The competition will issue awards in a multi-phased approach matching key milestones.
Competition opens: October 26, 2017
Closing date for competition questions: November 27, 2017 at 14:00 EST
Responses posted: December 8, 2017
Phase 1 closing date: January 19, 2018 at 23:00 EST
Phase 1: Business Model Enhancement Plan Submission
Requires the submission of the solver’s Business Model Enhancement Plan (hereafter referred to as ‘business plan’) for the development and production of new children’s book titles. In this phase, up to five applicants will be awarded $12,000 and selected to move to Phase 2.
- Closing date: January 19, 2018 at 23:00 EST
- Finalists announced: Mid-February 2018
Phase 2: Virtual Presentations and Deliverable Timeline (Week of February 26)
The Phase 1 finalists will conduct a virtual presentation on the viability of their business plan to a panel of judges. Up to two finalists will be awarded $75,000 in seed funding to launch their innovative business model.
- Virtual demonstrations: Week of February 26 – March 2, 2018
- Finalists announced: Mid-March 2018
Phase 3: Business Model Enhancement Plan Implementation (March – September)
A subsequent payment of up to $75,000 will be awarded based on implementation deliverables and results. The date for payment distribution will be agreed upon based on the business plan.
- Business Model Enhancement deliverable timeline: Mid-March 2018
- Announcement of results: Late 2018