Eligibility and Guidelines
The following guidelines are applicable for the graduate, undergraduate and alumni B.E.T.A. (Babson Entrepreneurial Thought & Action®) Challenge.
The B.E.T.A. Challenge focuses on action: the major milestones each business has achieved to date and the credibility of future goals.
- The following individuals are eligible to apply for the 2020 competitions:
- All Babson students that were enrolled fall 2019 or spring 2020.
- Any alumni with an undergraduate and/or graduate degree from Babson.
- Olin College of Engineering or Wellesley College venture that is in the John E. and Alice L. Butler Launch Pad and has submitted a participation agreement.
- All applications must be for a seed or an early-stage startup. This is defined as having less than $1 million in revenue and less than $500,000 in investment.
- All student applicants who will be competing in the B.E.T.A. Challenge must be in good standing with Babson College and the community. The Blank Center staff reserves the right to request information from the Office of Community Standards to confirm that this is the case and may disqualify any applicant who does not meet this requirement.
- Babson alumni who have volunteered or intend to volunteer as a 2020 B.E.T.A. Challenge evaluator are not eligible to apply to the B.E.T.A. Challenge.
- All past B.E.T.A. Challenge finalists, Douglass Foundation Graduate Business Plan winners and John H. Muller Jr. Undergraduate Business Plan winners are not eligible to apply to the 2020 competitions. Those that are applying with a different venture may be eligible. Please email Antonette Ho for more information.
- Individual students/alumni or groups are eligible to submit their application to the B.E.T.A. Challenge. The lead entrepreneur of any group must be a current Babson student, Babson alumni, or an Olin/Wellesley venture that is in the John E. and Alice L. Butler Launch Pad. If a group is comprised of both alumni and students, the status of the lead entrepreneur determines which challenge the group can apply for. A lead entrepreneur is defined as someone who is part of the founding team and/or holds an executive position in the startup. A lead entrepreneur is not an employee, contractor, and/or intern in the startup.
- Student applicants must have a faculty sponsor in order to participate. All student applicants must find a faculty member willing to sponsor them. Butler Launch Pad faculty advisors can be considered as a faculty sponsor. The faculty sponsor must be willing to review and provide input on the submission and agree to sponsor the submission. The faculty sponsor submitted will be verified for accuracy. Staff members, unless teaching a course at Babson, are not considered faculty. A faculty sponsor is optional for alumni applicants, but not required.
- Students/alumni submitting an application must commit to present their business in person during the semifinalist round (Venture Expo) on Wednesday, April 1, 2020, and the final competition on Thursday, April 16, 2020, if chosen.
- The application requires the following:
- Faculty sponsor (if applicable)
- Executive Summary—two-page limit in .doc, .docx or .pdf format. Samples are available at the Blank Center for viewing. Please contact Antonette Ho for more information.
- Slide deck—maximum 10 slides in .pptx, .ppt or .pdf format. The 10-slide limit includes cover slide. The slide deck must cover the following:
- Description of venture
- Industry represented
- Target market, include market analysis
- Value proposition
- Backgrounds/roles of team member(s)
- Milestones completed to date (i.e. completed feasibility study, created website, etc.)
- Timeline of future goals.
- Overall potential of opportunity (i.e. has economic and/or social growth potential, can be self-sustainable in current market, can generate revenues from potential/existing customers, etc.)