Conference Info

GENERAL CONFERENCE QUESTIONS

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PARTICIPATION AGREEMENT

NO PURCHASE NECESSARY TO ENTER OR WIN. THIS IS A SKILL-BASED COMPETITION. CHANCE PLAYS NO PART IN THE DETERMINATION OF WINNERS. VOID WHERE PROHIBITED.

How To Participate

Participants may enter the competition individually or as part of a team by submitting an Application. Each participant may serve on only one team or as an individual participant. Each team or individual may submit only one Application, however, each participant must agree to the terms of this Participation Agreement as well as the Terms and Conditions and Privacy Policy, as set forth in the Application.

There are two Competition phases: (1) a monthly competition where a winner will be selected to compete in the grand competition; and (2) the grand competition at the Building A Filthy Rich Conference where contestants will pitch their business idea and are judged for first, second, and third place winning positions.

During the grand competition, participants will have the opportunity to present their business idea to a panel of judges and coaches. Participants are required to submit materials by required deadlines to qualify for wining prizes.

Pitch Video Guidelines

The video should be named according to the following format: Pitch_Industry_TeamName.

Example: Pitch_Technology_ViperSounds

All participants are required to submit a business plan, competition answers, and a video pitch. Up to 12 teams will be selected to compete as Semi-Finalists at the Building A Filthy Rich Conference. Teams will be notified of whether they are invited to advance in the Competition by the last day of February.

Pitch Videos must be recorded in an MP4 format and limited to a 5-minute presentation. All team members must be present in the video, however, it is up to the team on who participates in delivering the pitch. You may choose to have all members contribute to the presentation, or you may choose to only have one or a few members present. Use your best judgement regarding the best way to present your pitch.

In your Pitch, we expect you to include a description of the following:

1. The market opportunity being pursued or the problem or issue that you propose to solve.

2. The features of your product, service or proposed solution.

3. The resources and capabilities required to implement your proposed solution or to develop your proposed product or service.

4. The benefits of your product, service or proposed solution.

5. Management team and advisors (if applicable), including their relevant experience and how or why their expertise/experience is valuable to the development of your product, service or proposed solution.

6. (Optional) Any additional information to enhance your pitch.

Pitch Presentation Guidelines

Up to twelve (12) teams will be invited to participate in the final grand competition, which will be held in March (exact date to be determined). The Final Pitch Presentations will be delivered to a panel of judges comprised of venture capital and private equity professionals and entrepreneurs in front of a live virtual audience. The teams in the Final Presentations will have 5 minutes to present their idea, largely for the benefit of the audience, followed by a 5 minute question and answer session from the panel of judges. Teams can assume that the judges have read their Full Business Plans. Once a team has finished its presentation, it may observe both the presentation and Q&A session of the teams that follow it. Teams may NOT observe other presentations until after they have made their own presentations. The order of presentations will be determined randomly.

Virtual competition guidelines are subject to changes and updates as the year progresses.

Detailed scheduling for the Final Pitch Presentations will be provided to the teams later in the Competition, specifically after March 1st. However, teams should submit an electronic copy of any materials they intend to use in their Final Presentation (such as a PowerPoint file) to Conference@FilthyRichIdea.com by 5pm on March 11th. The file will be provided to the production team for use during the Final Pitch Presentations. Teams may also demonstrate a prototype of their product during the Final Pitch Presentation in the form of a video clip. They may provide other materials for the judges such as handouts and samples during the competition. Teams are NOT REQUIRED to use materials in the Final Presentation.

The winner of the Competition will be announced after the judges’ deliberation. Results will be posted on various social media outlets, websites, podcasts, email and newsletter distributions including industry partners.

Building A Filthy Rich Business Competition Questions

Competition questions should be submitted along with the business plan and pitch video in the Competition Application. CLICK HERE TO ACCESS APPLICATION.

COMPETITION QUESTIONS (PDF)

Questions about the Building A Filthy Rich Business Competition? Contact Conference@testing2.farhanabbasi.com

Business Plan Requirements

Your Video Pitch, Business Plan, and Competition Answers must be submitted to conference@filthyrichidea.com no later than 11:59 PM on the last day of February. Starting in June, one winner will be selected each month to compete in the grand competition in March. Early submission is advised to increase chances of being one of the selected contestants that will participate in the grand competition.

