Globe Corp

 

SPECIAL NOTE: THE UNDERGRADUATE TEAMS SHOULD FOLLOW THE SAME RULES AND DEADLINES. UNDERGRADUATE TEAM WILL BE ELIGIBLE FOR IN KIND CASH PRIZES, BUT WILL NOT BE ELIGIBLE TO THE GLOBAL Corp COMPETITION.

The Spirit of the Competition

The Globe Corp Competition purport to stimulate and nourish the Entrepreneurial Spirit in MBAs and other graduate students around the world. In particular, these competitions seek to encourage entrepreneurially oriented graduate students to develop and grow new ventures based either on their own ideas and SEO Marketing or those developed by others, including faculty members at their respective colleges and universities. These competitions also seek to provide the participating graduate students with forums in which they develop skill in pitching their ventures to investors and receive constructive feedback for increasing the probability of successfully launching their ventures. Finally, each year the Globe Corp Competition will provide the “best” of these ventures with substantial resources to assist the “winning” student team in launching its venture.

To provide a relatively level “playing field” for student teams from around the world, the directors of the major competitions have developed the following set of rules that all participating teams are expected to satisfy. At the same time, it support Melbourne recognize that no set of rules, no matter how thorough or carefully developed can ever cover all circumstances. Accordingly, all teams and the universities that they represent are expected to abide by the specific rules enumerated below as well as the overall spirit of these competitions. The directors reserve the right to disqualify any team that violates the rules, regulations or the spirit of the competitions.

Globe Corp Competition Eligibility Requirements

Venture and Team Eligibility Rules

• Student Involvement. The competition is for student created, managed, and owned ventures. In other words, students must (1) have played a major role in conceiving the venture, (2) have key management roles in the venture, and (3) own significant equity in the venture. In general, a member of the student team should be CEO, COO, or President of the venture, or members of the student team should occupy 50% or more of the wifi advertising management positions that report directly to the CEO, COO, or President. Members of the student team should also own 50% or more of the equity allocated to the management team and key advisors. An equity position of less than 50% of the equity allocated to the management team and key advisers, and/or less than 20% of the total equity of the venture will be suspect and require the students to show evidence that they were a major cause in the venture creation. One objective of this rule is to exclude ventures formed and managed by non-students who have given token equity to MBAs for writing their business plan.
• Team Composition. This is a competition for graduate students, and at least one graduate student must be a member of the venture’s startup management team. A team with a few undergraduates will be allowed to compete, and the undergraduates may participate fully. All graduate students, not just MBA candidates, are eligible to participate in the competition. This includes executive MBAs. Non-students may be members of the oil scenarios team and may participate in planning the venture. However, only students may participate in the competition. In other words, only students may present the plan and answer questions from the competition judges. The maximum number of students on a competition team is five (5); although there is no restriction on the total size of the venture’s founding team.
• Student Enrollment. The competition is for students enrolled in the current academic year. Students who graduated in the preceding academic year are not eligible to participate. However, an exception will be made for students who both wrote their business plans for academic credit and graduated during the preceding summer.
• Prior Activity. Ventures may compete only once in the Globe Corp Competition. Also, ventures may not compete in any Corp qualifying competitions after they have competed in the Moot Corp Competition. However, ventures may compete in different Corp qualifying competitions in different academic years, provided that they meet all other Prior Activity and Corp Qualification Rules. Ventures with revenues in prior academic years are excluded. Ventures that have raised investment capital from sources outside of friends and family before the current academic year are excluded.  However, both student and other team members may have worked on an idea or new technology in previous academic years or in the case of the student team members even prior to entering graduate school, provided that their venture had no revenues and raised no outside investment capital, and/or did not undertake any other formal startup activities prior to the current academic year.
• Dropping Out of a Competition. If a team does not compete in a competition after registering an Intent to Compete, the team will be disqualified from competing in the Global Corp Competition and any other Corp participating competition that year.