The Diamond Challenge is a premier entrepreneurial education competition.
Participants learn how to conceive and test new ideas for businesses and social enterprises.
View our video to learn more!
Three reasons to participate,
learn more above.
The Diamond Challenge offers an impactful, hands-on learning experience. Participants utilize a repeatable process for generating new ideas and building a business like a scientist. Working through this process develops participants’ creative, problem solving, and communication skills.
Entrepreneurial knowledge and skills can be used to start your own business, help established companies to innovate, and develop sustainable solutions to important social problems.
Connections provide advice, access to customers, employment opportunities, and more. As part of the process of developing a business idea, participants will make many new connections to get feedback on their ideas.
Participation is as easy as 1, 2, 3
Participation in the Diamond Challenge begins with FREE registration. Each team must have 2-4 student members and a teacher who is willing to advise them. Registration closes November 7, 2014.
Follow a custom curriculum based on the emerging science of entrepreneurship. It consists of 12 short videos, which guide you through the process of developing a new business concept.
Compete to Win
Teams prepare and submit a 3-5 page business concept and pitch their ideas to a panel of entrepreneurs and business leaders. Top teams earn a share of the $25,000 prize pool.
The Diamond Challenge is a real world business concept competition with an educational purpose. Participating students will work in teams of 2-4 to prepare and submit a written concept for a business or social enterprise. They will also prepare and deliver a 5-minute pitch and answer questions about their concept.
Panels of entrepreneurs and business executives will evaluate written submissions, pitches, and responses to questions in two rounds – a Preliminary Round and a Final Round. Preliminary Round sites have been selected in both Delaware and Maryland and 3 international locations, Kenya, Moldova and Tunisia. Top teams will advance to the Final Round at the Youth Entrepreneurship Summit to compete for funding that can be used to launch their proposed business or pursue higher education.
The Diamond Challenge was developed by a broad coalition of partners to provide high school students with an outstanding opportunity to explore entrepreneurship as a viable career path and help them acquire valuable knowledge and skills.
From September -November 2015, student teams can register to compete in the Business Concept and Social Innovation competitions
All registration is on a first come, first served basis and may vary depending on your regional pitch sites. All registration will close by November 30, 2015.
Business Concept Track:
- Written Concepts
- Video Pitches (Virtual track ONLY)
Social Innovation Track
- Written Concepts
- Video Pitches
Preliminary Round & Pitch Events
The Diamond Challenge 2016 planning is underway and we have some exciting updates in store; preliminary round-specific event dates will become available on the country pages by September, 2015. The general competition timeline is as follows:
- Global Preliminary Rounds for Business Concept Competition January-March, 2016
- Social Innovation track finalists announced (6-9 teams) February 1, 2016
- Social Innovation track winners announced February 28, 2016
- Business Concept virtual track finalists announced (2 teams) February 28, 2016
The Final Round of the Diamond Challenge will be hosted by the University of Delaware Horn Program in Entrepreneurship as a part of the second annual Youth Entrepreneurship Summit (YES!). The event will be held at Clayton Hall in Newark, DE.
Prizes & Rules
Teams earning top prizes will have two options for receiving their awards: (1) as scholarship funding for higher education at any college or university, or (2) as seed funding to pursue their business idea.
Teams that pursue their ideas may also receive additional in-kind services (legal, accounting, incorporation, etc.).
The first place team will share a total award of $7,500. The team’s school and sponsoring teacher will also receive a contribution of $1,000 to fund entrepreneurial education initiatives at their school.
The second place team will share a total award of $5,000. The team’s school and sponsoring teacher will also receive a contribution of $750 to fund entrepreneurial education initiatives at their school.
The third place team will share a total award of $2,500. The team’s school and sponsoring teacher will also receive a contribution of $500 to fund entrepreneurial education initiatives at their school.
Social Impact Prize
Teams can choose to have their concepts considered for the Social Impact Prize, If they feel their team’s business concept promises to improve the social and economic wellbeing of people and their communities. Finalists in this category are awarded $500 and invited to participate in an online contest for a top overall prize of $2,500 and recognition at the Youth Entrepreneurship Summit on April 30, 2015.
Each team selected to compete in the final round of the Diamond Challenge will earn $500.
The curriculum for the Diamond Challenge has been designed to guide participants’ development of business concepts. It consists of a series of 12 brief videos less than 10 minutes each.
Each video is accompanied by a 1-page instructional guide that includes discussion questions, links to additional resources, and possible assignments. Click through titles in right column to review each.
This session addresses two general questions: what is entrepreneurship and what does it mean to be an entrepreneur?
This session highlights the idea that opportunities are everywhere and discusses how we can learn to recognize them and begin to think like an entrepreneur.
This session dispels the myth that some people just aren’t creative and discusses how to generate new ideas.
This supplemental video on creative thinking and idea generation includes the 100 uses of a drinking straw challenge.
This session discusses six different types of entrepreneurial businesses and the goals and characteristics associated with each type.
This session introduces the basic idea of starting with hypotheses about the customer, problem, and solution and gathering evidence to test these hypotheses.
This session introduces the notion that a business can be decomposed into basic parts and built one piece at a time.
This session focuses on the second basic building block of a business – the problem to which the customer must have a solution.
This session focuses on the importance of offering a solution with unique and desirable advantages relative to competitors’ product offerings.
This session addresses the fundamental concepts of unit cost, unit revenue, and unit margin to illustrate how businesses make money.
Each team will have the opportunity to meet virtually with one mentor – a seasoned entrepreneur that will help you prepare for your presentation. Each mentoring session will last 20 minutes and will be facilitated through Skype. Read more below about our previous mentors.
Founder, ONMSG & World State
As a high school student, Patrick and his friend and business partner Luke Baumann founded ONMSG, a brand management company that specializes in social media targeted at young adults. Currently Patrick works in a start-up accelerator in Portland, Oregon where he has a co-working space with Upworthy and Wordpress while finishing school work online.
Entrepreneurship Student, University of Delaware
Zachary Jones is a Sophomore at the University of Delaware studying Entrepreneurship and Technology Innovation. He is interested in technology, the internet, music discovery and sports. He has worked on business ideas in the field of social media, medical prognostic devices and consulting high school students on college decisions. He also has experience in communications, public relations and marketing.
Graduate Assistant, the Horn Program of Entrepreneurship
Chris Kilgus currently serves as a Graduate Assistant in the Horn Program of Entrepreneurship while he pursues his MBA from the University of Delaware. Chris’ professional and academic experience is primarily in public relations and marketing, specifically email marketing, social media marketing, and press release writing & distribution. For the Horn Program, Chris promotes events and assists with a multitude of marketing projects. At Punch Media, a burgeoning PR firm in Philadelphia, Chris helped the city’s top restaurants and retailers get noticed in leading industry publications.
Owner & Project Manager, Nuts and Bolts Web Design
NABWD.com has been helping to build small businesses and non-profits on the Web since 2004. Demetrius also works at the University of Delaware in IT for the College of Arts & Sciences.
Founder & Owner, Nemesis Autosport
In 2011, Danielle founded Nemesis Autosport, an automotive company specializing in after-market parts and accessories for primarily European and exotic vehicles, while she was earning her degree in Economics & Entrepreneurial Studies at the University of Delaware. She encourages aspiring students who wish to pursue entrepreneurship as a career path.
Sales, Marketing and Business Development Executive
Catherine’s career has included senior management positions at several Fortune 500 companies. In addition, she has been involved in the growth of two mid-stage companies and one Internet startup.