Eligibility
The Charlotte Venture Challenge is open to ventures headquartered in North Carolina, South Carolina, Tennessee, Virginia, Georgia, and Washington, DC and to students enrolled in accredited universities, colleges and community colleges in the same geographical area. Companies should have a scalable business concept with high growth potential. Companies must be early-stage defined as:
- Less than $350,000 investment not including sweat equity
– Less than $350,000 cumulative revenue excluding research grants.*
*There are certain companies that may fall into a gray area such as consulting companies transitioning to a new product or service which may be exempted. The CVC Organizing Committee will review eligibility and make a final decision on the team.
Ineligible Companies
Companies that were grand prize or category winners in a prior CVC/Five Ventures competition are not eligible, except winners in the Student category may compete in a non-Student category. Individuals who have been part of a winning company may participate in a new company. Non-profit companies are also ineligible to compete in the competition. We encourage Charlotte based non-profits to apply to SEED20.
Category Eligibility
The competition will consist of six distinct categories: 1.) New Energy and High Technology; 2.) IT and Informatics; 3.)Life Sciences & Biotechnology; 4.)Consumer Products and Services; 5.) Undergrad Student Ventures (All Students must be undergraduate.) and 6.) Graduate Student Ventures.
- For-Profit social enterprises are eligible and are encouraged to apply to the appropriate category above.
- The Charlotte Venture Challenge Organizing Committee reserves the right to re-classify the category of the team throughout the competition. We will notify you of our decision to re-classify you under a different category. Each team may enter one idea and cannot submit the idea to more than one category.
- Student teams are defined as all managing principals of the company are students but they may have non-student advisors, directors and employees. Each student may only present one idea and serve on one team.
Category Descriptions:
- New Energy and High Technology – Description: Advanced, clean and sustainable energy and other high tech companies including materials sciences, aerospace, etc.
- IT and Informatics – Description: Computer software, information systems, computer hardware, SAAS, Web applications and informatics.
- Life Sciences & Biotechnology – Description: Pharmaceuticals, biomedical technologies, life systems technologies, biotechnology, biomedical devices and other similar fields.
- Consumer Products and Services – Description: Innovative consumer products and services including inventions, unique retail models, specialty consumer services and other similar companies.
- Student Businesses – Description: Early-stage undergrad and grad student companies.
