UVU Opportunity Quest

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Applications Open: Monday, September 26, 2022

Application Deadline: Friday, December 2, 2022

Finalists Notified: Wednesday, December 21, 2022

Final Competition: Wednesday January 25, 2023

Submit Application

Sample Executive Summaries:

Conshus Clothing

NanoCurv

2022 Winners

Brittany Wilding - Bandoggo

Tyler Hacking - Green Dreams Come True

Jameson Tanner - Paze Transaction Technology

Emily Newton - Scouter

Brynn Bailey - Silver Linings

Mitchell Peterson - Trust Furniture

Preston Booth - WINGMN

 

What is Opportunity Quest?

UVU's Opportunity Quest competition is open to all students across the UVU campus. Opportunity Quest gives students a chance to create, develop, and then present their business concepts to a panel of judges experienced in entrepreneurship.

UVU's Opportunity Quest team expresses appreciation to generous support from our sponsors, business coaches, mentors, and judges.  Event Sponsors for UVU 2023 Opportunity Quest Competition are Zion's Bank, and Little Giant Ladders.

Opportunity Quest Overview

Opportunity Quest is an executive summary business plan competition open to all students within Utah Valley University. Individuals or teams can submit entries, but each submission must include at least one current Utah Valley University student in a prominent leadership role.

The competition fosters and promotes business growth at the college and university level by giving students a chance to organize, direct, and present a business idea to a panel of judges. Opportunity Quest provides teams with an educational forum to prepare them for the competition and aid them in the creation and implementation of their business plan.

The following cash prizes will be allocated to the teams by our panel of judges: one $3000 award, one $2000 award, one $1000 award, and two $500 awards. Additionally, there will be a vote for audience favorite at the final competition with a cash prize award of $1000. A select team will also be automatically qualified as a finalist in the Utah Entrepreneur Challenge.

This tremendous undertaking has been made possible by generous support from staff, sponsors, mentors, judges, and faculty members of Utah Valley University.

Eligibility

Each participating team must be organized and directed by a student at Utah Valley University that is enrolled during the Spring semester of the competition or who has applied to compete in the OQ during the fall semester prior to the OQ in the spring. (Student standing will be verified by Opportunity Quest staff).

  • The team must be organized and directed by a student from UVU.
  • The founding student must be registered for a minimum of nine (9) credit hours during both semesters of the competition year.
  • The student team members must be involved in all aspects of the competition.
  • The team must not have been an award winner in past Opportunity Quest competitions from previous years. (This eligibility requirement refers exclusively to Opportunity Quest and does not include any of the other events hosted by the UVU Entrepreneurship Institute.)
  • There are no restrictions regarding other team members; however, we suggest building a balanced team with a strong combination of finance, marketing, engineering and technology skills.
  • For existing companies:
    • If the company has been registered in any state longer than 24 months as of Sept. 1, 2022, a brief history of the company is required in the application.
    • The cumulative revenue, debt, grant, or third-party-financing for the company has not exceeded $100,000 as of Sept. 1, 2022.

An individual team may provide more than one entry; however, each executive summary must be registered separately.

A three-page executive summary (not including a cover page) should be submitted for the final application and include the following: 

  • Company overview: Include the most important points about your business idea — your history, product or service, mission statement and legal structure if applicable.
  • Product or service: Describe product or service for sale, stage of development, market differentiation and intellectual property if applicable.
  • Market: Describe the market where you aim to sell your product or service. Include target market, competitors in the market and an analysis of your competitive advantage.
  • Sales strategy: Explain how you will go about selling your product or service while increasing profits. Include marketing strategy, distribution channels, key partners and relationships.
  • Revenue model: Describe how your business generates revenue. Include the cost to produce, cost to sell, customer acquisition strategy and market price for the product or service.
  • Team: Describe who is currently on your team, their role, education and experience. Detail current and future personal needs.

 

Sponsored by:

Zion's Bank           Little Giant