General Regulations

Chapter 1: General Provisions

Article 1: Purpose and Structure
The "Start up, Romania" Business Incubator is an entrepreneurial support initiative designed for students and young entrepreneurs to explore and develop innovative business ideas. It provides both physical and virtual spaces, offering comprehensive support, access to resources, and entrepreneurial expertise within an interdisciplinary framework. The Incubator operates in partnership with STUP and Banca Transilvania but does not have its own legal entity, functioning collaboratively with STUP's strategic partners.

Article 2: Location
The Incubator is located at STUP premises, Calea Șerban Vodă 206, Bucharest.

Article 3: Funding
The Incubator is funded through STUP’s resources, external private sector partnerships, grants, sponsorships, and other financial sources. A prize pool of €9,000 will be awarded in the pitch competition, with €4,000 for first place, €3,000 for second, and €2,000 for third. Other participants will receive resources, mentoring, and networking opportunities but not direct financial support.

Chapter 2: Mission, Objectives, and Activities

Article 4: Mission
The mission of the "Start up, Romania" Incubator is to create an environment that encourages innovative thinking and promotes a collaborative ecosystem. It aims to empower young entrepreneurs to transform their ideas into actionable business ventures, supporting the development of entrepreneurial skills and facilitating access to business resources.

Article 5: Objectives
Provide a conducive environment for the development and transformation of business ideas into viable projects.
Facilitate access to business resources, mentorship, and expertise from various fields for students and young entrepreneurs.
Promote interdisciplinary collaboration and enhance the commercialization potential of innovative solutions.
Establish strategic partnerships with companies and organizations to support the development of these ideas.

Article 6: Specific Activities
Workshops and Mentorship Sessions: Teams will participate in interactive workshops led by industry experts and bi-weekly mentoring sessions. Attendance at these sessions is mandatory to gain additional learning and guidance.
Networking and Events: The Incubator will host local and international networking sessions to foster connections among students, young entrepreneurs, and mentors.
Startup Development: The Incubator will provide support for business development, including financial planning, market strategy, and scaling efforts.
Participation in International Competitions: Teams will be supported in participating in global events and hackathons for international exposure.

Chapter 3: Registration

Article 7: Team Rules
Team size: Teams may consist of up to 5 members. who are currently enrolled in high school or university.
Participant eligibility: Participants must be currently enrolled in high school or university.
Team captain: Each team must appoint a captain responsible for all official communication and document submissions
Add / Remove members: Teams wishing to add or remove a new member must submit a request via email to contact@connecteens.org.

Article 8: Admission
Admission form: Each team must submit a business proposal form during registration, detailing their startup idea. 
Admission criteria: Each idea will be evaluated based on creativity, feasibility, and business potential. The top 15 teams, as determined by having the most points on the admission criteria, will move forward in the competition.
Submission Deadline: The business proposal form must be submitted by December 31, 2024, at 11:59 PM.

Chapter 4: Competition

Article 9: Competition Rules
Competition duration: The competition will last 10 weeks, with dates to be determined.
Weekly submissions: Teams are required to submit a mandatory task each week, posted on Google Classroom. Failure to submit on time may result in disqualification from certain activities.
Mentoring sessions: Every two weeks, a mentor will meet with each team to discuss their ideas and provide guidance. Teams must complete and submit assigned tasks at least 2 days prior to the mentoring session to avoid forfeiting that session.
Final Evaluation and Judging: On the final day, there will be a panel of five successful entrepreneurs judging each pitch.

Article 10: Final Evaluation and Judging
Judging Criteria: An independent jury of five successful entrepreneurs will evaluate each business based on the following criteria: feasibility, technical innovation, and profitability.
Prize Pool: The team with the highest score will receive €4,000, the second-place team will receive €3,000, and the third-place team will receive €2,000. These prizes are awarded as grants and do not require the formal establishment of a business post-competition.
Each participant from the top 15 teams will receive a diploma of participation, which will acknowledge the renowned mentors they engaged with and learned from.

Chapter 5: Final Provisions

Article 11: Amendments
All rules are subject to change during the competition. Any amendments will be communicated to the team captain via email.

Admission criteria

+5 points: Extremely clear, unique, and innovative idea that demonstrates a well-thought-out concept
+4 points: Clear and detailed; somewhat innovative
+3 points: Clear but basic idea; lacks uniqueness
+2 points: Some clarity, but limited detail or focus
+1 point: Vague or unclear; lacks structure

+5 points: Effectively addresses a significant problem with a clear understanding of market pain points
+4 points: Clearly addresses a relevant problem that affects a defined audience
+3 points: Problem is identified and somewhat relevant but not compelling
+2 points: Problem identified but lacks specificity or relevance
+1 point: Lacks a clear problem statement; may not address a real issue

+5 points: Clearly defined niche audience with specific needs; highly relevant to the business idea
+4 points: Well-defined audience with some targeting specificity
+3 points: Clear audience defined, though broad
+2 points: Some clarity, but lacks specificity
+1 point: Unclear or overly broad

+5 points: Well-defined, ambitious, and realistic goals that leverage program resources effectively
+4 points: Clear and ambitious goals that align with program offerings
+3 points: Goals are defined but may lack ambition or connection to program
+2 points: Some goals, but not well-defined or actionable
+1 point: Lacks specific goals or program intent

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