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Mays Business School’s “Building a Better Future Through Business and AI” National Undergraduate Pitch Competition for AI-Focused New Ventures

February 7, 2025

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Mays Business School

Call for Submissions

 

Artificial intelligence (AI) has emerged as a transformative force, reshaping industries, economies, and societies at an unprecedented pace. The exponential growth of AI technologies offers new opportunities and challenges for businesses worldwide, enabling enhanced decision-making, efficiency, and innovation. We believe AI will be a critical piece of new ventures that will develop products and services that change the world. At Mays, we are committed to supporting AI’s capabilities to produce new products and services that build a better future.

To that end, Texas A&M University’s Mays Business School — in collaboration with the College of Engineering, the College of Arts and Sciences, the College of Architecture, the College of Agriculture and Life Sciences, and Texas A&M Innovation — invites individuals and teams of undergraduate student founders nationwide to submit business plans that leverage AI to address real-world challenges. Eligible individuals and teams must be currently enrolled undergraduate student founders from any major at any university and no more than four members can be on one team.

From the business plans submitted to the competition, judges will identify the top 24 entries. Those individuals and teams will be invited to present a 10-minute pitch to a panel of three judges through a virtual format. From those 24 entries, the judges will identify the top 12 nationwide and they will be invited to come to College Station for a final in-person pitch.

Submissions are due April 30, 2025.

Mays is proud to have support for the competition from Deloitte* and the Deloitte Foundation through individual contributions from Deloitte Texas A&M alumni matched by the Deloitte Foundation.

Interested in learning more? Submit your information below to receive competition updates and support with your AI business plan.

Name(Required)

Competition Overview

The competition will highlight the best AI-related businesses from undergraduate student founders across the country. Individuals and teams will compete in three rounds:

  • Written Business Plan Round: Submit written business plans to Mays Business School by April 30, 2025.
  • Virtual Pitch Round: 24 entries will be selected from all submissions to present a 10-minute pitch virtually in June 2025.
  • Final Round of In-Person Pitches: The top 12 entries will advance to compete at Mays Business School at Texas A&M University in College Station, Texas, on Sept. 19-20, 2025.

Winners will receive significant cash prizes, including $100,000 for first place, $50,000 for second place, and $25,000 for third place.

Eligibility

  • All individuals and teams must be undergraduate students currently enrolled at an accredited U.S. university
  • Students from all undergraduate majors are eligible to participate
  • Business plans must feature AI as a central component of their venture
  • Individuals and teams must demonstrate ownership or full rights to any technology or intellectual property used in their business plan
  • Ventures cannot have raised more than $250,000 in equity capital prior to Jan. 1, 2025
  • The ventures cannot have generated more than $100,000 in gross revenue in any 12-month period prior to Jan. 1, 2025
  • Ventures must have a minimum viable product (MVP)

Submission Information

Individuals and teams are required to submit a business plan that does not exceed 15 pages (including appendices and exhibits) and that includes the following:

  • Executive Summary: Overview of the business plan
  • AI Integration: Explanation of how AI is central to the venture
  • Market Opportunity: Analysis of the target market and potential demand
  • Revenue Model: Description of how the business will generate revenue
  • Team Overview: Information about the individual team members and their roles
  • Financial Projections: Summary of expected financial outcomes

MVP is not required for your initial submission. In June, we will ask the top 24 entries to share their MVPs.

Evaluation

Submissions will be reviewed by industry experts and Texas A&M faculty experts based on:

  • Innovation: Original, creative, and effective use of AI technologies
  • Market Potential: Scalable idea that demonstrates clear understanding of customer needs
  • Feasibility: Viable business model with realistic financial projections
  • Impact: Addresses significant societal challenges and contributes to building a better future through AI

Innovation and Creativity (25%)

  • Originality: Assess whether the business concept introduces a novel solution or approach within its industry.
  • AI Integration: Evaluate how effectively AI technologies are incorporated into the product or service, and the uniqueness of this application.

Market Potential and Opportunity (20%)

  • Market Analysis: Determine the depth of understanding of the target market, including size, growth potential, and customer segmentation.
  • Competitive Advantage: Analyze the venture’s differentiation from existing competitors and its strategy for achieving a sustainable market position.

Feasibility and Business Model (20%)

  • Revenue Model: Examine the clarity and viability of the proposed revenue streams.
  • Operational Plan: Review the practicality of the operational strategy, including resource allocation and scalability.

Team Composition and Capability (15%)

  • Expertise and Experience: Assess the relevant skills and backgrounds of team members in both AI and business domains.
  • Team Dynamics: Consider the team’s ability to work cohesively and their preparedness to execute the business plan.

Financial Projections and Funding Strategy (10%)

  • Financial Viability: Evaluate the realism and thoroughness of financial forecasts, including projected revenues, expenses, and profitability.
  • Funding Plan: Analyze the strategy for securing necessary funding and the appropriateness of the proposed use of funds.

Social Impact and Ethical Considerations (10%)

  • Societal Contribution: Assess how the venture addresses significant societal challenges and contributes positively to the community or environment.
  • Ethical AI Use: Evaluate the team’s awareness and management of ethical implications related to AI deployment, such as data privacy and bias mitigation.

Scoring Guidelines:
Each criterion will be scored on a scale of 1 to 5:

  • 1: Poor – The submission lacks this element or it is poorly addressed.
  • 2: Fair – The element is present but underdeveloped.
  • 3: Good – The element is adequately addressed with room for improvement.
  • 4: Very Good – The element is well-developed and thorough.
  • 5: Excellent – The element is exceptional and exceeds expectations.

Awards

The competition will award more than $200,000 in cash prizes:

1st Place: $100,000

2nd Place: $50,000

3rd Place: $25,000

4th Place: $15,000

5th Place: $10,000

6th-12th Place: $2,500 each

Additional benefits for winners include:

Mentorship Opportunities: Winners can choose to be paired with an Aggie entrepreneur mentor for one year.

Travel Assistance: Top 12 individuals and teams will receive funding to support travel to College Station for the final round of the competition.

Submission Deadline: April 30, 2025, by 11:59 PM CDT.

Please direct any inquiries by email with the subject “Undergraduate AI and Entrepreneurship Business Plan Competition” to Assistant Dean for Artificial Intelligence Arnold Castro at aicompetition@mays.tamu.edu.

*Please see www.deloitte.com/us/about for a detailed description of its legal structure.

Frequently Asked Questions

Undergrads have to be enrolled as of this semester but can have graduated this upcoming May.

Yes, as long as they are also enrolled as undergraduate students and in a university that is in the United States.

No. All team members have to be current undergrads.

No. You do not have to submit your MVP right now. You just need your business plan explaining in detail what your business concept is and how AI handles the business problem.

In June, we will ask the top 24 teams to share their MVPs.

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