Decisions regarding the Competition and the Winners
All decisions regarding the competition rules, procedures, and processes are at the sole discretion of the Rollins Center and Miller Competition Series Management. Changes and/or interpretations of these rules may be made by the Rollins Center and MCS Management at any time, even though they may be (or may appear to be) in conflict with previously published information. The selection of the teams to compete and the decision of the winners are at the sole discretion of the judges and the Rollins Center and MCS Management. Best efforts will be made to make decisions in accordance with this Official Rules document
Purpose of the Competition
The express purpose of the Miller Competition Series (MCS) is to prepare students to launch scalable entrepreneurial ventures while simultaneously pursuing their degree program at Brigham Young University (BYU). In addition, the MCS serves as a starting point for student teams to participate in other student business plan competitions across the country.
A minimum of 20% of the competing company must be owned by current BYU (Provo) students.*
Student owners (BYU and non-BYU) must control a minimum of 51% of the company’s voting rights at the time of the competition. (MCS management recommends maintaining this control for at least two years beyond the date of the competition.)
As a student competition, the MCS competitions require that students fill the primary management roles of competing companies, to include the Presidency or CEO position of the venture.
No revenues should be received by competing companies prior to September 1, 2017. If teams feel their revenues were insignificant, please submit a formal petition to the MCS management. Note that this requirement is intended to help student teams meet the requirements of other business plan competitions, nationwide.
Companies who have received more than $100,000 of investment from friends, family, and business accelerators prior to the current academic year are not eligible to compete. Companies having received institutional investment are not eligible to compete.
Note: We do not encourage institutional investment prior to the competition cycle because this type of investment encourages scaling. Premature scaling can very easily lead to startup failure by violating the business modeling and validating process.
Teams may resubmit business plans that have been submitted in prior MCS competitions, as long as the teams comply with the other eligibility requirements. Finalists from the 2016-2017 competition cycle, however, are not eligible to compete with the same business. (This includes the Top 25 from Big Idea Pitch, Top 5 from BMC and Top 10 from NVC.)
Nature of Venture
Ventures cannot be a buyout, an expansion of an existing company, a real estate syndication, a tax shelter, a franchise, a licensing agreement for distribution in a different geographical area, or a spin-out from an existing corporation. Licensing technologies from universities or research labs is encouraged, assuming they have not been commercialized previously.
*Qualifying BYU students must be enrolled in at least 6 credit hours in at least one semester of the competition year. Online courses will only count toward the minimum credit requirement if they fulfill graduation and degree-specific requirements. Some competitions may have BYU-Idaho and/or BYU-Hawaii teams invited to participate. The same eligibility requirements apply to those teams, but in relation to their respective university.