1. What criteria will judges use to score my application?
Judges will look over and score each application based on the following criteria:
The overall strength of team
Team’s knowledge of market
A rating of the viability of the product/idea/technology
The product relative to the target market
Revenue and financing plans
Overall assessment of the opportunity
2. When can I enter?
Round 1 is open from March 25, 2015 until June 24, 2015
3. Why should I enter 43North?
43North offers an opportunity to dramatically accelerate
your business. 43North will award a total of $5Million dollars in cash. Winners
will also receive access to key resources, mentors and free incubator space.
4. How do I enter?
to apply for the 2015 competition.
5. What are the eligibility requirements for entry?
43North is open to applicants ages 18 and older from
anywhere in the world, in any industry, with the exception of retail and
hospitality. We are looking for business
ideas that are scalable and have the potential for aggressive growth.
6. What information will I need to provide in the first round application?
To complete our first round application, please go here.
In it, we ask for the following information:
· Your contact information
What is your product/idea/technology? (1,000 characters or less)
What problem is your product/idea seeking to solve? (750 characters or
· How does your
product/idea solve this problem? (750 characters or less)
List any intellectual property you have and its status (e.g., Patent
number, application number, licensor etc.)
(500 characters or less)
Describe the market (competition, size, potential). (750 characters
What are the unique aspects of your product or service that provide
you with a sustainable competitive
advantage? (750 characters or less)
Describe your team and/or advisors and their qualifications, background
and experience (1000 characters or
How much capital will you need and how will you use it? (500
characters or less)
How do you plan to generate revenue and when? (750 characters or less)
7. How many rounds of judging are there?
There are 3 rounds of judging: Executive summary, business
plan/video pitch, in-person finals.
8. When will I be notified if my business idea has made it to the semifinal round?
43North will notify semifinalists July 24, 2015. They will
then be asked to complete a second round application and pitch their idea via a
live video conference with a team of judges.
9. Does 43North take equity in my startup if I am one of the winners?
Yes, each of the winners agree to provide 43North with 5%
non-dilutive equity in their company, regardless of the award amount they
10. Does my startup need to relocate to Buffalo, New York if I win a prize?
Yes, all winners will be required to relocate to Buffalo,
New York for a minimum of one year. In addition to cash prizes, 43North winners
receive free incubator space in Buffalo, New York for a year, mentorship from
experts related to their fields and access to other exciting incentive
programs. Please see our terms and conditions for more information.