The Rotary Club of Red Bank is excited to announce the first annual RBR "Shark Tank" Challenge. This is an exciting opportunity to win up to $2,500 towards a college scholarship or an award for your startup business. The idea behind this is to promote entrepreneurship amongst our high school students. The application for these scholarships/awards will take the form similar to that of the Shark Tank television show. Applicants may work independently or in a team of up to four people.
The application process will be in two steps for the students. Applicants will first submit a basic business idea that they believe would be a successful venture in the real world. For the application to be accepted, the following criteria should be met:
1. An idea for a product or service that is unique and feasible.
2. How and where will the product be made and/or the service provided?
3. What is the estimated cost of manufacturing the product or for the providing of the service?
4. Where will the product be sold or the service provided?
5. What is the estimated potential profit of the business?
6. What is the growth potential of the product or service?
It is understood that some of these answers will be theoretical but it is expected that some research is done in an effort to be as accurate as possible.
You may submit your ideas as written proposal or as a PowerPoint and your proposal may include visual aids. However, it must be limited to 700 words in length.
A panel of judges will select the best ideas and then these applicants will proceed to the second step, which consists of making a presentation before the judges. The presentation may use any medium the applicant chooses to use but the presentation must not last more than five minutes. Afterwards, the judges will ask questions regarding the ideas.
All applications must be submitted either by email to firstname.lastname@example.org or by mail to D. Orrigo, Red Bank Regional High School, 101 Ridge Road, Little Silver, NJ 07739.
Deadline for submissions is April 7, 2017. No proposal will be accepted after this date!
First Place Prize $2,500 for individual or team
Second Place Prize $1,500 for individual or team
Third Place Prize $1,000 for individual or team
Why? To promote entrepreneurship and demonstrate how young people can use their creativity to make the world a better place
Who? RBRHS students … work alone or form a team (up to 4 members)
Awards: First Prize: $2,500 Second Prize: $2,000 Third Prize: $1,500
What? Submit a business proposal for an innovative & realistic product or service that is a viable business plan to MAKE THE WORLD A BETTER PLACE
How? Proposals are limited to 700 words and must include the following:
When? Submit proposal by April 7, 2017
Winning proposal selected by the RBR Shark Tank judges
Fully developed Business Plans presented to a Shark Tank judges on May 30, 2017
Question? Email email@example.com or see the RBR Website for detail and application form. Forms are also available in main office.