Q&A Pool

What is CMU Summit New Venture Competition?
What are we looking for?
Who are eligible?
What are the benefits of joining the contest?
How do I participate in the CMU Summit New Venture Competition?
Is it required to submit the executive summary in both Chinese and English?
What are the judging criteria?
Are there any training opportunities?
If I have different projects, how can I register?
Is it possible to upload a new executive summary and business plan after the first submission?
When and how are finalists announced?
Can I register for the contest if I am international?
What I should do if I could not attend contest onsite?
How do I get more information on CMU Summit New Venture Competition?
Who are the judges?
How can I contact the organizers?
Will you cover my traveling cost?
Can I talk to the VCs and other teams during the competition?
Does my project have to be related to Chinese market?
How many teams will be chosen for final pitch?
What if I have a time conflict for the final pitch?
What time is the deadline?
Should I still buy the ticket to join the summit if I join the contest?

 

What is CMU Summit New Venture Competition?
CMU Summit New Venture Competition is a student entrepreneurship competition organized by CMU Summit, which aims to build a communication platform for ambitious Chinese and American students. It also strives to bridge the gap between the resources that entrepreneurs need and the ability of the entrepreneurial ecosystem in place to provide them. If you have great ideas and want to make it happen, CMU Summit New Venture Competition is your best choice!

What are we looking for?
We are looking for new business models and technologies which have potential to be applied to US and China’s market. Technology holders are encouraged to apply for the Business Plan Contest.

Who are eligible?
Open to all part-time and full-time students and young startups. If you have brilliant ideas, whether you have ongoing project or already launched company, whether your industry is Information Technology, Clean Energy, Medical, Biology, new business model, social entrepreneurship, or others, you are more than welcome to join us!

What are the benefits of joining the contest?
Besides cash rewards, winners of the contest will have good chances to receive angel funding after discussing their business plans with China Venture Capitalists and Angel Investors. Although we cannot foresee how many successful investments will be made through this contest, we will ensure it to be a fulfilling and instructive process for the participants. Finalists of the Entrepreneurship Contests will receive mentors from experienced business practitioners. Finalists will be invited to a network session with our guest speakers and judges.

How do I participate in the CMU Summit New Venture Competition?
Please refer to the Participation Rule.

Is it required to submit the executive summary in both Chinese and English?
English is the official language of this competition. The executive summary and the presentation must be in English. You can add supplementary materials in Chinese.  

What are the judging criteria?
Judges will evaluate projects upon a number of criteria, including but not limited to feasibility, innovativeness, technology, US and China market focus and the teamwork.

Are there any training opportunities?
We will provide lectures of Entrepreneurship, Technology, Innovation, etc..

If I have different projects, how can I register?
In principle we recommend you submit one project under one registered account. If you do need to submit multiple projects, please contact the Competition Organizing Committee.

Is it possible to upload a new executive summary and business plan after the first submission?
You can re-submit the updated version.

When and how are finalists announced?
Please refer to the overview page. The Finalists will be notified through our website and by Email.

Can I register for the contest if I am international?
The first round of judging occurs online and can be completed remotely from anywhere in the world. The finale will require the contestants to be physically present on stage. You can ask your friend to do the presentation onsite.

What I should do if I could not attend contest onsite?
Please contact the Competition Organizing Committee as your earliest convenience.

How do I get more information on CMU Summit New Venture Competition?
Follow us on
Facebook: http://www.facebook.com/cmusummit
LinkedIn: http://www.linkedin.com/groups/CMU-Summit-4275100
Renren: http://page.renren.com/601202783
Weibo: http://www.weibo.com/cmusummit
If you have a specific request and/or question that isn’t addressed on our website or social networking sites, please send an email inquiry to: cmu.competition.2015 [at] gmail.com.

Who are the judges?
The judges will be famous VCs and Incubators from both China and U.S.. In the past, we invited VCs from Zhen Fund, SoftBank China, West Summit Capital, SBCVC, GSR Ventures, IDG Ventures as our judges.

How can I contact the organizers?
If you have further questions, please contact us through mail: cmu.competition.2015 [at] gmail.com.

Will you cover my traveling cost?
No. The CMU-Summit Competition doesn’t provide traveling cost reimbursement. You will get bonus if you are the top three.

Can I talk to the VCs and other teams during the competition?
Definitely yes. We will hold a showcase and networking session to enhance the communication between teams and VCs.

Does my project have to be related to Chinese market?
No. Projects targeting any markets are welcome.

How many teams will be chosen for final pitch?
It depends on the quality of the teams participated. Last year is 10 teams.

What if I have a time conflict for the final pitch?
Please contact the Competition Organizing Committee as your earliest convenience.

What time is the deadline?
The deadline for the first round is Apr 5th, 11:59PM, EDT

Should I still buy the ticket to join the summit if I join the contest?
The competition is one of the many programs in the summit; to attend other programs you will need to purchase a ticket. A good news is that we just launched ticket selling today; you and your friends can order at a discounted price by visiting
http://cmusummit2015.eventbrite.com/