What Is Venture Cup?
Venture Cup is a business idea competition for students, graduates and faculty at Danish universities. Participants submit their ideas and plans to an independent jury, who determines which teams have the most promising new business venture. In addition to receiving valuable feedback and connection to the expansive Venture Cup professional network, winners also receive cash prizes to help fund their startup. The competition runs during the academic year, and participants are free to use resources such as workshops, seminars, and advisors in their quest for the best idea and business plan.
What Is The Goal Of Venture Cup?
The goal of Venture Cup is to get as many students as possible to consider opportunities in entrepreneurship, and to help create successful high-growth startup companies in Denmark. Venture Cup aims to promote radical innovation as well as careers in entrepreneurship.
What Happens Throughout The Year?
Throughout the year we have the two main competitions. The Idea Competition runs in the fall and the Startup Competition run in the spring. We also facilitate ongoing events, workshops and networking opportunities. To get the latest updates check out the blog or signup for our newsletter. You can also connect with Venture Cup on Facebook, Twitter, and LinkedIn.
Why Should I Participate?
You have everything to win and nothing to lose. Venture Cup is a platform where all participants get a unique opportunity to test their knowledge and talent in terms of teamwork, innovation, and entrepreneurship. Get involved with our network, meet advisors, test your idea, get business experience, and win cash funding. For the past 12 years, we have helped more than +200 teams start up a business. Venture Cup is here to help you succeed.
Am I Allowed To Participate?
You may enter the competition if at least one person on your team is enrolled at or a member of a higher educational institution in Denmark (including current students, faculty members, or first-year graduates). Furthermore, at least one team member must be a permanent resident of Denmark, which includes residents on student visas. For a full overview, please view our competition rules.
Can I Enter The Competition If I Participated Last Year?
You are allowed to participate in the same competition a following year, IF you have developed your business considerably since you last participated,
However:
If you have WON a category in Idea Competition, you can participate in the following Startup Competition, but you CAN’T participate with the same concept again in any following Idea Competition, regardless of whether or not you have developed your idea further since you last participated
If If you have WON a category in Startup Competition you CAN’T participate in any Venture Cup competition with the same concept, regardless of whether or not you have developed your startup further since you last participated
Your startup can only be awarded the Venture Cup Booster Pack once.
We Have Already Founded The Company. Can We Still Participate?
Yes, but only if you have not exceeded the limit of received funding. See our rules (§4).
When & How Do I Enter A Competition?
In the fall, enter the Idea Competition with a 3-page description of your idea. The larger Startup Competition occurs in spring and requires a 15-page business plan. You must submit your entry to the Venture Cup online competition management system before the stated deadline. Once you have written your idea/business plan and are ready to upload, please go to either the Idea Competition or Startup Competition page and follow the instructions.
How Do I Stay Informed During The Competition?
Read our blog for the latest news regarding the competitions. Sign up for our newsletter, which provides insider tips, event info, and updates from our alumni. You can also find us on Facebook, Twitter, and LinkedIn. Of course, you are always welcome to contact us directly or drop by our offices for a chat.
Should I Write In English Or Danish?
You are free to write in either English or Danish. However, we strongly recommend writing your business plan in English. This will make it easier to get advice and assistance from international experts, business people, and investors. If you make it to a Venture Cup competition final, you will have to present in English since we have an international jury panel.
How Much Are The Prizes Worth And Are They Exempt From Tax?
The Idea Competition awards a cash prize of 25.000 DKK per category. The Startup Competition awards 50.000 DKK per category, and an additional 200.000 DKK for the overall most promising startup idea of the year. The cash prizes will be transferred to your CVR number. If you do not have a CVR number yet, Venture Cup will assist you with the application process. It is the winners’ sole responsibility to ensure correct taxation of their prizes.
What Are The Benefits If I Do Not Win?
You will acquire important knowledge about how to write a business plan and start a company. You will meet the right people who can help you and form a strong network. You will receive vital feedback on your business idea. You will meet other aspiring entrepreneurs and become a member of the exclusive Venture Cup Alumni Club. In all, Venture Cup will help foster your idea, so that you can start your venture even if you did not win a competition.
I Have More Than One Idea, What Should I Do?
Entrepreneurs are typically idea people, so we encourage multiple submissions. You can submit more than one idea during a single competition. Submitting many ideas can help you choose which one to move forward, as each submitted idea will receive feedback from several highly qualified people on the Venture Cup Jury.
Is The Competition Only For High-Tech Ideas?
All ideas are welcome, but please note that growth potential is a key criterion for winning. There are five categories to apply in. Participating in Venture Cup can be very rewarding if you are thinking about starting a new business regardless of the field, as you can establish a strong network and receive vital feedback.
How Do I Protect My Idea?
Members of the jury, advisors, and Venture Cup staff have all signed a Non-Disclosure Agreement (NDA). If you are very worried about your idea being stolen, then use general terms and avoid discussing the specific technical parts that can be patented. Consider how much can be told without revealing the secret part, while still being able to convince others that your idea is good.
Confidentiality aside, we warmly encourage our participants to talk about their ideas and projects and share as much as they are comfortable with. Being open about your idea is key to success, as feedback from outsiders will help shape your idea, predict problems, and point to weaknesses and opportunities.
Must I Be Part Of A Team To Enter?
No, you can enter the competition as an individual. However, a team including others with complimentary skills often improves the likelihood of success, and is heavily considered by the competition jury and potential external business partners. If you plan to find other team members, remember to write it in your Business Plan.
How Do I Find People To Join My Team?
If you have a great idea, and are looking for people to join your team, the best way to meet them is by attending one of our events. You will meet people with different backgrounds and different skills, who also share an entrepreneurial mindset. You are also welcome to post recruitment notices on our facebook wall or via linkedin.
How Do I Find A Team To Join?
If you are curious about starting your own business or want to get involved with a startup, you should come to one of our events and talk to others who are looking for someone with your skills. These events are the best places to meet likeminded people to collaborate with.
How Do I Find People To Join My Team?
If you have a great idea, but are looking for people to join your team, the best way to meet them is by showing up at one of our events. Typically you will meet people with different backgrounds and different skills. Our experience tells us that these events are the best places to meet likeminded people to startup with. You are also welcome to post recruitments for your startup on our facebook wall or via linkedin.
