Scheinfeld New Venture Challenge: FAQs

What is the Scheinfeld Center New Venture Challenge?

It is a business plan and pitch competition open to students in Santa Barbara County enrolled in Santa Barbara City College and other local colleges and universities, and to high school students participating in a qualified entrepreneurship program or Virtual Enterprise program run by the Santa Barbara County Educational Office Regional Occupational Program (ROP) and/or other organizations.

What do I need to do to participate?

You will need to complete the Registration Form (under the "Submit" tab) and complete it, obtain the necessary signatures, scan it, and submit the Registration form electronically with all required attachments, including a completed Business Plan for your business or concept within the stated deadlines and according to the Official Rules. Please review Important Dates in the column to the right for important deadlines.

How do I submit the forms and attachments electronically?

All forms and attachments must be scanned and submitted by emailing them to scheinfeldnvc@gmail.com. You will be notified of your registration status within 72 hours of submission. If you submit your registration more than 72 hours prior to the deadline, you may have an opportunity to correct omissions so that your registration will not be disqualified. Early submissions are therefore encouraged.

Does the competition cost me anything?

There are no fees to participate in the competition.

How is the award fund distributed?

Winners are announced at the actual competition event: the New Venture Challenge. Awards are distributed at our premier supporter Spirit of Entrepreneurship Foundation Banquet. Please see "Banquet" tab for more information. Awards are based on current funds raised. Exact award amounts will be announced once week prior to the NVC Event. Here are examples of prior year awards:

High School Winners:

$5,000 is dedicated to SBCC scholarships, divided among eligible high school winners that enroll in SBCC. The scholarship funds are awarded based on being a designated winner, and are treated as any other SBCC scholarship administratively.
$2,000 is awarded as follows:

$1,000 First Place
$600 Second Place
$400 Third Place

We ask that your advisor and your team report back on the use of the cash and how it benefited your business or program.

Collegiate Winners

$5,500 First place
$3,000 Second Place
$2,000 Third Place

These funds are awarded as a "grant" with reporting requirements. Each winner will become a Small Business Development Center (SBDC) client (free counseling and mentorship) and with the help of an SBDC counselor, report back within 4 months on how the funds were spent and the results of the use of the funds.

How do I get chosen as a finalist?

Once you have properly registered and submitted your business plan, your submission will be reviewed by a panel of readers. Our readers determine the best submissions for presentation at the competition. If you are selected as a finalist (up to 10 in each Tier), you will have to submit a set of power point slides. Please check the Calendar Tab for this deadline.

If I am a finalist, how do I prepare for the presentation at the New Venture Challenge?

There are specific rules for your presentation. For example, you have to make your presentation in 8 minutes. You will have prepared the required power point slides to use during your presentation. Please read the Official Rules for specific requirements.

As a finalist, what can I expect at the New Venture Challenge?

You will be assigned a window of time for your presentation. There will be a panel of judges watching your presentation. You will be on a stage with a projector for your slides. We will have the slides you submitted ready for your presentation. You will have 8 minutes to complete your "pitch" in front of the judges and audience members. Judges will have 2 minutes for follow up questions. Winners will be announced after all the presentations in your tier.