The Dental Shark Tank Competition was created to provide an opportunity for current dental student entrepreneurs to present innovative ideas and proposals to a panel of expert judges, just like the popular TV show “Shark Tank.”
Prizes and Rewards: First place: $1,000 | Second place: $750 | Third place $500
- The competition is open to any active National Member of SNDA during the 2022-2023 academic year.
- Must be in attendance at the SNDA 51st National Convention in New Orleans, LA from July 20-23, 2023.
Submission format: Proposals should be submitted electronically via sndaonline.net/dental-shark-tank-competition/
- Each proposal should be no more than 1-2 pages in length and include the following components:
- Executive Summary: A concise overview of the idea or business concept.
- Problem Statement: Clearly define the problem or challenge the idea aims to address.
- Solution: Describe the innovative solution or product and how it addresses the problem.
- Market Analysis: Provide insights into the target market, potential customers, and competitive landscape.
- Revenue Model: Explain how the idea generates revenue or has the potential to be monetized.
- Team: Introduce the individuals involved in the proposal, highlighting their expertise and qualifications.
- Funding Request: Specify how the prize funds will be utilized upon winning first place ($1,000).
- Supporting Materials: Participants may include additional documents or visuals to support their proposal.
Deadline and Selection Process:
- Submissions must be received by Saturday, July 1, 2023 by 11:59pm EST.
- All proposals will be reviewed based on criteria such as innovation, feasibility, practicality, creativity, and presentation quality. Finalists will be notified no later than Saturday, July 8, 2023.
- Finalists will be required to present their proposals in person at the Dental Shark Tank event on Friday, July 21, 2023 at 4:30pm CST.
- At the Dental Shark Tank Event, a panel of expert judges will review all proposals, listen live to presentations and score based on the above criteria. (innovation, feasibility, practicality, creativity, and presentation quality.)
- Judges will individually score the presentations and proposals, then come together to determine a final ranking. The submission most highly ranked will effectively be the first place winner, followed by the runner up and second runner up.
- Winners will be announced at the SNDA Gala on Friday, July 22, 2023.
Finalist Presentation Guidelines: Dental Shark Tank event on Friday, July 21, 2023 at 4:30pm CST.
- Time limit: Each finalist will have 5 minutes to present their proposal, followed by a Q&A session with the judges.
- Visual aids: Finalists are encouraged to use visual aids such as slides, prototypes, or demonstrations to enhance their presentations.
- Professionalism: Remember the importance of professionalism, confidence, and effective communication during your presentation.