Please read carefully before participating:

Winners of the (2005 -2009) Business PLAN Competition are not eligible to participate in the 2010 Business Idea (Phase I) or Business Plan Competitions (Phase II). EnterPRize defines winners as those individuals that were part of a team that received any of the grand cash ($25k, $15k, $10k) and/or in-kind prized offered in the Phase II of the Competition ("Winners"). All other previous participants are welcomed to re-submit their business ideas, hopefully after a thorough review and improvement.

Individual or teams with a new business idea or very early stage ventures

Any person or team that wants to develop a high potential business idea, or has already taken the very first steps, can participate in the Business Idea Competition.  Although all business ideas submitted will be reviewed and evaluated, the EnterPRize organizers strongly encourage participants to develop ideas and plans thinking high growth and global from the start.

By high growth and global we mean businesses that are expected to grow in excess of 25% per year for the first 5 years and that the product or service be developed with a global market perspective from the start.  A global market perspective means that the business idea incorporates a global business model or opportunity applied to the local market or a business where the market may initially be Puerto Rico, but the product or service is global in scope and is scalable for delivery outside of Puerto Rico in the medium term.

Each team must include at least one member, or 50% of its ownership, from someone who resides, works or attends school in Puerto Rico.

Individual Entrepreneurs

If you reside, work or attend school in Puerto Rico, you may participate directly or join another team in developing their business idea or business plan.

Existing Businesses

The competition is also open to very early stage entrepreneurs that comply with the following guidelines:

• Company must be based in Puerto Rico
• No subsidiaries allowed
• Less than $250,000 in cumulative revenues (excluding grants) since inception as of  the moment of submission
• Less than $100,000 in debt or equity received from third parties (including friends and family) as of the moment of submission
• No institutional investors

Other requirements

Teams or an individual may submit as many business ideas for the Business Idea Competition as they have developed and are ready to present.  Submission by a team, a member of a team or an individual is limited to one plan for the Business Plan Competition.  The business idea or plan must be an original work of the submitting team. No restriction exists for number of members within one team, although historically teams of 3-6 members have performed above-par in similar competitions.