Have you ever wondered?
- What if there was a product that solved the _______problem?
- What if there was an organization in our community that _______?
- What if there was a quicker (easier, cheaper, more environmentally friendly) way to ______?
- What if an existing product was modified to save space, time, energy or money?
- What if we combine ______ with _______ to create ______?
- What if there was a non-profit organization that helped _______?
… and the list goes on.
Well, wonder no more. Get to work! Put your great ideas into action. Enter the PioBiz Competition to win up to $10,000.
What is PioBiz?
PioBiz is a business start-up competition consisting of three rounds: Problem/Solution, Proof of Concept and Business Plan.
Who can compete?
Any full-time, current, or recently graduated (in December 2019 or after) Marietta College (MC) student may compete in 2021-22 PioBiz alone or as a member of a two, three, four, or five person team. The second, third, fourth, or fifth team members do not have to be MC students or alumni. However, all MC students or alumni members of a team must have an ownership stake in the proposed business. Each team may enter each round of the competition with up to three different ideas. Only the MC members of a team may serve as the team leader or make presentations. The Non-MC members of a team may only participate in the segment or the competition that is devoted to Q&A with judges. Only the leaders of the winning teams will directly receive the award money.
What types of ideas qualify for the competition?
Any idea that potentially results in the establishment of a new for-profit or non-profit business will work. The exceptions are:
- Proposals to buy franchises or distribution centers of existing companies.
- Business ideas that are not appropriate for a college-sponsored competition.
- Proposals to establish a business that has already been in existence for more than a year with revenue of $10,000 or more.
Do we have to participate and win in the previous round of the competition in order to compete in the next round?
No. However, the experience that you gain and the feedback that you receive from participating in the previous round of the competition definitely increases your chances of winning in the next round of the competition.
What are PioBiz Workshops?
To prepare you for the competition and increase your probability of success, we encourage (but not require) you to participate in PioBiz workshops. This spring 2021 we have scheduled two workshops as described below.
Workshop 1: Where do worthy entrepreneurial ideas come from?
- February 4, 2021: Starts at4:30 pm in Thomas 209 and/or online
- In addition to inspiring you to develop your ideas further, this session also provides general guidelines on the Problem/Solution Round of the competition and addresses your questions and concerns.
- Register here
Workshop 2: How do you prove your business concept?
- March 18, 2021: Starts at 4:30 pm in Thomas 209 and/or online
- In addition to providing you with individualized feedback on how to convince the judges that your ideas are feasible, this session also provides general guidelines on the Proof of Concept Round of the competition and addresses your questions and concerns.
- Register here
Do we have to participate in PioBiz workshops in order to compete?
No, but participating in PioBiz Workshops increases your chances of winning an award by:
- assisting you to identify marketable business ideas,
- providing you with the opportunity to meet your potential business partners,
- briefing you on a variety of methods to test the validity of your proposed goods or services,
- informing you about resources that the Entrepreneurship Program makes available to you,
- outlining dos and don’ts of research with human subjects,
- walking you through the components of the required business plan.
Also, if you are pursuing a certificate, minor, or major in Entrepreneurship, you may count the participation in the PioBiz workshops toward the required hours of out-of-class entrepreneurial activities.