Frequent Asked Questions

We know you've got questions about how the Venture Challenge works. Feel free to browse our FAQ or get in touch if you don't find an answer.

How has the Venture Challenge been used?

The Venture Challenge has been used a major assignment, an entire course, or as an extra curricular. We’ve kept the VentureChallenge open in format with the intention of keeping it as flexible as possible. Learning resources are optional, and the investor pitch aspect is also optional. 

What is a typical timeline for the V.C.?

2-3 Weeks to Ideate, Validate, Plan, and Launch an online store
30 days of live competition
1 week to recap and finalize the competition
1 week to pivot, and make investor pitch (Optional)

Historically, what have your results been?

Since moving the Venture Challenge online in 2010, teams have averaged $910 in revenue, with 87% of teams exceeding $300. 

Where do the profits go? How much to charities?

Team members can compensate themselves for their expenses, but all profits must go the charity of their choice.

Are student responsible for written assignments? 

Students will be required to complete the business model canvas, as well as competition and industry analysis. 

How do you mark the Venture Challenge?

There is no one way to grade the Venture Challenge. The game engine scoreboard provides an excellent starting place, and from there it becomes a matter of personal preference, both in terms of time spent grading, as well as desired learning objectives. Our customizable master grade sheet takes game engine results, advanced metrics, business planning and analysis, and website design & functionality. We’ve provided guideline templates, but each aspect is customizable based on teacher preference.

How does the game engine score points?

There are two ways to score points, competing tasks, reaching milestones, and sales. 

How much does the Venture Challenge cost for students?

Students are asked to front around $50 to fund their businesses, initially funding is reimbursed from business revenue as it is earned. The $50 covers the $25 cost per student of the Venture Challenge software, Shopify store fees and initial marketing expenses. 

Do students need to register their business charity?

Because students are donating their profits, they qualify as a Charity. Charitable Regulations are by State/Province and do vary. Charities typically don’t need to register unless they are raising considerably more than what can be expected with the Venture Challenge. (ex
 $5000+)

Do students contact the charity organization before starting the project?

Students are not required to contact the charity organization before beginning the project, however, making contact and enquires about promotion would be advisable.

How big are teams?

Team can range is size. The suggested size is 4 students per team.

What do you do to avoid trademark issues? 

As part of the industry & competition analysis, students are asked to perform a trademark search to avoid trademark issues. 

Does the Venture Challenge have a Syllabus?

It does, sign up here to get access to our course syllabus and everything you need to get started using the Venture Challenge. 

How long does the Venture Challenge Last?

There isn’t one set schedule for the Venture Challenge. A typical schedule will allow 2 weeks for ideation, validation, planning, and launch, 30 days of live competition, and 1-2 weeks to include the optional Investor Pitch. 

What is the exit strategy for the teams?

This will be up to each team individually. Teams can choose to continue their online store, however, will need to register if they intend on keeping future profits.