Each year the University of Oregon's Lundquist Center for Entrepreneurship (LCE) hosts two internal Venture Quest business plan competitions for students of the Lundquist College of Business and the University of Oregon. The Venture Quest M.B.A. competition is held at the end of the fall term and the Undergraduate Venture Quest competition is held at the end of the spring term of each school year.
The Competition Format for Venture Quest requires each team to give a fifteen-minute PowerPoint presentation for their venture to a panel of judges made up of highly successful business professionals selected from the Northwest business community. A question-and-answer session follows each presentation where teams must defend their concept and plan under live fire conditions. Cash prizes are awarded to the top finishers.
Frequently Asked Questions:
Do we have to take one of the classes to compete in Venture Quest?
To compete in the M.B.A. you must register and complete a business planning class. However, for the Minor Venture Quest it is not a requirement but strongly encouraged.
Is our class grade affected by participating in the competition?
These are two different activities with two different agendas. The process of developing the business plan is completed within the associated course. The grade you receive within class is therefore completely separate from competing in the Venture Quest. However, you will utilize feedback from the grading process to improve your plan and presentation for the Venture Quest.
How many teams typically compete in each Venture Quest?
The number of teams competing is determined through entry into a qualifying submission process. Each Quest event may vary as to the number of competing teams. Typically each Venture Quest event will be limited to eight qualifying teams.
Do you have to have an existing business idea to take part in this competition?
Not at all. Teams are usually formed the first week of class. During this time, business ideas will be presented and the instructor will help create diversified teams. In other words, if you don't have an idea but have strong finance or marketing capabilities, you will be a great asset to any team!
I am a business minor that has started writing a business plan. How can I enter the Venture Quest?
You will find a link to the Venture Quest Minor event on our website. You need to follow the same criteria and guidelines as the BA 410 students. Make sure you submit the Intent to Compete form by the prescribed deadline.
Who gets the award money?
Teams are required in advance to submit payment information to the LCE. Unless otherwise specified, award money will be distributed equally among team members.
The Venture Quest looks like a lot of work. Is it really valuable?
Whether you are going to launch your own business venture now or in the future or work for an existing company, the development, communication and defense of a business plan could be the most valuable business skill you learn at the University of Oregon. Ask any employer or investor!