The Milken-Penn GSE Education Business Plan Competition (EBPC) is open to applicants worldwide and offers a tremendous opportunity to entrepreneurs and investors alike. The Competition includes a path for Ideas (opening Summer 2017), as well as a path for Ventures (check back in January 2018). In offering multiple prizes and prize categories, the EBPC attracts innovative ideas in education from around the world, ranging from those structured on local or global needs, public or private issues, Pre-K through adult education, and social or for-profit ventures.
- Idea Path Grand Prize (1): $5,000
- Other Idea Path Prizes (2): $2,500
- All Idea Path Finalists: $1,000
Any individual is eligible to enter the Competition by submitting an Entry (defined below), except the following individuals are not eligible:
- Anyone who is under 18 years old;
- Any Competition judge;
- Anyone who previously was awarded a prize in this Competition. (However, if a previous winner wants to enter a new educational entrepreneurship business plan, which the University determines, in its sole opinion and determination, is unrelated to the previous winning educational entrepreneurship business plan, then the previous winning Applicant may do so, subject to his or her or its compliance with all of the other eligibility requirements.);
- Anyone for whom it would be illegal to enter this Competition in his or her legal jurisdiction of residence;
- Any Graduate School of Education faculty, lecturer, administrator, staff, or other employees. (Note: Faculty, lecturers, administrators, staff, employees, and students from the University of Pennsylvania and its schools, centers and institutes, other than the Graduate School of Education, may enter the Competition, provided that he or she has first disclosed his or her product or service or technology or concept or intellectual property to the University’s Penn Center for Innovation or its successor (“Penn PCI”), using the disclosure form required by Penn PCI, in order for Penn PCI to determine whether the University has an ownership interest in such product or service or technology or concept or intellectual property by virtue of its intellectual property and employment policies.
- A group of individuals also may enter the Competition, so long as all of the individuals meet the requirements above for a single individual to enter. In other words, if one member of the group is ineligible to enter, the group is not eligible to enter. A corporation, partnership, or other legal entity, whether for-profit or not-for-profit, also is eligible to enter, provided it is legal for the entity to enter under applicable law. However, organizations entering the competition may not have raised more than the equivalent of US$500,000 from all investors and founders since the beginning of the legal existence of the organization until the date the organization submits its Executive Summary and Application Form.
- Additionally, organizations entering the competition may not have had more than the equivalent of US$200,000 in gross revenue since the beginning of the legal existence of the organization until the date the organization submits its executive summary.
- Organizations that have raised more than this threshold, as determined in the sole opinion of the University, will be disqualified. Furthermore, organizations entering the Idea path of the Competition are expected to be pre-revenue and pre-investment.
- Each Applicant is responsible for determining whether he, she or it is eligible to enter the Competition, based upon these Rules and the laws governing the applicant.
- The University of Pennsylvania (“University”) will not make this determination for you. However, if the University determines, in good faith, at some future time, that the Applicant was ineligible to enter the Competition or submit the Entry, the University may disqualify the Entry at any time, before or after the awarding of the prizes.
Eligible Regions: Open For All
- To enter the Competition, an eligible Applicant must submit all of the required materials (an “Entry”).
- A subset of these Applicants will be selected as finalists in the Competition and invited to present the business plan orally at the University, before judges.
- The Competition may choose to hold one or more Competition paths, including an Idea path, a Venture path, or both. Applicants may enter the Idea path, the Venture path, or both.
- A business plan based on an idea or concept that has been previously published is eligible, provided the Applicant discloses the previous publication(s).
- All entries must be submitted in the English language.
- An Applicant cannot transfer legal ownership of his or her business plan simply by entering the Competition; you retain ownership of your business plan and the legally-protectable concepts and ideas that may be patentable, copyrightable, or trademark-protectable (if any) disclosed in your submission.
- However, given the nature of this Competition, the Entries (including the business plans) cannot be kept confidential. Therefore, if you think your Entry contains or discloses any patentable invention (such as a potentially patentable business process), you should consult your own legal advisor before submitting your Entry, to determine whether you should take steps to protect any potentially patentable invention, trade secret, or confidential information before you enter the Competition.
- While the Applicant retains the ownership of your business plan disclosed in your submission, by submission of the application the Applicant agrees that the University has the right to use the submitted materials and information for academic research and to provide it to researchers who agree not to publish your business plans, images, or any other information that would identify you or your company, including addresses and contact information. (The Applicant is responsible for checking with any employer or others regarding policies on ownership of patentable inventions and other parts of any submission. If you are a faculty member, lecturer, administrator, staff, employee or student at the University of Pennsylvania, the University’s then-current policies on ownership of patentable inventions and copyrightable works continue to apply to you, in connection with any Entry you make.)
- By submitting an Entry, an Applicant represents that all of the information and materials comprising his or her Entry are original; and that the ideas, developments and/or technologies disclosed as part of his/her Entry have been created, developed, and are owned by the Applicant, or if not, that the Applicant has all rights necessary from other creators, developers and/or owners needed to submit the Entry and represent that he or she is the creator, developer and owner of the idea, development, or technology disclosed as part of the Entry.
- Notwithstanding the foregoing, in the event that Applicant is a faculty member, lecturer, administrator, staff, employee or student at the University of Pennsylvania, and Penn PCI has determined that the ideas, developments and/or technologies are owned in part or in whole by the University of Pennsylvania, Applicant must provide a letter of support from Penn PCI stipulating that a license from the University of Pennsylvania will be required to commercialize any product or service resulting from further development of the idea, development, or technology. This letter must be submitted by the Applicant, in addition to any other materials required by the Competition in the Venture path.
- By submitting an Entry, an Applicant agrees not to seek any financial damages from either The Milken Family Foundation or the University for any claim, dispute or cause of action in connection with or arising out of or related to the Competition.
- By submitting an Entry, an Applicant agrees that, if he or she wins a prize, the Applicant will allow The Milken Family Foundation and the University to use his or her name, photograph, image, and likeness to publicize the Competition, including, for example, through use in press releases and on web sites.
Application Deadline: September 12, 2017 (35 Days Remaining)