Peter Farrell Cup

Competition Rules

The Spirit of the Competition

All participating teams are expected to satisfy the following set of rules based on those developed by the directors of major university business plan competitions.

However, we do recognize that no set of rules, no matter how thorough or carefully developed, can cover all circumstances. Accordingly, all teams are expected to abide by the specific rules enumerated below as well as the overall spirit of this competition. The CIE reserves the right to disqualify, at any time, any team that violates the rules, regulations or the spirit of the competitions.

Venture & Team Eligibility Rules

  1. All currently-enrolled UNSW students, from any faculty, college, or school, are eligible to participate in the competition. This includes graduate, distance, and executive education students.
  2. This is a competition for currently-enrolled UNSW students. The Team Leader must be a currently-enrolled UNSW student and the majority of the team members must be made up of currently-enrolled UNSW students.
  3. This competition is a team challenge, so individual entries are not allowed. All teams must have at least two (2) members and have a maximum of five (5) members
  4. The competition is for student-created, -managed, and -owned ventures. In other words, students must play a major role in conceiving the venture, have key management roles in the venture, and own significant equity in the venture.
  5. 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 functional area 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.
  6. Non-students may be members of the venture’s management 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.

Nature of Ventures

The competition is for new, independent ventures in the seed, start-up, or early growth stages. Generally excluded are the following: buy-outs, expansions of existing companies, real estate syndications, tax shelters, franchises, licensing agreements for distribution in a different geographical area, and spin-outs from existing corporations.

Licensing technologies from universities or research labs is not excluded and is encouraged, assuming they have not been commercialized previously. If you have any questions about licensing, patents, intellectual property protection, trademarks or similar issues, please contact UNSW Innovations +61 (2) 9385 5008.

All ventures should be seeking outside equity capital.

Prior Activity

Ventures that have raised equity capital from sources other than the members of the student team or their friends and family before the current academic year, i.e., before February 2017, are excluded.

Ventures that have legally set up a venture identity or have undertaken any other formal start-up activities prior to the current academic year, i.e., before February 2017, are excluded.

However, both student and other team members may have worked on an idea or new technology in previous academic years or prior to entering graduate school, provided that their venture had no revenues, raised no outside equity or investment capital, and/or did not undertake any other formal start-up activities prior to the current academic year.

Confidentiality and Intellectual Property Guidelines

The authors of the pitch deck will retain all rights to the pitch deck regarding its use at all times prior to and following the competition except as stated below. Due to the nature of the competition, we will not ask judges, reviewers, staff or the audience to agree to or sign non-disclosure statements for any participant.

All public sessions of the competition, including but not limited to oral presentations and question/answer sessions, are open to the public at large. Any and all of these public sessions may be broadcast to interested persons through media which may include radio, television and the internet. Any data or information discussed or divulged in public sessions by entrants should be considered information that will likely enter the public realm, and entrants should not assume any right of confidentiality in any data or information discussed, divulged or presented in these sessions.

The UNSW Business School and the Centre for Innovation & Entrepreneurship (CIE) may make photocopies, photographs, videotapes and/or audiotapes of the presentations including the pitch deck and other documents, charts, or material prepared for use in presentation at the Peter Farrell Cup Entrepreneurship Competition. Students retain all proprietary rights. The University may use the materials in any book or other printed materials and any videotape or other medium that it may produce, provided that any profits earned from the sale of such items is used by The Business School solely to defray the costs of future Peter Farrell Cup. The Business School has non-exclusive world rights in all languages, and in all media, to use or to publish the materials in any book, other printed materials, videotapes or other medium, and to use the materials in future editions thereof and derivative products.