Rules

  • Participants may compete as individuals or as teams. Those participating are encouraged to build a strong team with a variety of strengths and skill sets. A maximum of 7 team members may compete on each team. Please note at least 50% of your team should have an affliation to Notre Dame, as current students or alumni. 
  • Each team must be led by a current Notre Dame student (graduate or undergraduate).
  • Notre Dame alumni and faculty are welcome to enter the McCloskey Competition by submitting the required required documents for Round 1.  Those selected to advance to Round 2 may continue in the Competition as long as a current Notre Dame student is invited into the process to lead the team effort for the purposes of the Competition:  student(s) must be integrally involved in the business planning process, including the development of the business model, writing the business plan and presenting at subsequent rounds of the Competition.  The alumni/faculty essentially become advisers to the team as the students develop the business model
  • Teams may include individuals not affiliated with Notre Dame as long as the venture is led by a current ND student.
  • Participants may compete on more than one team.
  • Participants may enter more than 1 of their own original ideas (this individual may lead more than one team).
  • Participants may enter the same new venture twice but must demonstrate that the business model has changed significantly in response to feedback from the prior year (the same venture cannot compete more than once unless the business model has changed significantly)
  • Nonprofits may enter the Competition as long as the business model includes an income generating revenue stream in addition to traditional philanthropic sources (donations, grants, foundations, etc.)
  • Competing businesses/ideas must be in the preliminary stages of development. Venture must have:
    • Generated no more than $500,000 in cumulative revenue
    • Raised no more than $500,000 in external financing
    • Been in operation less than 3 years