The Big Idea SCV | BFF of CA

Do you have a BIG IDEA, product, service, or concept that will set the world on fire?

“The Big Idea SCV” event provides a unique opportunity for Santa Clarita students in High School and College (ages 18-25) to learn about entrepreneurship, and prepare to put their ideas into action. The Big Idea SCV Challenge focuses on unleashing creativity, encouraging a mindset of abundance and self-determination, and promoting purposeful entrepreneurial action.

Everything begins with an idea. What’s your BIG I? READY, SET, GO!

About The Big Idea

The competition which is a “3” part process will have “2” categories: High School 9-12 th grade and College students 18 – 25 with a business idea, concept or product. Students may participate as “individuals” or as a Team (up to 3 members) Participants who make it to the finals will then be invited to present and pitch their idea to 5 judges and to the community for the “audience choice award” for a chance to win cash prizes. Over $25,000 in total prizes will be awarded. Students that advance to the finals will present “ in an expo setting” to experienced entrepreneurs, business-people and our community.

Entrepreneurship is a cornerstone of what makes America great. Successful businesses are founded on interdisciplinary, communication, and critical thinking skills, many of which must be gained through experience. While raw knowledge can be obtained in the classroom, it can be difficult for a burgeoning young entrepreneur to experience the process of developing a business plan and executing it. That’s where entrepreneurship competitions can help play a huge role. These competitions give outlets to students who may have a great idea but lack the resources or mentorship for comprehensive follow-through.

With economists predicting the jobs of tomorrow don’t even exist today, entrepreneurial skills are skills for life. Don’t feel intimidated by the term “entrepreneurship”. Even if you don’t consider yourself an entrepreneur in its traditional sense (i.e., start a company), think of entrepreneurial mindset broadly. Are you willing to challenge yourself and step out of your comfort zone? How often do you take initiative? Are you attracted to new ideas or concepts? Does working with a group of high-achieving peers sound exciting to you? This entrepreneurship competition aims to equip students with core skill sets that are essential to college and career success, skills such as critical thinking, communication, teamwork, and time management.

Participating in this pitch competition is an investment for your future and decades to come. This competition will give you a platform where you can pitch your startup in front of community business leaders, an opportunity to showcase your idea and possibly win… We encourage every student to throw their hat in the ring and get some experience pitching their venture – you never know what you’ll end up walking away with!

Event Information

Part 1: Competition opens 12.1.23

The Initial Application is uploaded online prior to the deadline, midnight February 16, 2024, which includes:
A description of your business idea in fewer than 500 words (Template available for download)
An endorsement letter from any teacher/faculty member
Initial applications will be reviewed by members of the SCV business community and they will determine who moves on to semi finals.

Part 2: Semi Finals

Semi Finalists will prepare and submit no later than March 30th a more comprehensive business idea outline and are invited to attend an in person workshop on March 11 that will discuss; Business Basics, Branding/Marketing and Fiscal responsibility. (plus a few surprises)
At the March 11th workshop information will also be presented about what to expect if selected to the finals
Finalists will be selected based on the March 30th submission and will be announced on 4.8.24.

Part 3: Finals

Finalists will be contacted no later than 4.8.24
Finalists will be paired with a mentor to help them prepare for their final live presentation.
Location of Final Event LA North Studios
Final event , May 1, 2024 @ 4:00 PM (to be confirmed)
Winners announced at the Final Event!

Application Process

There is no fee to apply
** The BFF assumes no control or ownership of submittals
- Information in applications may be made public at any point during the competition and therefore is not protected, unless the applicant has their own patent, trademark or legal protection.
- ** No-one associated with the Baker Family Foundation will participate in any part of the judging process.

Big Idea FAQ’s

We’ve got the Answers

Who Can Apply?

High School students grades 9 – 12
College Students ages 18 – 25 yrs
Must be currently enrolled in school
Must be endorsed by a faculty member from the school where the student is enrolled
Individuals or up to a 3 person team
Cannot be an existing revenue generating business with sales over $5,000.00 a year.
Students enrolled in a Santa Clarita Valley School

Who Owns the Intellectual Property for these Ideas?

The Big Idea, and the BFF do not assume any control or ownership of the submitted business ideas.

Information in applications may be made public at any point during the competition and therefore is not protected, unless the applicant has their own patent, trademark or legal protection.

The Baker Family Foundation reserves the right to use photos from event for promotional use on SM platforms

How Are Winners Selected?

An independent panel of judges reviews all entries. The finalists will be invited to present their business idea in an expo style setting for the judges and the community. The judges will score all finalists based on their written submission, one on one interview at the expo and finalists display at the event to determine a 1st and 2nd place winner in each age category. There will only be one audience choice winner. The winner or team can be from either age group and will be determined by the public submitting a ballot entry the night of the event.

Things to think about when applying.

What problem does your product or service solve?
How do you propose making money?
Who are your customers and why will they buy your product or service?
Who is your competition and how are you going to be better than the competition?
What makes you stand out from the rest?
Is your idea innovative and unique?

What are the Prizes?

Over $25,000 worth of prizes will be awarded throughout the competition.

Have More Questions? Contact Us!

For any further questions or inquiries about The Big Idea SCV project, please contact: contact@bffofca.org

Resources

Business Planning Resources

Writing Your Business Plan(Small Business Association)
How to Write a Simple Business Plan(Smartsheet)
The Conrad Challenge – The Conrad Challenge is a global, purpose-driven innovation competition creating the next generation of entrepreneurs who will change the world
Student Resources Library
Startup Rocket
Ycombinator’s Startup Playbook(~15 min read)
Startup Framework(Ideate -> Validate -> Create -> Grow -> Fund)
Startup Resources