NOTE: These are the general details and FAQ's for all contests. For specific details about a currently running contest, see the "Overview" and "FAQ" section for that specific contest under the "Current Contests" menu link

Overview:

The "Concept to Company" competitions are ongoing innovation contests held in various regions across the state of Utah. The main objectives of the contests are to encourage and support Utah's entrepreneurial innovators with the intent of helping them turn their concepts into a company. Each competition focuses on the unique entrepreneurial strengths of that particular region.

The contests are organized and hosted by Grow Utah Ventures and Zions Bank. The premier sponsors of each contest are USTAR, Workman Nydegger, CFO Solutions and Ballard Spahr. Other local businesses may also provide sponsorship services for contests in that region.

To enter, go to the “Current Contests” section and pick a contest. After reading through the FAQ's and contest rules to make sure you're eligible, download, complete, and submit your entry form by the deadline. All entries will then be reviewed and a group of finalists will be chosen and invited to present their innovations to a panel of judges. The panel will consist of senior executives and experts from the industry associated with each particular contest. Judges will choose the winners and the prizes will be awarded at the final judging event.


Timeline:

NOTE: The specific timeline for each contest can be found under the “Current Contests” section. This is only a general timeline of events.

Entry Submission: Applications will generally be accepted during a two month timeframe starting from the contest kickoff date.

Initial Screening: The initial screening will take place immediately after the entry submission deadline. It will commence for about a week.

Finalists Chosen: After the initial screening, a group of finalists will be chosen to present their innovations to a panel of judges. The finalists will be notified and given details regarding their final presentation. Those who are not chosen as finalists will also be sent an e-mail indicating such.

Finalists Presentations: Approximately 2 weeks after the finalists are chosen, they will present their innovations to a panel of judges at the final judging event. Presentations will be given throughout the day and the judges will ask questions and rank the innovations. After the last presentation, the judges will meet and select the three prize winners.

Award Presentation: The winners will be announced and awards given at the end of the day of judging.


Location:

The initial screening and final judging event will take place in the region that is hosting the contest. Please see the “Current Contests” section for details on the individual contests.

Frequently Asked Questions

What is the Concept to Company Competition?

The "Concept to Company" competition is an ongoing innovation contest held in the various regions across the state of Utah. The main objective of the contest is to encourage and support Utah's entrepreneurial innovators with the intent of helping them turn their concepts into a company. Competitions are held in all regions of the state with each competition focusing on the unique entrepreneurial strengths of that region.


Who can participate?

The general eligibility requirements are as follows:
The competition is open to all legal residents of Utah 18 years of age and over who are located in the State at the time of entry. This includes any existing small business with a primary business location in Utah having annual revenues of less than $5 million (for a product not yet taken to market). Entries must be for a legitimate invention or business that may be lawfully operated in the United States. (For all eligibility requirements, please see the "Rules" under each individual “Current Contest”)


What does the winner receive?

The winning entry will receive an award up to $35,000 comprised of cash and professional services to help bring the idea to fruition. Additionally, two runners-up will receive awards up to $17,000 each comprised of cash and services. (Note: this amount may vary slightly per individual contest. Please see the “FAQ” section of each “Current Contests” for actual award amount.)


Why should people submit their ideas and inventions?

We believe in the creativity of Utah's entrepreneurs and inventors. And yet we also know that sometimes people just need to be encouraged to step forward. This contest is all about giving you a good reason to share your best ideas. Not only will we recognize the winners, but we will celebrate all those that come forward.


How do you submit an idea or invention to the contest?

Submitting your invention and innovation is simple. The application is a web based form found under the "Entry Form & Rules" section of this site. You simply need to go to that section of the website and complete the form. The fields with asterisks are required.


How do I know you received my entry?

You will get an email response back from us stating that we have received your entry. If you do not hear back, then we did not receive it. If you have any problems, email us at info@concepttocompany.org or call 801.593.2269 and we'll help you out.


Can I submit more than one idea?

Yes. You may enter the Contest as many times as you would like, provided each Entry submitted is unique and separate. However, there is a limit of one (1) prize per person, household and/or email address.


How Do I Keep My Idea Safe?

We believe that all involved are trustworthy individuals who are volunteering their time just to help you move your idea and invention along. Many previous entrants have formed critical business relationships with the industry judges and their respective companies. These relationships have furthered their business in ways that never would have happened otherwise.

With that said, this event is a public event being sponsored by state and regional entities. Many media outlets will be involved and will likely cover the final competition including the winners and their ideas. For some entrants, publicly sharing their ideas may be a concern. To minimize this concern we encourage all entrants to give as much detail as possible without giving us the “secret formula”. We don’t necessarily need the schematics and details of the core technology to know if it’s a good idea. If we need more information we will contact you to discuss it further.

Although we will try to eliminate as much concern as possible, there is no way to fully eliminate all concern for a public contest like this. If you are unsure about what or what not to disclose, we advise you to seek good legal counsel before proceeding.


When will I hear back?

Generally, you should hear back about 1-2 weeks after the submission deadline as to whether or not you are a finalist. This correspondence will be sent via email- we will not call you.


What does it mean to be a finalist?

If you are chosen as finalist, it means that the judging committee feels your innovation has the real potential to generate business. It also means that the judges want to hear more about your idea in person. All finalists will be required to present their innovation and business plan in person to the judging panel. If you are a chosen finalist, we will contact you with more details regarding your presentation.


Who can attend the finalist presentations?

Friends and family may attend the final judging event and the award ceremony which will be held later that afternoon.


If I'm a finalist who pays for my travel expenses?

As a finalist, you will be responsible for all your travel expenses to and from the event. This includes all lodging and meals.


How is the winner decided?

All entries will be reviewed by contest staff. The finalists entries will be reviewed by a panel of senior industry executives and experts. Because the judges are experienced business owners and know how to take products to market, they will be looking for plans that adequately address the needs of the customer. Certain eligibility requirements and other contest rules will also apply. See the "Rules" under each individual contest for more details.


When will the winner be decided?

After the submission deadline, each entry will be reviewed by the contest staff and the panel of judges. The finalists will then be invited to make a personal presentation to the judge's panel. The winners will be announced later that day at the end of judging.


Who are the judges?

The judges' panel consists of very influential leaders and experts from successful Utah businesses within the industry. They share your passion for fun, excitement and creativity in running a small business and you'll enjoy just meeting them.


Who are the main sponsors and why are they hosting this contest?

The main sponsors are Grow Utah Ventures, Zions Bank, USTAR, Workman Nydegger, CFO Solutions and Ballard Spahr. They all have a common passion for supporting Utah's entrepreneurs and inventors and growing Utah’s industry clusters. These sponsors will be covering the costs of the contest as well as offering up the prize money and services.