KALO GRANTS

• Students may apply for grants of $500 or $1,000, depending on their stage of development.

• Applicants must complete the online registration form and consent to the confidentiality and participation agreements by the application deadline.

• Participants who submit an application for a $500 grant must describe Problem-Solution Fit in their entry. Applications will be reviewed by a student selection committee. Selected grant awardees will be notified and provided with details to receive the grant. Awardees must attend the Pitch Night event for that round to receive their funds.

• Participants who submit an application for a $1,000 grant must describe Problem-Solution Fit and demonstrate efforts toward Customer Validation in their entry. Applicants will be reviewed by a student selection committee. Selectees must pitch their idea at a live event. Awardees will be voted by a live audience.

TO APPLY FOR A $500 GRANT

Note: If selected, applicants are required to attend the live pitch event. Applicants for the $500 grant do not pitch.

Upload a PDF. Other formats will not be accepted.

• Idea Summary not more than 4 pages, including cover sheet.

• A cover sheet should include Business Name and Names of all team members, if any.

• File must be no more than 2 MB in size.

• Summary font size no smaller than 12 pt.

• Document margins at least 1 inch on all sides.

Summary should be written in narrative form.

• OPENING: Start with a compelling description of your product or service. What was the inspiration for the business or how did you come up with the idea?

• VALUE PROPOSITION: Describe the problem the business solves. What does the business do to solve the problem? What makes the business’s solution attractive to its customers?

• MARKET OPPORTUNITY: Describe the existing market. Explain how the company fits into the market and the company’s ability to capture part or all of the market.

• CUSTOMER DISCOVERY AND SEGMENTS: Describe the business’s customer(s) and how the business will discover customers.

Optional: In addition to the summary, you may submit a video to the review committee.

• Video must be no longer than 2 minutes.

• Video must incorporate verbal explanation (not just subtitles).

• A link to your video should be uploaded in the online application form.

TO APPLY FOR A $1,000 GRANT

Note: If selected, applicants are required to pitch at a live event.

Upload a PDF. Other formats will not be accepted.

• Business Summary not more than 6 pages, including cover sheet.

• A cover sheet should include Business Name and Names of all team members, if any.

• File must be no more than 2 MB in size.

• Summary font size no smaller than 12 pt.

• Document margins at least 1 inch on all sides.

Summary should be written in narrative form.

• OPENING: Start with a compelling description of your product or service. What was the inspiration for the business or how did you come up with the idea?

• VALUE PROPOSITION: Describe the problem the business solves. What does the business do to solve the problem? What makes the business’s solution attractive to its customers?

• MARKET OPPORTUNITY: Describe the existing market. Explain how the company fits into the market and the company’s ability to capture part or all of the market.

• CUSTOMER DISCOVERY AND SEGMENTS: Describe the business’s customer(s) and how the business will discover customers.

• PRODUCT MARKET FIT: Describe how the business knows that it has successfully identified the target market for its product or service. Describe insights gained from customer validation activities (ex: interviews). Would customers pay for the business’s product or service to meet their needs?

• COMPETITIVE ADVANTAGE: Describe the company’s competitors and what sets the company apart from the competition. What is the company’s timeline for reaching the market? Explain factors that provide the company a competitive advantage. Examples of factors could include market volatility (ex: local, national or global events), intellectual property that the company is developing (ex: new technology, trade secrets, etc.).

Optional: In addition to the summary, you may submit a video to the review committee.

• Video must be no longer than 2 minutes.

• Video must incorporate verbal explanation (not just subtitles).

• A link to your video should be uploaded in the online application form.

LIVE PITCH EVENT RULES

• Finalists will give a pitch of their business idea to a live audience.

• All members who were included in the application must be present for the final pitch.

• The audience will follow with questions after each pitch.

• Awardees will be selected based on audience votes. Votes will be tallied at the end of all pitches, and grant awardees will be announced at the end of the program.

If selected in the $1,000 grant category, applicants are required to pitch at a live event.

