The Tech-Prize Experience

Overview

The Tech-Prize Process establishes a “Method” to work through the steps to take an idea from raw concept to the market.  As illustrated in the Tech-Prize Experience Graphic, the process is organized in a logical progression.

The basic questions and expectations are contained in each step. Mentors are made available to help people through those steps. The ultimate goal is to make as many of these great ideas a reality as possible.

Let’s get your idea implemented in the world. Ideally, right here in our community!

Experience, Scale and Scope are Key

The Tech-Prize team is made up of individuals that have done this. They have done this in companies, education, civic and philanthropic groups. They have done this in the local community and around the world. They have done this in groups that range from a few individuals to thousands of employees and customers. They have done it for revenue sizes ranging from a few thousand dollars to billions of dollars.

Connect with incubators, competitions and resources

Tech-Prize works with a number of national incubator groups to offer the best benchmark processes to present these ideas to active investors from throughout the region.  Tech-Prize then offers competitions through which participants can hone their skills and walk away with cash prizes, scholarships, and even more importantly, exposure to investors.

This “Loud, Proud, engaging competition”, draws our community together where individuals can meet others like them, and find resources to help them get through the challenges every idea faces. Participants compete to improve their ability to explain their idea, present their business model and go to market plan effectively with the ultimate goal of the best ideas to find funding.

Participants have the opportunity to engage a community that is purposefully designing a process and the support to enable them. It is expected that civic and business leaders will be judged superior and in doing so, the innovator would find this community and region and place to call home.

It’s Not Lack of Capital

The Tech-Prize team strongly considered developing our own Venture Capital fund. What we found was that our region has a wealth of investment groups seeking great ideas.

There is no lack of capital.

What is lacking are ideas that are mature enough and ready to actually receive investment!

Investors are Frustrated

There was a specific individual that stated to us their view of the problem:

“A cottage industry has developed that prepares people to make a 5-minute pitch that is as polished and professional as anything you can imagine. They are great and impressive. However, I’ve listened to 200+ pitches in the last year. I’ve only been able to invest in one of those. When you ask questions beyond what is included in the “Pitch”, the content has not yet matured. Someone needs to take the bull by the horns and commit to work to make ideas capable of investment. That is the shortcoming.”

This specific point defines where Tech-Prize has created what is important – this is the mission. We are not here to have a party, or have a pitch competition. We are here to create a culture and process that makes ideas reality!

The answer to the question “Yes – this is a great process!”

How do I use Tech-Prize?

Align with the Mission

The Tech-Prize teams’ mission is to “Create a Culture and Process that Make Ideas Reality”.  This isn’t just talk.  We have developed and are refining this “Tech-Prize Experience” made up of best practice processes across the spectrum of activities that innovators and start-up teams must complete in order to get the attention of investors (and FUNDING is the objective!).

Our Mission: Create a Culture and Process that Make Ideas Reality

These “Founders” have vastly different levels of experience and capabilities.  Some need a lot of help, others not so much.  But the Tech-Prize Experience starts from the premise that we meet the innovator where they are.  Evaluate what they know, and where they need help and help them develop the best plan forward to get investor attention. 

We want these founders to exploit us!

Exploit the Resources

As we evaluate a Founders readiness, we allow them to exploit what we call “Special Sauce” skills. These are the skills that individuals do not find in formal education. These are the knowledge pieces that are learned out in the world on “How to make things happen”.

Special Sauce Skills are at the Center of The Tech-Prize Experience.

These skills are shared and developed through different methods and steps – all part of the Tech-Prize Experience:

1. Incubator to “Maker” – The community is preparing space and relationships that will enable an innovator to progress as their idea and capacity progress. This can include physical space for offices and meetings, connections to funding through investors, grants, and loans, and also expansion into space for whatever suits their needs. Individual discussions will determine the need for that person or group and then enable the correct result.
   1. Mentoring: Competitors entering a Tech-Prize competition, will be offered an individual mentor, to meet them where they are, and evaluate what that person or group needs to do. While the process has defined steps, figuring out where an idea is at in that process and how to proceed efficiently are very important steps. As an output of that evaluation, the individual will be able to compete more effectively in the competition series, but also have outstanding guidance on what steps they need to take next. An enhanced opportunity for more detailed mentoring can then come as the next step in several ways
   2. Biz-Shops – These are educational sessions, normally formed as introductions in a panel format discussion. They are all recorded on the Tech-Prize.org website, under “Past Events”. In addition to the content discussed, each of the panelists has offered to make themselves available to innovators to help address basic questions. For those needing to go significantly deeper, arrangements can be made to enable the support to make that happen
   3. Incubator to Launch – For ideas that win the competitions, or ideas identified as “High Potential”, long-term mentoring and incubator programs are in place and available. These are formalized programs that require a commitment from the innovator and also the lead mentor. The entry-level to these programs does not require a financial commitment. The full-depth levels do require modest financial participation from the innovator as a commitment to the diligence required to make that idea reality. Scholarships are available for specific needs.

Take the Next Step!

So that is The Tech-Prize Experience!  Are you ready to develop your idea?

Take the next step – join us!

You can register for a Tech-Prize competition and join the excitement of developing your idea and pitching to investors

Register for Idea Competition

Register for Pitch Competition

– and/or –

Reach out to us on our contact page and schedule time with a Tech-Prize mentor.  In that session, you will experience a one-on-one discussion to understand where you are and determine the best place for you to engage with us!

Talk with a Mentor