The RBC EPIC Business Model Canvas Competition organizers recognize that no set of criteria can apply to every circumstance and therefore reserve the right to disqualify any team that it determines to be in violation of the spirit of the competition. Similarly, students who feel they fit the spirit of the competition but may be in minor violation of the eligibility criteria, may submit a petition to firstname.lastname@example.org All decisions will be made by the RBC EPIC BMCC organizers and are final.
Team Composition Competing teams should consist of no more than 5 post-secondary students enrolled at least part-time at an accredited institution of higher education in Canada during the competition year. Non-students may be part of the venture but cannot participate in the competition (e.g., video submission, pitching, Q&A, etc.). The competition is for student-created and -managed ventures, including new ventures launched by licensing university technology.
Students are expected to:
1. Be the driving force behind the new venture
2. Have played the primary role in developing the business model
3. Have key management roles in the venture, and
4. Own significant equity in the venture (if allocated)
If the company has allocated equity, then the participating team members must collectively own 20% or more of it.
The student team must control a minimum of 51% of the venture’s voting rights.
No more than $100,000 will be allowed from friends and family, debt (any source — convertible, venture, traditional), accelerators, grants, and equity investments (angel and venture capital). Annual recurring revenue must not exceed $100,000. Combined investments and revenue must not exceed $100,000.
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.
Language of the Competition
English must be used in all competition submissions and presentations.
While a venture may compete only once in the RBC EPIC BMC, team members may participate multiple times.