Application Instructions

General Instructions

The deadline for submission is 5 p.m. Eastern time (U.S.) on March 29, 2021.

Completing the online application is the single most important step in applying to the competition. By completing this application, all applicants provide the same information to the judges, which allows them to fairly consider all applications.

Hint: It is easiest to complete the application based on your full plan. Therefore, it is best if you work on your full plan right now. If you complete the application first and then work on your full plan, your plan will likely evolve as you complete it and, unless you update your application, an application submitted before you have worked on your plan could be outdated. Also, applicants who are invited to submit their full plan will have only one week to submit that plan, which means it is best if your plan is essentially completed by the time you submit your application.

Remember

Guide to Completing the "Applicant Info" Section

Guide to Completing the "Business Plan" Section

Complete all fields marked by an asterisk (*). This is the most important part of your application, as it will tell judges about the business idea you are proposing. Hint: Think of the judges as investors, which is what they are since they will be awarding cash and in-kind services. Therefore, speak to them the way you would if trying to convince an investor to invest in your idea.

Save your work as you work on the application. This means you can return later and keep adding to your application or edit information you already entered. Once you submit your application, you cannot change it. Therefore, it is recommended that you submit your application close to the deadline. That way, you can keep working on it, which is especially useful if you are still working on your plan and you want to update your application based on the way your plan is developing.

Guide to Completing the "Funding" Section

Complete all fields marked by an asterisk (*).

Notes:

  1. This table does not have an asterisk (*), because it is recognized that, in some cases, not every cell can be completed. That is all right, but it is absolutely essential to complete most, if not all, of the table.
  2. Make sure that the numbers make sense. If Year 5 revenue is 50 times as large as Year 1, your explanation of the market and how you will generate revenues needs to support such rapid growth. Similarly, rapid revenue growth will likely incur significant expenses, and your description of operations should support this.

Save your work as you work on the application. This means you can return later and keep adding to your application or edit information you already entered.

Once you submit your application, you cannot change it. Therefore, it is recommended that you submit your application close to the deadline. That way, you can keep working on it, which is especially useful if you are still working on your plan and you want to update your application based on the way your plan is developing.

Guide to Completing the "Bios" Section

Submitting Your Application

After you hit the Submit button, you will be asked to signify your agreement with Rule No. 7: All semi-finalists must agree that, should they be chosen as a finalist or winner, they will use prize winnings to establish or continue operations that employ people in Rhode Island.