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Great Ideas Competition

BYU–Hawaii's Great Ideas Competition is a business idea competition as put on by the Willes Center for International Entrepreneurship. First, second, and third place winners are chosen from each of the four categories of the competition.

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The Four Categories of the Competition

Revenue

The revenue category looks explicitly at companies currently operating and who have produced over $1,000 in annual revenue. Businesses that generate $1,000 or more during the competition timeframe will also be placed in this category.

Pre-Revenue

Any idea or company that has produced less than $999 of revenue. This category focuses mainly on new ventures. The business can be a brand new idea or an existing company that has not generated sufficient revenue to be placed in the Revenue category.

Social Impact

Any social venture that values impact (societal, economic, or environmental) as part of its business model. Revenue is not a factor in this category. Therefore, both new ideas and existing companies will be competing together in this category.

Young Entrepreneur

Open to elementary, middle, and high school Hawaii students who want to create or have a business (revenue is not considered for qualification in this category). This category focuses on individuals under 18 years old who are not considered a full-time college student and have a unique business idea or business. This applicant can have a revenue, pre-revenue, or social impact approach and be either a new or an existing business. Young entrepreneurs applicants must have teacher sponsorship. This is a teacher who is aware of the student entering the competition and is willing to mentor him or her through the process. A teacher can sponsor more than one student.