luck!