The electronic copy should be named according to the following format: FRIBP_TeamName.pdf.

EXAMPLE: FRIBP_PainterRoundtable.pdf

COMPETITION ENTRY

Competition entry begins in June and ends on the last day of February. All contestants must pitch their plan via video submission (MP4 format) and submit a business plan with answers to the competition questions to Conference@FilthyRichIdea.com. One semi-finalist will be chosen on monthly basis with the last selection occurring in February. All semi-finalists will compete for 1st, 2nd, and 3rd place prizes at the pitch competition which will be held at the Building a Filthy Rich Business Conference.

ROUND 1 – BUSINESS PLAN REVIEW

In this round, your business plan is reviewed and scored for formatting and content.

Your Business Plan Must Contain The Following:

Business Plan (PDF Template)

Business Plan (Word Template)

  • A one-page overview to accompany the business plan in the required format.
  • A cover page with the name of the applicant, street address, telephone number, and email address of the individual entrant(s) and team leader.
  • Team entries must include the names of all team members, and the street address, telephone number, and email address of one designated entrant.
  • A Table of Contents.
  • One-page Executive Summary.
  • Page Numbers throughout the business plan.
  • Elements of a Business Plan template provided on this website.
  • Financial Projections including 3-year summary balance sheet, income statement, and statements of cash flow. Additionally, the statements should include monthly income statements for year 1 and 2 and a quarterly income statement for year 3. The financials should also include a description of sources & uses of funds, break-even analysis and notes to financials inclusive of financial assumptions.

IF YOU NEED ASSISTANCE WITH A BUSINESS PLAN, PLEASE CLICK HERE.

PITCH COMPETITION QUESTIONS

Please note:

* Points will be deducted from your score if your plan exceeds 20 pages.

* Filthy Rich Idea LLC will not reimburse entrants for any expenses related to the compilation or assembly of your Business Plan.

* Working models or prototypes will not be accepted.

* The Business Plans will be destroyed shortly after the competition has ended.

ROUND 2 – JUDGES REVIEW

The judges will evaluate each Business Plan and Pitch Video based on the following:

  • Content of the plan, including the thoroughness and quality of the analysis.
  • Effective use of business information and research.
  • Clear communication.
  • Effective use and impact of the prize money.
  • The probability of a successful launch.
  • Community Impact and job creation potential.
  • Quality and effectiveness of the final presentation (in the event the applicant becomes a finalist and is invited to present).

ROUND 3 – FINALIST PRESENTATIONS

Each monthly winner will be notified of their selection for being a finalist that will present at the Building A Filthy Rich Business Conference. At that point, any additional questions regarding their submitted business plans will be asked for clarification. Finalists will receive an email notifying them of instructions for the competition in the beginning of March. The exact date, time and location will be provided to the finalists in the email.

REVIEW PROCESS

MONTHLY – The panel of judges will review submitted business plans, pitch videos, and competition answers. A single finalist will be chosen on a monthly basis and will compete in the pitch competition held in March. Finalists will be notified and required to respond to the questions of the judges. (Finalists can be a single person or a team.)

MARCH – Finalist will receive an email documenting instructions for the final competition.

Once your written business plan is submitted it will be provided for review by the Semi-Finalist judges. IF YOUR TEAM IS SELECTED AS A FINALIST TO COMPETE IN THE FINAL PRESENTATIONS, you can update your business plan (including financial projections) and submit an updated business plan for review by the Finalist judges. The updated business plan is subject to the same page limitations as the original plan and must be submitted to conference@testing2.farhanabbasi.com by Noon EST on March 10th and will be provided to the judges for the Final Presentations. Only 1 revision is allowed.

