Abrams Sustainable Business Challenge

Application is open for the Abrams Sustainable Business Challenge. The Abrams Sustainable Business Challenge (the “Challenge”) will simulate a real-life entrepreneurial process to pitch a sustainable product or venture. A panel of judges will evaluate each business idea using a specific set of criteria (the “Judging Criteria”).

Eligibility

Value Creation: The value created by the proposed venture.

• The venture seeks to address a significant and critical environmental issue.
• How the proposed venture would benefit the environment, community, and stakeholders is clearly defined.
Environmental Impact: The positive impact the venture will bring to the environment and society.
• Possible metrics to measure the venture’s environmental impact have been identified.
• The proposed venture demonstrates the potential for quantifiable reduction in waste, GHG, resource consumption, or another environmental impact upon analysis.
Innovation: The venture shows an innovative approach to solving an existing problem.
• The proposed venture appears to approach an environmental issue in an innovative, original, creative and
comprehensive way.
Venture Viability: A demonstration that the business idea is viable and implementable.
• The team’s research demonstrates that the proposed venture has a truly unique position in the market.
• The venture model appears sustainable, and the idea is worth prototyping and testing.
• The venture appears to be scalable, and what scale will be necessary to sustain the model is understood by the team.
• The target customer is well-defined.
Financial Ask and Forecast: Long-term prospects for viability and success.
• The venture includes adequate proposed strategies for revenue generation.
• The types and amount of capital required to further develop the venture idea are presented clearly.
• The team demonstrates a clear understanding of the proposed venture’s profit model.

ADDITIONAL JUDGING CRITERIA (PITCH COMPETITION):
Team Assessment: An assessment of the entrepreneur(s) and team.
• Necessary venture leadership roles (short-and long-term) are well-defined.
• Relevant mentors are identified to supplement the team’s expertise and support the venture.
Operations: How will the product or service be produced and distributed?
• The team has adequately explored production/distribution models for the venture idea.
• A high-level life-cycle analysis has been conducted to measure environmental/social impacts along stages of
development.
• The team has identified the resources needed to prototype and test their idea further.
• The team has identified potential risks (short-and long-term) and strategies to mitigate risk.
Presentation: The quality and effectiveness of the pitch.
• The presentation was engaging and compelling.
• Details were well presented and clear.
• Presentation was given with confidence.
• Visuals were clear and helpful.

Also Read, Risk Management for Business

Benefits

The Challenge will include the following components:

• Video Pitch: Each team will submit a 3-minute video pitch with a clear explanation of the business concept and value proposition.
• Executive Summary: Each team will present an executive summary that judges will review using the judging criteria to understand the venture and identify its value proposition and feasibility.
• Pitch Competition: Each team will give a 10-minute presentation followed by a 10-minute Q&A session with the panel of judges. Judges will assess presentations based on the business concept, its’ quantifiable potential for having a positive impact on the environment, as well as presentation delivery.

Teams will submit their video pitch and executive summary in round one of the competitions on February 27, 2023. Finalists will join the live pitch competition and deliver the presentation on April 21, 2023.

Application Process

Click here to apply for Abrams Sustainable Business Challenge

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