RULES

Official Competition Rules

By submitting an application to the Coast Works Competition, all applicants and contestants consent to the following rules and guidelines.

Coast Works Competition Committee

The Coast Works Competition Committee will oversee the application and enforcement of these rules and guidelines. The Coast Works Competition Committee will consist of a representative from Enterprise for Equity (E4E), The Nature Conservancy (TNC), the Ta’ala Fund (Ta’ala Fund), and the Center for Inclusive Entrepreneurship (CIE). CIE will serve as the Competition Administrator.

Who Can Apply

The competition prioritizes new independent and locally-owned businesses that can be launched with less than $50,000 in financing. New products or services from an existing small, independent and locally-owned business may be considered. The proposed new business or new products or services must have a significant operational presence in communities in Grays Harbor, Jefferson or Clallam Counties.

Apply to Compete

To apply, contestants must:

(1)   complete Enterprise for Equity’s registration form;

(2)   attend an Ideation Event or an Enterprise for Equity Information Session; and

(3)   complete Enterprise for Equity’s Business Readiness Workshop.

Contestants will be selected by the Coast Works Competition Committee from individuals who have successfully completed Enterprise for Equity’s Business Readiness Workshop with a feasible business idea that meets the spirit and objectives of the Coast Works initiative (see Judging page on this site).

It is important that there is representation across tribal communities and each of the counties in the region. To ensure diverse representation, the Competition Committee will make an effort to include the top scoring applicant from each of the four tribes in the project region (Quinault, Hoh River, Quileute and Makah). In addition, to ensure geographical representation, the Competition Committee will make an effort to include the two top scoring applicants from each of the three counties in the project region (Grays Harbor County, Jefferson County and Clallam County). Remaining participants, if any, will be determined solely on the basis of their score. Enterprise for Equity will provide support for all program participants whether or not they ultimately compete for or win the Coast Works award, including assistance in obtain loan or other capital from other available funding sources.

Develop Your Business Concept

The competition includes a comprehensive integrated business training program to ensure that all contestants have the opportunity to develop and present strong business plans. Accordingly, to be eligible to compete for the competition prize, contestants must:

(1)  Complete Enterprise for Equity’s 8-week  Business Planning Program;

(2) Participate in an intensive weekend Entrepreneur Summit and Pitch Clinic;

(3)  Submit a written business plan to the judging panel;

(4)  Present their business plan to the judging panel at the Coast Works FastPitch; and

(5)  Participate in the Awards Ceremony.

The E4E Business Planning Program will consist of a comprehensive training on all aspects of the business planning process. At the Summit, contestants will participate in workshops on sustainability, lean startup and making a pitch, meet with business advisers and mentors, and assemble an advisory team who will help them polish their Business Plans and Pitch Presentations. All travel, meals and lodging will be provided for the Summit, the FastPitch and the Awards Ceremony. See the Calendar page on this website for details on times and locations.

Judging Process

The Coast Works Competition Committee will select an independent panel of judges with deep local knowledge and expertise in entrepreneurship, business startups, business management, and sustainability.

The judges will apply the Judging Criteria (see Judging page on this site) to evaluate the Business Plans and Pitch Presentations on the basis of the feasibility of the business models and their potential for positive social and environmental impact.

Feasibility will focus on (1) the extent to which contestants have validated a value proposition, a product-market fit, a sufficient market opportunity, realistic marketing strategies and other key elements of the business model, and (2) preliminary cash flow and breakeven projections.

Social and environmental impact will focus on an analysis of (1) how the business will contribute to conservation and sustainable use of local natural resources, (2) the extent to which the business revenue will stay within the local economy, and (3) how the business will contribute to the development of local business leadership and community self-determination.

Prize Money

The top scoring contestant will receive up to $10,000 in startup capital. The top second and third scoring contestants will each receive up to $5,000 in startup capital. The startup capital may not be used for general working capital. The startup capital may only be used for the purposes identified in the submitted Business Plan and will be paid directly to the vendor(s) providing the approved goods or services.

Submission Guidelines

Contestants will be required to complete and submit a written Business Plan for review by the evaluators. Business Plans must not exceed 20 pages. Any pages beyond the 20 page limit will not be considered. There is no required format for the Business Plans, but all Business Plans should include the following:

(1)  A narrative description of the business model demonstrating validation of a clear and compelling value proposition, product-customer fit, market opportunity, and marketing strategies as well as other key elements of the business model.

(2) A narrative description of the sustainability model showing measurable ways that business inputs, operations and outputs would contribute to conservation and sustainable use of local natural resources, keep business revenue within the local economy, and develop local business leadership and community self-determination.

(3) A preliminary 12-month cash flow projection and breakeven analysis, including a description of how the prize money would be used and a narrative of underlying assumptions.

Business Plans may be mailed to the Coast Works Competition Administrator, Center for Inclusive Entrepreneurship, 220 Second Avenue South, Suite 400, Seattle, WA 98104, or submitted by email to the Coast Works Competition Administrator at [email protected] as a single PDF document including the contestant’s name in the file name (example: contestantname.pdf) and including “Coast Works Competition” in the subject line. Business Plans must be received by the Coast Works Competition Administrator by the competition deadline in order to be considered for the competition. No late submission will be accepted.

Confidentiality

While the competition organizers and judges are bound by ethical considerations to keep information confidential, neither the organizers nor the judges will sign non-disclosure agreements with any of the participants as part of the competition process. The organizers reserve the right to use the following information about each business concept to publicize the competition:

•    The name of the applicant or contestant and the name and location of the business.

•    A brief description of the business idea (subject to confidentiality of proprietary information).

•    Any photographs taken during the competition.

Disclaimers

Participation in this competition gives applicants and contestants no guarantees, expressed or implied, to any awards or to any potential or future funding. Business Plans or Pitch Presentation recordings or any other materials submitted to the competition will not be returned. Applicants and contestants agree that the competition organizers are not liable for any direct or indirect damages, including any loss of revenue that may or may not be related to business advice received in conjunction with the competition. The competition organizers reserve the right to disqualify, in their sole and absolute discretion, any participant from the competition at any time (before or after a judging round or the award of any prize) for any reason. Reasons for disqualification may include, but are not limited to, plagiarism and any other form of dishonesty, misappropriation or infringement of the intellectual property of others, and any failure to comply with these rules and regulations. Disqualified participants shall forfeit all prizes awarded to them.

Changes to the Competition

The competition organizers reserve the right to amend or change Coast Works or any part of the competition or these rules and guidelines at any time for any reason.

Competition Administrator: Mike Skinner, Center for Inclusive Entrepreneurship at Pinchot University, 220 Second Avenue South, Suite 400, Seattle, WA 98104, [email protected], (206) 780-6228.