EUREKA! Rules and Regulations
Eligibility and Funding Rules
The main goal of this competition series is to provide resources and funding to current graduate and undergraduate students in good standing, in degree-seeking programs, at Lehigh University, who both originate and lead the startup idea.
The EUREKA! Ventures Competition Series is an educational experience and applicants not working toward this end (i.e. an existing company that recruits students in order to be eligible for the competition,) will not be eligible to compete. The EUREKA! Selection Committee reserves the right to review applicants and make eligibility decisions on a case by case basis. Teams that are unsure of their eligibility should contact the EUREKA! Director at the email address below. Competitors who submit proposals with ideas/projects/startups that include illegal, illicit, unethical, immoral, or other types of activities deemed by the Selection Committee as unworthy of association with the
EUREKA! VenturesCompetitions Series or Lehigh University, may be disqualified.
Students proposing startup projects that have been EUREKA! winners in previous years will be asked to describe how they have leveraged the previously awarded resources, how the startup project has progressed as a result and how additional resources will be used to help take them to a new level. When startup projects are continuing but have taken on new team members, changed their business model or
core product, they are still considered previous winners.
If a project/venture has team members who are not eligible Lehigh students, the project team will be required to disclose the equity position held by all team members. Even if a non-Lehigh student holds an equity position, non-Lehigh team members will not have access to any funding.
Any funds awarded will be subject to taxation and are the sole responsibility of the individual eligible student team member who receives the award. Each individual will be required to provide a W-9 before any funds are used by the team. Foreign students may have a different set of guidelines and requirements and should contact the Office of International Students & Scholars to discuss exact requirements. All teams are eligible for only one award from the EUREKA! Ventures Competition Series. Individual eligible students may be members of more than one team startup project proposal but may not hold a majority equity stake in more than one.
Funding and non-cash prizes will not be made available until all requirements are met.
The requirements will include, but are not limited to:
Student Acknowledgement Agreement and Release
Intellectual Property Agreement
Questions about any aspect of the EUREKA! Ventures Competition Series and its individual competitions
should be addressed to the Director at firstname.lastname@example.org
Confidentiality and Intellectual Property
The staff and faculty of the Baker Institute and the EUREKA! Ventures Competition Series, as well as the volunteers who may assist in the review and selection process, are working professionals who routinely mentor, coach and evaluate startup business ideas and new products. As part of their professional ethos, they understand that those ideas and innovations are confidential. However, they do not sign any non-disclosure agreements to participate in the EUREKA! Ventures Competition Series. Student entrepreneurs applying to EUREKA! will be submitting information in writing as well as giving live pitches in a public forum. Applicants are strongly discouraged from providing the details or specifics that are considered to be the key to their Intellectual Property (IP,) unless that Intellectual Property is legally protected. During the live pitch session the judges will ask clarifying questions. If you are unable to fully answer a question because of IP concerns there will be no penalty however, judges may wish to talk with you after the session to determine whether your project will be awarded.
Conflict of Interest
No reviewer, member of the selection committee, volunteer, or competition staff member may have any vested interest, equity stake, or financial stake in any of the companies/team projects proposed. Any party that stands to gain financially or otherwise from the success of a company/team project submitted to the EUREKA! Ventures Competition Series is strictly prohibited from those above listed roles.
Progress Summary One-pager
If you are awarded a cash prize over $500 you may be required to submit a brief report summarizing your progress and outcomes. Reports will be due to email@example.com upon the termination or completion of your project, your graduation,
other separation from the university, or upon specific request by the Baker Institute.
The report may vary between competitions and will include, but is not limited to, the following:
Three high-quality photos representative of your project.
Answers to the following three questions:
What inspired you to create this project idea?
What was the most important thing you learned from your experience?
What are the outcomes of your experience and how did they impact you?
Did the project proceed as expected?
Did the results match your expectations?