BizQuest @ USQ aims to foster entrepreneurial activities among USQ students by giving them the opportunity to take their bright ideas and develop them to produce new, innovative companies and ventures. The competition offers a great learning experience, opportunities to link with other students and commercial entrepreneurs and prize money to help develop an idea into a business.

It is designed for individuals or teams of two to four people to develop an idea into a well-constructed business plan, and is open to all USQ students - undergraduate and postgraduate.  Both on-campus and distance education students are invited to enter.  An Australian resident USQ student needs to lead all entries.

Winners in 2005 will take home over $3,000 in cash and prizes to assist in transforming their ideas into a reality. Your idea could be the next big business in Australia.

The BizQuest @ USQ questionnaire will be scored by the competition organisers.  A number of entrants will then be invited to submit a detailed business plan.

The detailed business plans will be assessed by a panel of judges, each of whom is required to sign a confidentiality agreement (see sample).

Selected finalists (up to six) will be invited to submit a video presentation (up to fifteen minutes), which will be aimed at selling their business plans to the judging panel and will also address any specific issues advised by the judges.

Winners will be announced on 7 December, 2005.

See Entry Guidelines for further information.

Prizes - Cash prizes to help you start your business

Winner - $1,500

Second - $1000

Third - $500

Engineers Australia prize for most technologically innovative entry - $200 (sponsored by the Toowoomba Local Group of Engineers Australia)

Seminars and Events
On-campus students will be able to attend a workshop on developing a business plan.  The slides and main points from this workshop will also be posted on the competition website.

Other resources will be made available on the competition website.

Mentors
The competition organisers  will endeavour to provide a suitable mentor for those teams invited to submit a business plan.

Eligibility
All currently enrolled students of USQ.

Individuals or teams of up to four people may enter.  All entries are to have an Australian resident USQ as team leader.

Details of prospective members will be posted on the competition website.  Entrants can use this information to join, form, or enhance teams.

The judging panel of the Business Plan Competition reserves the right to disqualify any entry that in its judgement violates the letter or spirit of the Competition. See Agreement of Participation document.

Persons not eligible to enter the competition
Current USQ staff members associated with the organisation or management of the competition; other persons, at the discretion of USQ.

Intellectual Property Protection
Intellectual property rights are an extremely important issue for all Competition participants. Concepts, ideas and inventions must be protected in order to develop and maintain competitive advantages in the marketplace. There are four main avenues that can be pursued by the entrepreneur to protect intellectual property. These include copyrights, trademarks, trade secrets and patents.

USQ (the principal sponsor and organiser of the USQ BizQuest), has taken reasonable measures to assure that all contestants retain their rights to their business plans and any associated intellectual property.

Organisers, judges and mentors sign confidentiality agreements which extend for six months after the public announcement of the winners of the 2005 Competition. Copies of these confidentiality agreements will be available from the organisers and a Sample Confidentiality Agreement can be provided on request. The Competition can not and will not take further responsibility to protect the intellectual property or other rights of the contestants.

The protection of these rights is the ultimate responsibility of each contestant. Contestants are urged to mark as "CONFIDENTIAL" any portion of their Entries which they consider to be confidential. Contestants should be careful about disclosing any patentable concepts in their Entries given that in Australia, patent applications must be lodged prior to any public disclosure.

Contestants concerned about the protection of their intellectual property should contact the BizQuest @ USQ competition organisers at bizquest@usq.edu.au and/or visit www.ipaustralia.gov.au.

Further Information
The competition organisers will communicate with entrants via email. Any updates to competition information will be posted on the competition website, which entrants are advised to regularly view.