Congratulations, Devon Bernard of EcoValve for winning the 2014 NH Startup Challenge.
EcoValve is a shower head attachment that reduces the average household’s water consumption by utilizing ultra-sonic sensors to detect the distance between the person showering and the nozzle and adjusting the water pressure automatically. To read the interview with Devon, click here.
What is the MYPN NH Start Up Challenge?
- The NH Start Up Challenge is a statewide business plan competition created in 2008 by MYPN, New Hampshire’s first and largest young professional networking organization. Over the past five years, $210,000 in cash and in-kind services has been awarded to New Hampshire startups.
When does the MYPN NH Start Up Challenge happen?
- The NH Start Up Challenge typically runs from March through June of each year, with a series of events narrowing down the finalists. MYPN will announce details through this website, social media channels and our newsletter.
- The MYPN NH Start Up Challenge is open to any granite state resident with an idea.
- Applicants must be a New Hampshire resident and an owner or founder of a business.
- Startup’s must be for-profit, have been in existence for less than three years, have raised under $100,000 in funding and generated under $100,000 in 2013 revenue.
What will I win?
The 2012 winner, Gear Freedom, walked away with the following prize package:
- Up to $20,000 in cash
- Ultimate experience at a music and tech event in Austin Texas (organizers asked us not to mention it by name – can you believe that?) courtesy of Dyn consisting of airfare, three days and two nights’ accommodations, two-day pass to an Interactive event located in Austin, and a VIP pass to the Dyn Music Meets Tech Party. Can you guess the event?
- Seat in the abi Innovation Hub’s Accelerator Program and one-year residence at the abi.
- Legal services from McLane Law Firm
- Accounting services from Howe Riley & Howe
How do I enter and what is required?
- Email a minimum one to two page summary of a business plan or idea to [email protected] in order to qualify.
- If you’ve already developed a business plan and have facts, figures, etc send them along. The more information the better.
- If you want, send a link to a video pitch as well. You don’t have to but it would be a lot cooler if you did.
How will I be judged?
You will be judged on the following criteria:
- Market Opportunity – is there a clear market need presented and way to take advantage of it?
- Distinctive Competence – company provides some novel/unique/special that gives it a competitive advantage in its market
- Management capability – team can effectively develop the company and handle the risks associated with the venture
- Financial understanding – team has a solid understanding of financial requirements of the business
- Investment potential – business represents a real investment opportunity in which you would consider investing
- Pitch – pitch performance
*MYPN and the NH Startup Challenge committee reserves the right to disqualify anyone at any time for any reason.
Want to see more? Check out MYPN’s photos and videos from the 2013 Challenge!