13D Student Entrepreneurship Competition

 

13D Milestone Funding Initiative

Purpose and Vision: Empowering Future Entrepreneurs through Financial Support

The 13D Milestone Funding Initiative is a transformative program designed to foster innovation and entrepreneurship at the University of the Virgin Islands (UVI). Departing from traditional competition-based models, this initiative directly empowers student entrepreneurs and selectively supports local entrepreneurs by providing essential financial resources. These funds are allocated to help participants achieve specific, measurable milestones, accelerating their ventures and fostering success in a dynamic business environment.

Program Overview: Evolution and Impact

The 13D Milestone Funding Initiative represents the next phase in UVI's commitment to cultivating entrepreneurial talent. Building on the foundation of the original 13D Competition, which successfully identified and rewarded promising entrepreneurs, this refined model introduces a milestone-based approach.

This evolution ensures funding is strategically aligned with the achievement of clear, impactful milestones, reflecting meaningful progress and entrepreneurial potential. By providing milestone-driven support, the initiative enhances the effectiveness of financial backing, equipping participants with the resources they need to advance their ventures and develop their entrepreneurial skills.

Objective

The 13D Milestone Funding Initiative empowers UVI students to advance their startups or existing businesses through critical development stages. By offering targeted support, the program enables entrepreneurs to:

  • Launch innovative solutions.
  • Scale operations effectively.
  • Achieve sustainability and long-term growth.

Milestone Definition

Milestones represent pivotal achievements marking a venture’s progression toward its broader goals. These may include:

  • Product development.
  • Market validation.
  • Securing strategic partnerships.
  • Achieving financial sustainability.

Criteria for Participation

Participants must present ventures that demonstrate readiness to achieve the next significant milestone. Criteria vary based on whether the venture is a startup or an existing business, focusing on:

  • Market validation.
  • Operational viability.
  • Innovation and scalability.

Detailed criteria are outlined to guide applicants in preparing their pitches.

Eligibility and Requirements

  1. For UVI Students:
  2. Open to all currently enrolled UVI students.
  3. Students may apply in any of the seven categories provided.
  4. Applicants must have completed ENT 205 and be enrolled in the Certificate in Entrepreneurship program, which includes ENT 205, ENT 300, and ENT 301.

Funding and Awards

  • A total funding pool of $40,000 is allocated exclusively for UVI students.
  • Awards are based on the merit of the proposed milestones, as outlined in each category’s specific criteria (available in a separate document).
  • Funds may only be used for expenses directly related to achieving the proposed milestones. They cannot be applied to debt repayment, payroll, or personal expenditures.
  • Judges retain the right to withhold funding if proposals fail to meet established criteria.

Support and Resources

Participants have access to a comprehensive range of support services, including:

  • RTPark
  • Assistance in reviewing PowerPoint presentations.
  • Feedback on financial models and scalability aspects of the venture.
  • Contact: Alfonson Rodriguez: alfonso.rodriguez@uvirtpark.net
  • Small Business Development Center (SBDC)
  • Guidance on improving business strategy and operational plans.
  • Detailed feedback on pitch delivery and presentation clarity.
  • Contact: John Morosco: john.morosco@uvi.edu.
  • Entrepreneurship Studies
  • Expert feedback on innovative strategies and aligning presentations with entrepreneurial principles.
  • Help refining key milestones and ensuring alignment with funding goals.
  • Contact: Nelson Pizarro: nelson.pizarro@uvi.edu.
  • Experienced Mentors
  • Personalized coaching on presentation style, narrative flow, and overall impact.
  • Assistance with identifying and addressing potential gaps in the proposal.
  • Contact: Nelson Pizarro: nelson.pizarro@uvi.edu.

These resources are available to review your PowerPoint presentations, provide feedback on any or all aspects of your submission, and help refine your pitch for maximum impact.

Application Process and Timeline

The 13D Milestone Funding Initiative takes place annually during the fall semester. Detailed participation criteria, application guidelines, and submission deadlines will be updated annually, with 2025 dates announced at the start of the year.

A New Paradigm: Strategic Support for Entrepreneurs

This initiative marks a transformative shift toward a more strategic and impactful support model for entrepreneurship in the U.S. Virgin Islands. By emphasizing milestone achievements, the 13D Milestone Funding Initiative ensures that funding directly drives tangible progress, fosters meaningful development, and contributes to long-term success for entrepreneurs.

General Information
For inquiries or additional support, please contact:
Dr. Nelson Pizarro
Email: nelson.pizarro@uvi.edu
Phone: 340-693-1310