In addition to the opportunity to compete for prizes, the UCI Clean Tech Academy offers participants valuable business development resources during the mentorship program and access to a broader funding network.
The $50,000 prize money will be awarded to winners of the Clean Tech Academy business plan competition. A portion of the prize may constitute a UCI research grant through the Environment Institute.
Calit2 TechPortal Award
The Calit2 TechPortal Award – providing six months of free tenancy – will be given to the winning enterprise. The TechPortal, a business technology incubator in the Calit2 Building, serves as a gateway to commercial viability for UCI-based startup companies. TechPortal offers affordable space, access to facilities and services, and mentoring, programs and expertise to help new companies gain traction in the marketplace.
During the mentorship program, the semi-finalists selected for participation (up to six enterprises) will each be matched with an angel investor. Each team (selected participant and assigned mentor) will develop a business plan and future strategy for their product. Specifically, the teams will develop an understanding of their target customers, develop a positioning strategy for their product/service, forecast needed financial resources, and plan for their future development strategy. At the conclusion of the mentorship program, each team will have created a detailed business plan and sales presentation. Applicants with an early-stage product or service may be eligible to participate in the K5 Launch program, designed specifically to develop a minimal viable product, and to perform market validation.
Access to Investor Network
In the business plan competition, the teams will present their business plans to an audience that includes active members of the Tech Coast Angels network and OCTANe. Tech Coast Angels includes over 250 members in five chapters (San Diego, Orange County, Los Angeles, Inland Empire, and Westlake/Santa Barbara) and have funded over 170 startups. OCTANe includes more than 2,000 Orange County business leaders among its members. Teams may have the opportunity for subsequent presentations to investors.
Participation in the Business Plan Competition at The Paul Merage School of Business
One winner may be invited to enter the 2012 Business Plan Competition at The Paul Merage School of Business. In order to be selected for participation, the winner must meet all entrance requirements for that competition. The Business Plan Competition at The Merage School of Business is one of the nation’s premier business plan competitions offering all UC Irvine students, staff and researchers the opportunity to form a team, create a business plan and potentially fund their business. The Competition offers workshops covering a broad area of business plan development skills led by leading practitioners from Orange County. The Competition also provides individual team coaches to all teams that qualify for the semi-finals.