Student Team – Competing teams should consist of at least one and no more than five degree-seeking college students who are enrolled part-time (minimum of 6 credit hours) or full-time in a semester during the competition year. 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.
Ownership – The student team must have a minimum of 20% ownership in the venture.
Control – The student team must control a minimum of 51% of the venture’s voting rights.
Revenue – Revenue is one form of validation for a successful venture. However, if revenues are excessive, TBMC organizers will determine if a team is still eligible to participate in the competition.
Investment – Like revenue, investment is another form of validation. However, if investment is excessive, TBMC organizers will determine if a team is still eligible to participate in the competition.
Nature of Venture – Ventures cannot be a buyout, an expansion of an existing company, a real estate syndication, a tax shelter, a franchise, a licensing agreement for distribution in a different geographical area, or a spin-out from an existing corporation. Licensing technologies from universities or research labs is encouraged, assuming they have not been commercialized previously.
Prior Activity – Ventures may compete in the TBMC multiple times provided they still meet all other eligibility requirements. Note prior participation rules in the International Business Model Competition may differ.
Dropping Out of the Competition – If a team withdraws or does not compete in the competition after accepting a bid, the team and the university will be subject to disqualification from competing in the Tulane Business Model Competition for that year and the following year – a two-year ban.
Faculty Mentor – We require that all teams have a faculty mentor from the participating institution.