Do you have a BIG IDEA, product, service, or concept that will set the world on fire?
Everything begins with an idea. What’s your BIG I? READY, SET, GO!
About The Big Idea
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!
If you aspire to serve as a judge or mentor, kindly click the button below.
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!
- 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?
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?
Have More Questions? Contact Us!
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
Good Business Books
- 10 Steps to Your First Small Business
- First Break all the Rules by Curt Coffman and Marcus Buckingham
- The Lean Startupby Eric Ries
- Zero to One by Peter Thiel
- From Good to Great by Jim Collins
- The 7 Habits of Highly Effective People by Stephen Covey
- The Fifth Discipline by Peter Senge
- Who Moved My Cheese by Spencer Johnson
- Think and Grow Rich by Napolean Hill
- How to Win Friends and Influence People by Dale Carnegie
- Start with Why by Simon Sinek
- Why A Students Work for C Students by Robert Kiyosaki
- What They Don’t Teach you at Harvard Business School by Mark McCormack