Questions about the Building A Filthy Rich Business Competition? Contact Conference@filthyrichidea.com

Judging Criteria

Judges will score the teams’ deliverables using their judgment with respect to specific competition criteria, as summarized below. The teams receiving the highest collective scores on the Pitch Video will advance to the Semi-Final Round and the teams receiving the highest collective scores on the Full Business Plan will advance to the Final Round. The winner of the Competition will be determined by the Final Presentation judges’ ranking of the teams. These rankings will be based on the judges’ assessment of both the Full Business Plan and the Final Presentation. The winning team will be the one whose plan and presentation conveys the most promising combination of significant value creation, attractive returns, and execution feasibility.

Competition criteria that the judges will consider in their assessments include but are not limited to:

1. Clarity, completeness, and persuasiveness of the written business plan and/or oral presentation.

2. The market opportunity presented by the proposed venture (is there a clear market need presented as well as a way to take advantage of that need).

3. The feasibility, uniqueness and quality of the business plan concept (is the product, technology or service feasible and does it provide something novel that gives it a competitive advantage in the market).

4. The feasibility and quality of the business model, including the financial projections provided.

5. The financial and/or social return of the proposed venture (the business represents a real investment opportunity in which they would invest in).

6. The capacity and strength of the management team (experience and expertise).

7. In the Final Presentation round, the quality of the team members’ responses to questions from the judges.

The decisions of the judges in each round of the Competition are final. If no submissions are deemed worthy, no financial awards will be made.

Rules and Eligibility – Building A Filthy Rich Business Competition

1. Competition registration form must be submitted online at www.FilthyRichIdea.com or emailed to Conference@FilthyRichIdea.com prior to the last day in February, no later than 11:59 pm EST.

2. Age. All pitch competition applicants, whether individuals or members of a team, must be 18 years of age or older. Documentation may be required.

3. Location. The business proposed in the Pitch Competition of Building A Filthy Rich Business Conference entry form must operate in the United States of America.

4. Residency. All individual applicants and team members must be legal residents or U.S. citizens. Documentation will be required of the finalists.

5. Start-Ups Only. All businesses must have ideas or business models in the start-up phase. Operating businesses that have earned more than $10,000 in revenue are not eligible to enter the competition.

6. For-Profit Businesses. Building A Filthy Rich Business Conference hosts a pitch competition for for-profit businesses. Non-profits are not eligible to enter.

7. Individual and Team Entry. Pitch Competition entrants may enter only once, either as an individual or as part of a team. If entering as a team, the team must appoint one individual as the team leader and main contact, and one other as the secondary contact. The team leader’s entry form must list all individuals on the team.

8. Judging Criteria. Applicants must read and become familiar with the Judging Criteria and Elements of a Business Plan template.

9. Ineligibility. Employees or their family members from Filthy Rich Idea, Filthy Rich University, Filthy Rich University for Kids, and Rich Fridays Podcast are not eligible to enter the pitch competition either individually or as any part of a team.

10. Finalists. Finalists will be asked to provide their 2019 and/or 2020 tax return and a state driver license or a non-driver ID card.

11. Disbursement of Funds. Prize money will be awarded to each winner following the end of the competition. The winning Building A Filthy Rich Business Conference pitch competition entrant or team will have sole responsibility for deciding how to allocate or otherwise use its prize proceeds.

Please note that the awards are taxable and that Filthy Rich Idea LLC must have the winner’s social security number before a check can be issued.

12. All decisions of the judges are final.

13. Confidentiality. By the submission of your Pitch and Business Plan, you understand and agree that a short description of your Pitch & Business Plan will be considered a “public summary” of your plan and may be used in public documentation related to the competition. Filthy Rich Idea LLC will provide a copy of your pitch and business plan to competition staff and judges and will inform them that no additional copies are to be made.

Questions about the Building A Filthy Rich Business Competition? Contact Conference@filthyrichidea.com

Terms & Conditions

By entering this Competition, you understand and acknowledge that the Sponsors, and the judges, coaches, and other personnel associated with the Competition, are under no obligation to render any advice or service to any participant, during the several stages of the Competition.

Filthy Rich Idea reserves the right to publicly announce the semi-finalists, invite the public to the final presentations, and announce the winners on any of its social media platforms and affiliate platforms.

By entering this Competition, you give your express permission to be contacted by the Sponsors and by telephone, e-mail and/or postal mail for any purpose connected with the Competition.

