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Hofstra Digital Remedy Venture Challenge Frequently Asked Questions

Do I need to have a company to participate?
No, you do not need to have a company, just an idea.
Does my idea have to be in a particular business sector?
No.
Does everyone on my team have to be enrolled at Hofstra?
The team leader and 50% of the team must have been enrolled at Hofstra in the fall or spring semesters or both.
Can I have worked on the idea prior to the Competition or as a student project?
Yes.  You may enter this idea as long as it meets the specific requirements specified in the rules.
Who will organize the meetings with the entrepreneurs-in-residence?
The Center for Entrepreneurship will assist you in coordinating these meetings.
Who are the judges?
The judges will be announced prior to the competition.
What happens if a participant is disqualified?
If the team is disqualified prior to the competition, the Center for Entrepreneurship reserves the right to offer that spot to another applicant. If the team is disqualified at the competition the next highest scoring team will take its place. The team at all times must be 50% or Hofstra students.
Will Hofstra claim any intellectual property or equity in my idea?
No, Hofstra University releases all intellectual property rights to the student teams. Hofstra will not take any equity in the company.
What am I required to submit and when?
Students who advance to the final round will be required to submit a powerpoint or other electronic presentation and an executive summary of their business idea.
Is my application confidential?
Your application will be reviewed by the Center for Entrepreneurship, members of the administration and judges.
Can international students participate?
Yes.
Can graduate students participate?
Yes.
Is there a required major for eligibility?
No, there is no required major for eligibility.
Is there a limit on the number of students in my team?
Five students is ideal, but we will make exceptions. Please list the team members in your application. Please review the rules.
Do I need to build a prototype?
All you need is a business idea to enter. You can work on your prototype during the semester.
What type of mentorship will I receive?
You will receive mentorship from experienced entrepreneurs, investors, CEOs of companies, and faculty through brainstorming sessions, workshops, and pitch preparation sessions.
Can I apply if I already started a business?
Yes, if it meets the eligibility requirements.
Can non-Hofstra students participate in my team?
Yes, as long as the majority of the team is formed of Hofstra students and the team leader is a Hofstra student.
Can we participate in the Center for Entrepreneurship’s programs if we do not get accepted to Digital Remedy?
The Center for Entrepreneurship will be holding workshops on topics related to entrepreneurship and the will be open to any Hofstra student. You can also meet with an Entrepreneur-in-Residence. The schedule will be posted on the Center for Entrepreneurship’s website www.hofstra.edu/entrepreneurship.
What other kinds of aid will the Center for Entrepreneurship provide student entrepreneurs?
The Center for Entrepreneurship is an independent Center on campus that is a resource for all members of the Hofstra community interested in learning more about entrepreneurship and provides mentorship, networking, workshops, and a collaborative space to Hofstra’s students, faculty, and alumni. Visit www.hofstra.edu/entrepreneurship for more information.

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