Introduction

It’s that time of the year again, when entrepreneurs who want to launch their business will get the chance to prove why their business is worth investing in, at Pitch Competitions for NYC Startups 2024.

In this article, we’ll walk you through how to register and participate, as well as all the details you need to know about Pitch Competitions for NYC Startups 2024, one of which is the New York StartUP 2024 Business Plan Competition

Content

What are Pitch Competitions for NYC Startups?
Requirements & Eligibility
How to register?
Application deadline & Review Process
Prizes to be won
Judging criteria

What are Pitch Competitions for NYC Startups?

Pitch Competitions for NYC Startups refers to business plan competitions that happen in New York City. They give an opportunity to entrepreneurs looking to launch their business.

These entrepreneurs present their business plans and stand a chance to win enough money to kickstart their business and turn their vision into reality.

Requirements & Eligibility

To participate in the New York StartUP 2024 Business Plan Competition, one of the Pitch Competitions for NYC Startups 2024, you must:

Live in Manhattan, The Bronx, or Staten Island
Have a business in Manhattan, The Bronx, or Staten Island
Must have ideas or business models in the start-up phase and have earned less than $10,000

Also, to qualify for Pitch Competitions for NYC Startups 2024, you must view the orientation session. The orientation session is usually done online.

However, if you missed the orientation, you could still access the orientation recordings and presentation documents online.

To access the video, click here. Once you do, you’ll see a zoom page that looks like this:

Pitch Competitions NYC Startups 2024

In the section that says “Fill out the request form to access the recording”, you must register with the email you used for the competition. This is the only way you’ll receive credit for attending the orientation.

Next, you can access the slides from Pitch Competitions NYC Startups 2024 orientation here .

You’ll also need access to NYPL resources related to the program. You can get them here

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How To Register For Pitch Competitions NYC Startups 2024

To register for the New York StartUP 2024 Business Plan Competition, one of the Pitch Competitions for NYC Startups 2024, you can visit their website.

Registration may be closing soon, but if you have all your details early and meet the eligibility requirements, you could still have a shot. You can access Pitch Competitions NYC Startups 2024 website to register

When are Pitch Competitions for NYC Startups 2024?

For now, New York StartUP 2024 Business Plan Competition is the major pitch competition for NYC startups. It’s a process, and the final event for selected winners will happen in December 2024.

After completing the online orientation for the New York StartUP 2024 Business Plan Competition, entrants must have at least one consultation with a business librarian, meet at least once with a business advisor, and attend the four (4) virtual training workshops.

Not meeting any of these criteria will result in the disqualification of your application.

Application Deadline and Review process

September 18, 2024: Business Plans must be uploaded to the competition site on/before 11:59 PM.

September: Round 1, Technical Review
October: Round 2, Judges Review | The panel of judges will review submitted business plans.
November: Finalists will be notified and required to present their plans to the panel of judges and respond to their questions. The exact date, time, and location of these meetings will be provided to the finalists
December: Winners will be announced at the Startup Awards Ceremony

Prizes

Here are the prizes to be won at Pitch Competitions NYC Startups 2024:

First Prize - $15,000
Second Prize - $10,000
Third Prize - $7,500
Access to Library resources and mentorship

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Judging Criteria

Here’s the judging criteria for Pitch Competitions NYC Startups 2024

Round 1: Technical Review

In this stage, your plan is assessed and rated based on its format rather than its content.
The following business plan template, adapted from Rhonda Abrams’ Successful Business Plan, should be used as the format for your Business Plan:

One-page Overview (PDF)
One-page Overview (Word)
Business Plan Template (PDF)
Business Plan Template (Word)

Business Plan Requirements

Pitch Competitions NYC Startups 2024

Your Business Plan, including the financials, must be submitted as a single PDF file. It should not exceed 20 one-sided pages, excluding financial statements, the cover page, and the table of contents.

Also, use Arial font, no smaller than 10pt, with one-inch margins.

Your Business Plan must include the following:

A one-page overview in the specified format
A cover page with the applicant’s name, street address, phone number, and email address of the individual entrant(s) and team leader
Team entries must list all team members, and the street address, phone number, and email address of one designated entrant
A table of contents
One-page executive summary
Page numbers throughout the business plan
Elements of a Business Plan template provided on this website

Financial projections should include a 3-year summary balance sheet, an income statement, and cash flow statements.

Additionally, the statements should include monthly income statements for the first two years, and a quarterly income statement for the third year.

Financials should also include a description of sources and uses of funds, break-even analysis, and notes to financials including financial assumptions.

Please note:

Points will be deducted if your plan exceeds 20 pages.
NYPL will not reimburse entrants for any expenses related to the preparation or assembly of your Business Plan.
Working models or prototypes will not be accepted.
The Business Plans will be destroyed shortly after the competition concludes.

To see the elements of the business plan for Pitch Competitions NYC Startups 2024, click here

Round 2: Judges’ Review

The judges will evaluate each Business Plan based on the following criteria:

Content of the plan, including the thoroughness and quality of the analysis
Effective use and impact of the prize money
Effective use of business information and research
Clear communication
The probability of a successful launch
Community impact and job creation potential
Quality and effectiveness of the final presentation (if the applicant becomes a finalist and is invited to present)

The Business Center will publicize the names and affiliations of all judges participating in the New York StartUP! 2024 Business Plan Competition (Pitch Competitions NYC Startups 2024).

Judges will be asked to recuse themselves from judging a plan if they have a conflict of interest, such as a pre-existing family or business relationship with an entrant.

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Round 3: Finalist Presentations

In November 2024, finalists will be notified and required to present their plans to the panel of judges and respond to their questions. The exact date, time, and location of these meetings will be provided to the finalists.

Summary

You can visit the competition website to get more information on Pitch Competitions NYC Startups 2024- New York StartUP! 2024 Business Plan Competition.

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Goodluck!