Released Parties are not responsible for lost, incomplete, illegible, late, damaged, inaccurate, misdirected, garbled, or undelivered entries or email; miscommunications, failed computer hardware or software or technical failures; printing, typographical or other errors appearing within the Participation Agreement, Terms of Use, or Privacy Policy, in any Competition-related advertisements or other materials; or other errors or problems of any kind relating to or in connection with the Competition, including, without limitation, errors or problems which may occur in connection with the administration of the Competition related to scheduling, the processing of entries, mail or e-mail and/or the announcement of the prize, or any injury or damage to participants’ or any other persons’ computers related to or resulting from participation, or uploading or downloading of any materials related to this Competition. The Competition materials are provided to participants by Sponsors solely to facilitate participation in the Competition on an AS IS basis without warranties of any kind.

LICENSE

By registering to participate in the Competition, participants grant Sponsors and their respective affiliates and assigns, an irrevocable, perpetual, worldwide non-exclusive license to reproduce, distribute, display and create derivative works of your entry, including excerpts from business plans submitted and related presentation materials (“Participant Materials”) in connection with the promotion and administration of the Competition, in any media now or hereafter known, including, but not limited to: Sponsor websites, press releases, email messages, or newsletters. Display or publication of any Participant Materials on a Sponsor’s website does not indicate the participant will be selected as a winner in the grand competition during the Building A Filthy Rich Business Conference. You agree that Sponsors and their designees shall have the right and permission to use (unless prohibited by law) your name, voice, address (city and state of residence), photograph, biographical information and/or other likeness, for advertising, promotional or any other purpose in any and all media or format now known or hereafter devised throughout the world, in perpetuity, without limitation and without further compensation, consideration, permission or notification to participants or any third parties.

LIMITATION OF LIABILITY

By entering this Competition, all participants agree to release, discharge, and hold harmless the Released Parties from any claims, losses, and damages arising out of their participation in this Competition or any Competition-related activities and the acceptance of any prize awarded hereunder. Participants agree that this Competition shall be subject to and governed by the substantive laws of the Commonwealth of Georgia. The forum for any dispute shall be in a court of competent jurisdiction located in Fulton County, Georgia.

You understand that you should not disclose any confidential information, trade secrets or patentable subject matter in your Participant Materials at any stage of the Competition.

You are solely responsible for protecting your rights or the rights of third parties in any intellectual property disclosed in your Participant Materials. You hereby represent and warrant that you have sufficient rights in any third party intellectual property contained in the Participant Materials in order to grant the licenses set forth in this Participation Agreement.

MISCELLANEOUS

No transfer, assignment, or substitution of prize permitted except by Sponsors who may substitute the prize with a prize of comparable or greater value at their sole and absolute discretion. Winners are responsible for all income, federal, state and local taxes as well as any other costs or expenses associated with prize acceptance. All prize winners will be required to execute and return an Affidavit of Eligibility, Liability and Publicity Release within five (5) days of date of prize notification. Non-compliance with any of the foregoing or this Participation Agreement, the inability to contact the potential winner within a reasonable time period, failure to return such documents within the specified time period or attend scheduled Competition events, or the return of the prize as undeliverable may result in disqualification and, time permitting, awarding of the prize to an alternate winner, at Sponsors’ sole discretion, from among all remaining eligible entries. By participating, each entrant agrees to be bound by the terms of this Participation Agreement.

Sponsors reserve the right, in their sole discretion, to modify, terminate or suspend the Competition (or any portion thereof) for any reason.

WINNERS NAMES

Winner’s Name: A list of winners will be displayed on the website after the competition.

TRADEMARKS

The Filthy Rich Idea logo and its brands, Filthy Rich University, Filthy Rich University for Kids, Rich Fridays Podcast, and Filthy Rich Mindset, are trademarks of Filthy Rich Idea LLC. Other company, product, or service names may be trademarks or service marks of others.

Questions about the Building A Filthy Rich Business Competition? Contact Conference@FilthyRichIdea.com

August 2024

Building a Filthy Rich Business
Conference

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