Canyon Challenge / Shark Tank / Market Place
IDEA is a student based club organization dedicated to assist all GCU students, faculty and staff both on campus and online in the creation, evaluation and implementation of ideas that provide value to others. .
The Shark Tank and Market Place are open to all candidates for submission. Every Monday is a virtual Shark Tank at 2:30pm: https://gcu.zoom.us/j/96438207860
The Lean Canvas Outline for the Canyon Challenge 2020/21
The following are 10 points that will be used as the basis to evaluate each pitch. Candidates for the final 5 will be selected based on the quality of their business opportunity as demonstrated through participation in the Shark Tank, IDEA Trade Shows and other Business Competitions.
1) Value Propositions: How do you specifically add value to your customers? (You can't just say we offer higher customer service, what are the specific features that make what you do unique.)
2) Customer Segments: Who is your customer? (Specifically describe the grouping of your customers into shared behaviors that can be marketed to)
3) Channels: How is your product delivered to your customer? (retail, web based, door to door, mobile app, etc.. describe how each channel works for your business.
4) Customer Relationships: How do you specifically maintain the relationship with your customer? Is there a repeat transaction or an ongoing service
5) Key Partners: Who do you need to buy things from or market with or actually partner with to provide to offer what you are offering?
6) Key Activities: What key activities do our value propositions require? (Are you assembling a product, designing one, selling existing products, entertaining, organizing information, analyzing information, etc….)
7) Key Resources: What are the inputs you need? (Space, certain technologies, what kind of skilled workers do you need, etc..)
8) Revenue Streams: How much are your customers willing to pay and what proof to you have?
9) Cost Structure: What are the fixed costs and what are the variable costs? Do you need capital? How much? What is your breakeven point?
10) The overall presentation of and the clarity with which it conveys the business opportunity.
Faculty Sponsor: Assistant Professor Tim Kelley - KBCOB Office , (602)-639-7721 firstname.lastname@example.org
Mr. Kelley is an experienced Entrepreneur having developed several multimillion dollar companies. In January 2008 he was featured in Entrepreneur Magazine for Innovative International Entrepreneurship. He is currently an Angel Investor and Founder and Chair of Canyon Angels.
- Teams requiring non-disclosure agreements (NDAs) should not participate.
- All sessions of the competition are open to the public and may be broadcast to interested persons through media which may include radio, television and the Internet.
- Any data or information discussed or divulged throughout the competition should be considered information that will enter the public domain.
- The competition and the organizer of the competition may make photocopies, photographs, video recordings and/or audio recordings of the presentations including the business plan and other documents, charts, media or other material prepared for use in presentation.
- GCU may use the materials in any book or other printed materials and any videotape or other medium that they may produce, provided that any profits earned from the sale of such items is used by these entities solely to defray the costs of future competitions. GCU has non-exclusive world rights in all languages, and in all media, to use or to publish the materials in any book, other printed materials, videotapes or other medium, and to use the materials in future editions thereof and derivative products.