• Selectees will give a pitch of their business idea to a live audience. All members who were included in the application must be present for the final pitch. If there are non-UH students on the team, the UH students must present a majority of the pitch.

• Each presenter will do a pitch (maximum of 10 minutes). Presenters must use slides. Other visual aids or props should be approved by the program organizers in advance.

• Presenters much provide their slides in advance to the program organizers.

• The audience will follow with up to 5 minutes of questions after each pitch.

• Awardees will be selected based on audience votes. Votes will be tallied at the end of all pitches, and grant awardees will be announced at the end of the program. Voting forms will include Judging Criteria that is listed on the website.

$500 GRANT JUDGING CRITERIA

The review committee will consider the following:

1. Is the product or service clearly described with passion?

2. Is the problem clearly defined? Does the team articulate the problem with a deep understanding of its nuances and the people or organizations affected by it?

3. Does the solution directly address the problem?

4. Is the solution feasible? How realistic is the solution in terms of implementation, resources, and technology?

5. Does the team demonstrate strong understanding of the product or service’s value that it offers its customers.

6. Has the team identified the right audience? Do they have a well-defined target market that experiences this problem? Does the solution stand out from existing alternatives?

7. Has the team given a strong, logical justification for their funding request, including how the funds will be allocated and the specific goals they intend to reach?

$1,000 GRANT JUDGING CRITERIA

The review committee will consider the following:

1. Is the product or service clearly described with passion?

2. Is the problem clearly defined? Does the team articulate the problem with a deep understanding of its nuances and the people or organizations affected by it?

3. Does the solution directly address the problem?

4. Is the solution feasible? How realistic is the solution in terms of implementation, resources, and technology?

5. Does the team demonstrate strong understanding of the product or service’s value that it offers its customers.

6. Has the team identified the right audience? Do they have a well-defined target market that experiences this problem? Does the solution stand out from existing alternatives?

7. Is there evidence of customer pain points? Have they validated the pain points or challenges through customer interviews, surveys, or market research?

8. Has the team validated their solution? Has the team conducted initial tests, prototypes, or trials to demonstrate the potential success of their solution?

9. Is there evidence that the product or service is something customers would pay for?

10. Has the team given a strong, logical justification for their funding request, including how the funds will be allocated and the specific goals they intend to reach?

LIVE PITCH JUDGING CRITERIA

The review committee will consider the following:

• PRESENTATION QUALITY: Did the pitch grab your attention? Was the pitch clearly articulated?

• CONTENT: Did the pitch clearly define the problem-solution fit? Did the pitch clearly define the market opportunity and competitive landscape? Did the pitch highlight efforts toward customer validation? Did the pitch demonstrate a strong understanding of their customer segments?

• OVERALL IMPRESSION: Did the applicant express passion? Did the applicant demonstrate credibility? After hearing the pitch, what is your level of confidence in the success of the venture? Did you have more questions than answers after the pitch?

• The University of Hawai‘i Honor Code applies to all participants of any PACE activity. While every effort will be made to preserve the confidentiality of each submission, it is suggested that highly sensitive material be excluded from the entry if a team is concerned about the confidentiality of such material. Note, however, that teams will be making final presentations to an open audience. Of course, technical drawings and formulae need not be shown at this presentation, or even included in the pitch.

• The University of Hawai‘i and the organizers of the program cannot take further responsibility to protect the intellectual property or other rights of the applicants. Protection of such rights is ultimately the responsibility of each applicant. Applicants are urged to mark as “CONFIDENTIAL” any portion of their entries, which they consider to be confidential. The organizers, reviewers, and other affiliates of the program will NOT enter into non-disclosure agreements with applicants.

• All competitors agree to allow the University of Hawaii and the Pacific Asian Center for Entrepreneurship to record all public sessions. Entrants understand that recordings may be copied and distributed for the purpose of marketing the competition in future years.

• Each person who is included in the application must be an active participant in the live pitch event or risk forfeiture of grant awarding.

• Grants will be disbursed in accordance with university policies.

• All federal and state taxes are the responsibility of the awardees.