About Velocity's $100k Challenge (ENTRIES CLOSED)

The Velocity $100k Challenge is Now Closed for 2019! Stay up to date with our upcoming challenges and events on the Velocity Facebook Page!

Read below for an ideas on what to expect for the $100k Challenge in 2020! 

You may have an idea to solve: a social issue, an environmental problem, exploit a market opportunity or even one based on university research.

Create an entry to show how your idea could become a venture. Judges will then decide the ideas displaying the potential to fly. Those entrants who make it through to the shortlist will win a place in the Velocity Launch Pad Programme. Here you will receive mentoring and workshops to discover how to translate your idea into reality.

The finalists additionally compete for the $100k Velocity Grand Final for seed-capital and support in growing their venture!

 

The Details

The Prizes

There’s a total prize pool of over $100,000, which includes mentoring and development!

First Place

$25,000

 
+ Entry to Venture Lab

 

Runner-Up

$15,000

 
+ Entry to Venture Lab

 

3 x Category Winners

$5,000

 
+Entry to Venture Lab

 

All teams selected for the Launch Pad programme receive $1,000 and a mentoring and development package valued at $5,000.
All $100k entrants receive feedback from leading New Zealand industry experts.

The Categories

New Ventures

This category is for ventures based on smart, innovative ideas which are not based on University research.

Social Entrepreneurship

For ideas that solve social and environmental problems, and provide social and environmental benefits.

University Research

For entries based, entirely or in-part, on research undertaken by staff and postgraduate students at the University of Auckland or other research institutes.

The Extras

Resources

Venture Summary Template

 Click below for a PDF document of the Venture Summary Template:

Velocity 2019 $100k Challenge Venture Summary Template and Guide – FINAL

Lean Business Model Canvas

Click below for a PDF document with a Lean Canvas that can be used as your business model. Please note that any business model canvas can be used. Lean-Canvas- Colour

$100k Challenge Rules

Click below for a PDF document with the $100k Challenge Rules:

2019 Velocity Challenge Rules – Final

Some Help

100k Challenge Workshop

In this workshop, you will get practical tips on how to make your entry into the $100k Challenge standout. Want to know what the judges are looking for, hear from past winners and have an advantage over others – this workshop is for you. We look forward to seeing you there.

100k Challenge Clinics

You might have heard of them, but what are they? And why should you book a session?

A clinic is a 25-minute one-on-one session with someone from the start-up and entrepreneurial ecosystem. You talk about your idea, and the clinician provides you with expert advice, probing questions and suggestions on how to improve your idea.

Many of our clinicians are normally paid to give advice, so to get access to these people for free is an opportunity not to be missed.

The clinicians have a wide range of expertise, so select the one that you think might be most helpful for you.   

 

Key Events

100k Qualifiers Ceremony

This is the event you’ve been waiting for. Our judging teams have deliberated, and now you are about to find out which 15 teams will make it through to the next stage. Who are the entrepreneurs and change-makers of the future? Come to the $100k Qualifiers all will be revealed. Celebrate with the winners and, with our yet to be announced keynote speaker, this is an event you do not want to miss. Click here to reserve your spot to the amazing event now!

Judges Feedback Night

This evening provides an awesome opportunity to receive feedback on $100k challenge entries from our expert judges. The feedback will be invaluable and will set your entrepreneurial pathway toward success! Click here to RSVP to the event!