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The nature of the Monash New Enterprise Challenge

The competition is divided into stages:

Stage 1

First, register your interest in participating in the challenge.

Next, create a team that has a realistic new enterprise opportunity. A special bulletin board, Create a Winning Team, allows you to register interest and assists you in finding team members who either have a brilliant idea or outstanding business skills (or both).

Once a team is formed, the team is required to register its intention to compete in the challenge.

Stage 2

Teams to submit an initial proposal outlining the essence of their proposed venture.

Third week in June - due date for submission of initial proposal.

Based on the information contained in the initial proposal, the Organising Committee will select a maximum of six teams to go forward in the competition.

Stage 3

The six finalist teams are provided with mentoring assistance and are required to attend a number of workshops designed to assist teams in preparing their business plans.

Mid October - Competing teams develop a business plan for their new venture and submit their plans (maximum of 20 pages) to the Organising Committee.

A panel of adjudicators comprising venture capitalists, entrepreneurs, CEOs and other business experts will now review each business plan.

Late October - The six finalist teams will compete against one another in a pitching event. Each team will be required to present their proposals to this panel of adjudicators at a ‘pitching event’. Each team will be allocated a maximum of 15 minutes for their presentation and this will be followed with a 20 minute question and answer session. The panel will then make a final judgement on the quality of the business plans and the presentations and announce the wining team and other placegetters.

The winning team will be selected to represent Monash University at the national John Heine Entrepreneurial Challenge hosted by Queensland University of Technology. This competition, formerly named MOOT CORP Australia, is conducted under the auspices of the global MOOT CORP competition.
Stage 4 The Monash University representative team competes in the national John Heine Entrepreneurial Challenge competition.
Stage 5 If the Monash team wins the national competition, then they will represent Australia in the MOOT CORP International competition hosted by the McCombs School of Business, University of Texas.