Rafael Munguia Business Plan Competition
This is a competition challenges teams with the task of creating a business plan and concept pitch video for a chance to win seed money with which to launch their businesses.
Have a business plan in your back pocket?
Willing to create one for a chance to win $5,000?
Applications for the 2023 Rafael Munguia Business Plan Competition are due February 17!
The Rio Grande Valley community at large is welcome to apply, including but not limited to all UTRGV students, faculty, staff, and alumni. Winners will be determined by a pool of judges comprised of experienced entrepreneurs and business professionals.
Student Category Prizes:
- 1st Place Winner: $5,000
- 2nd Place Winner: $3,500
- 3rd Place Winner: $1,500
General Category Prizes:
- 1st Place Winner: $5,000
- 2nd Place Winner: $3,500
- 3rd Place Winner: $1,500
Team Eligibility Criteria - There are two categories of competition, one solely for teams made up of UTRGV students
UTRGV Student Category Criteria
- Team must only consist of currently enrolled full-time UTRGV undergraduate, graduate, or resident students, with a four-member team limit.
- Only one UTRGV student may be the spokesperson in the 60-second video.
- Up to two UTRGV students may deliver the pitch presentation.
- Team cannot include any UTRGV faculty, staff, alumni, or community members.
- All team members must reside in the Rio Grande Valley and must plan to open their business in the RGV.
General Category Criteria
- Team may not include any full-time UTRGV students (it may consist of UTRGV faculty, staff, alumni, part-time students, or members of the Rio Grande Valley community), with an overall four-member team limit.
- Only one individual may be the spokesperson in the 60-second video.
- Up to two team members may deliver the pitch presentation.
- All team members must reside in the Rio Grande Valley and must plan to open their business in the RGV.
Requirements for the Business Idea:
- Generally excluded are the following: buy-outs, expansions of existing companies, real estate syndications, tax shelters, franchises, licensing agreements for distribution in a different geographical area, and spinouts from existing corporations. Licensing technologies from universities or research labs are allowed, assuming they have not been commercialized previously.
- Business ideas can be drawn from any business or industry sector.
- Business ideas may be for either for-profit or non-profit ventures.
- The Rio Grande Valley must be where the business is intended to be based.
LEARN MORE & APPLY TODAY!
Testimonials
"The Rafael Munguia Business Plan Competition was well-organized and allowed us to have access to a great set of mentors that helped us along the way. We here at Embedded are happy that we were able to secure $5,000 in funding from this pitch and we are excited to begin the development of our prototype with the funding. Finally, we'd like to thank Expanding Frontiers for all the help that they have provided us through mentors, lab space, and many other resources to help us move forward with our startup."
- William Brown, UTRGV Student & Embedded Co-Founder
2022 Business Plan Competition - 1st Place Winner (Student Category)
"This competition helped us get a business plan with financials developed to help us understand the amount of money needed to be raised to have a successful business. In addition, it helped us fine tune our pitch deck and learn how to tell our story. We have utilized the prize money won to advance the development of our prototype product."
Hector Valdez, Aetherworks Founder
2022 Business Plan Competition - 2nd Place Winner (General Category)
"Sweet Pea helps individuals undergoing fertility treatment and adoption explore and connect with financing options. With Sweet Pea's support and guidance, those desiring to build their families can decrease their financial stress and focus on their journey. As a participant in the Ralph Munguia Business Plan Competition, I had the mentoring to thoughtfully develop Sweet Pea's strategies and tactics to move our vision forward. The prize money enabled us to engage growth consultants, extending our outreach and visibility. In addition, we expanded our financial services offerings giving many families hope to move closer to their family building dreams."
LaKesha J. Brooks, Sweet Pea Solutions Founder & CEO
2022 Business Plan Competition - 1st Place Winner (General Category)