Q1. Why do I only have 140 characters? My idea is so fantastic / amazing / brilliant / clever (delete as appropriate), I can’t possibly communicate it in 140 characters.
Get a grip. Yes you can. This is a crucial first test for any aspiring entrepreneur or startup; can you explain simply, succinctly, and in jargon free language exactly what your idea is all about. If you can’t, it doesn’t matter how good the idea is you’re going to have real problems trying to communicate and connect with people – be it potential team members, investors, or customers.
Q2. What’s to stop somebody stealing my idea once I’ve uploaded it to The Little 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 is 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 entering The Little Pitch, and the support that follows, will give you a fantastic competitive advantage over any competitor.
Q3. Is it possible for my Little Pitch to be assessed in private?
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 mentoring session with our mentors to discuss your idea.
Q4. 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, particularly undergraduate students. However, if your idea/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 competition organiser, before you enter the competition.
Q5. What criteria will the guest judges be using when assessing the ideas?
Simple, do they like the idea or not. At the end of the day, and bearing in mind all of the other entries that month, which ideas for them stand out the most and, based on their experience, which would they like to see explored in more detail.
Q6. I’ve got loads of brilliant business ideas, how many times can I enter The Little Pitch?
You can submit any number of ideas in any given month. This means there is no maximum of ideas you can submit. However, you can only win the £140 cash prize once. This means that if you were to enter and win in the October round you would not be eligible to win a cash prize in the November round of the competition.
Q7. Can I enter the same idea in different months?
Q8. Can I apply for the final prize of £100 directly in December?