Wright Venture is an entrepreneurial opportunity modeled after Shark Tank, an ABC TV reality competition series that features aspiring entrepreneurs making business presentations to a panel of potential investors. Our goal is to create a real-life, lasting experience similar to an actual business startup, including networking, mentorship, creative idea development, product design, service creation, financial management, business planning, and marketing all offered free by Wright State faculty, staff, and local and regional sponsors.
Make it to the final competition for a chance to earn a $5,000 investment in your business.
2020 Deadlines and Important Dates
- First Draft Deadline: Friday, February 21
- Mentor Feedback: Friday, February 28
- Final Draft Deadline: Friday, March 12
- Presentation: Thursday, March 19
Attend an Entrepreneurial Workshop in January and February to learn more about small business planning, finance, operations, and marketing, in preparation for our Wright Venture presentations.
|Thursday, January 16 at 4 p.m.||Business Plans|
|Thursday, January 23 at 4 p.m.||Finance|
|Thursday, February 6 at 4 p.m.||Marketing|
|Thursday, February 13 at 4 p.m.||Operations|
Why You Should Enter the Competition
Entering the Wright Venture competition has a number of benefits, including:
- Gain valuable advice and consulting from entrepreneurial professionals
- Get experience presenting your ideas and helpful feedback from our Wright Venture "wolves”
- Earn a $5,000 investment in your business
- Provides a forum for you to experience real-world business collaboration and help you towards a successful business launch.
- Allows you the creative freedom and use of tools, organizations, and technologies to shape your idea and bring it into reality.
- Requires you to prove your business idea is viable with a full financial analysis, business plan, and marketing plan.
- Allows you to collaborate with local entrepreneurs and mentors within the business community and Wright State faculty and staff.
- Expose you to the entrepreneurial experience and the critical thinking, creative decision-making, and life-changing scenarios of the business start-up process.
Frequently Asked Questions
I’m afraid someone will steal my idea. Are there any assurances this will not happen? Are non-disclosure agreements in place?
Most judges are business development professionals, and typically do not sign non-disclosure agreements. Their interaction with multiple businesses and potential entrepreneurs with many business plans minimizes the possibility of receiving truly unique ideas. In order to protect themselves from any possible misunderstandings, non-disclosure agreements are not signed so the judges are not limited in continuing their work with other businesses in the future.
You will also present your idea to a group of your peers in the final pitch and you may be working in close proximity to other teams and students throughout the development process. For this reason, it is the sole responsibility of each team to make every effort to protect their intellectual property.
This competition offers a great opportunity for you to receive valuable insight and advice regarding your idea. However, if you are still not comfortable presenting your idea in the format of the competition, you may want to reconsider entering.
How do I write a business plan? I’ve never done this before.
The Raj Soin College of Business will conduct the pre-submission training and provide ongoing assistance to all teams who enter the competition.
I have invested $3,000 to start my business already. Can I still use this business idea?
Yes, you can submit a self-funded business if it is less than two years old and have not earned gross revenues of $50,000 or more. Owner investment does not count toward the revenue cap.
If I receive an award, do I have to invest it in my business?
The start-up funding award will be distributed based on the funding request within the business plan. Successful execution of the business plan must occur before subsequent rounds of funding will be distributed. Successful repayment of start-up funds is expected before any distribution of profits takes place to team members.
Can I enter more than one idea?
Multiple ideas are welcome, but complete separate applications, submissions, and team selections must be made for each idea.
For more information about the Wright Venture program, email us at email@example.com.
Funding for the Wright Venture program was generously provided by the James Investment Group, City of Fairborn, and Scene75. Additional sponsorship opportunities are available. Contact Jennifer Ruhl for more information.