Form a team of 2-8 people to apply and submit a business plan. Please refer to Example 1  or Example 2.

The Requirements of Business Proposal:

• • The cover should include your team name, logo, team members’ names, school name, and the supervising teacher’s name if any.
  • Business idea: How did you come up with your business idea? Why do you want to create this product or service?
  • Description of an existing business pain point that you want to solve or a business opportunity you have identified.
  • Introduction of the product or service you have designed.
  • Description of your target customers: Who are they? What are the main customer segments that need your product or service the most?
  • Business value proposition.

• Finalists will be determined and announced. Depending on the number of teams participating, you might also be waitlisted.

• The orientation will cover the details and rules of the Final Round.
• Orientation materials will be available to download on your MEC Dashboard after the orientation.

• The requirements of the business proposal for the Final Round are as follows. You can also refer to Example 1 or Example 2:
• • The cover should include your team name, project name, logo, team members’ names, school name, and the supervising teacher’s name if any.
  • Business Idea: How did you come up with your business idea? Why do you want to create this product or service?
  • Introduction of the product or service you have designed.
  • Customer analysis
  • Business value proposition
  • SWOT analysis
  • Competitor analysis
  • Simplified financial calculation for the next 3 years: Please at least include sales forecast, various expenses, breakeven, and the amount you require to launch your business.
  • Introduction of your team members and their roles.
  • Realistic next step.
• The final business proposal (no more than 25MB in PDF file) and 2 videos (in MP4 files) should be uploaded to your Final Round Dashboard by June 13th, 2024, 23:59 (PTD GMT-7).
  Please follow the naming convention for the business proposal, promotional video, and the roadshow video:

TEAM NAME_Business Proposal
TEAM NAME_Promotional Video
TEAM NAME_Roadshow Video

• After your Final Round submission, your team will receive a short video feedback from MEC judges.

• Video #1 (Promotional Video): Each team will be required to shoot a promotional video explaining your business ideas and/or product services. The video will be no more than 1 minute and 15 seconds, and no more than 100MB in file size. There is no limitation on the form and style of the short video, but the video content must comply with relevant international video and advertising laws and regulations. Racial discrimination, pornographic violence, and excessively exaggerated, vulgar, and false advertising content must not appear in the video. Examples
• Video #2 (Roadshow Video): Each team will need to prepare a roadshow video that lasts no more than 3 minutes and 15 seconds, and no more than 300MB in file size. Example
  The video will cover the following seven items:

1. Describe the current problem or opportunity.
2. Customer archetypes. Who are your customers? What type of customers would find your product or service most useful?
3. What is your business model? How will you make a profit?
4. Competitor analysis.
5. Simplified financial calculation for the next three years (you should at least include sales forecast, various expenses, breakeven, and the amount you require to launch your business).
6. Who are your team members? What are their roles?
7. What’s your realistic next step?

• The final business proposal (no more than 25MB in PDF file) and 2 videos (in MP4 files) should be uploaded to your Final Round Dashboard by June 13th, 2024, 23:59 (PDT GMT-7).
  Please follow the naming convention for the business proposal, promotional video, and the roadshow video:

TEAM NAME_Business Proposal
TEAM NAME_Promotional Video
TEAM NAME_Roadshow Video

• Marketing is a critical skill for any successful entrepreneur. Let’s see how good you are!
• All videos will be made available for public access. Each team can then get friends and families to vote for them.
• The score of each team will be calculated based on the ranking of the voting results. Please refer to the scoring rubrics below.

Please pick one of the following sessions to join the competition rehearsal:

• July 22nd 18:00 (PDT GMT-7)
• July 23rd 20:00 (PDT GMT-7)
• July 24th 22:00 (PDT GMT-7)
• July 26th 00:00 (PDT GMT-7) 

Please use the following Zoom link to access the Rehearsal Lobby:

TBD

Meeting ID: TBD

Passcode: TBD

• You will be able to download the Final Round Brochure on your MEC Final Round Dashboard
• 2022 MEC Final Round Competition Recordings:
  • Example 1
  • Example 2
  • Example 3
• The Final Round will be evaluated in 4 parts: Promotional Video Voting, Promotional Video, Roadshow Video, and PRT and Judging Panel Q&A.
• Part 1 will take place online, Part 2 and Part 3 will be reviewed offline, and Part 4 will be reviewed by the Judging Panel online during the Final Round.
• Awards for the Final Round:
  • 1st Place: $13,000 ($3,000 start-up fund; $1,250 in scholarship for IEG programs per member; letter of recommendation from MEC Judge)
  • 2nd Place: $9,500 ($1,500 start-up fund; $1,000 in scholarship for IEG programs per member; letter of recommendation from MEC Judge)
  • 3rd Place: $7,800 ($1,000 start-up fund; $850 in scholarship for IEG programs per member; letter of recommendation from MEC Judge)
  • 4th Place: $6,400 ($50 Amazon gift cards and $750 in scholarship for IEG programs per member; letter of recommendation from MEC Judge)
  • 5th Place: $5,900+ ($40 Amazon gift cards and $700 in scholarship for IEG programs per member; letter of recommendation from MEC Judge)
  • 6th Place: $5,400+ ($30 Amazon gift cards and $650 in scholarship for IEG programs per member; letter of recommendation from MEC Judge)
  • Other team awards will be listed in the MEC Brochure.