TiEQuest Contestants must meet the following qualifications:
- The competition is open to all types of entities (corporation, partnership, proprietorship, etc.) established by between 1 and 5 entrepreneurs or aspiring entrepreneurs
- Entities must be incorporated either in Canada or the United States of America
- Contesting entrepreneurs may not be directors or officers of TiE, or family members of competition organizers or judges
- Contesting entrepreneurs may not be members of more than one entity entering the competition; each entity may only make one submission
- Submission must be the entrepreneur’s original idea - proof of origination should be available
- The business idea may be new or already implemented
- Total third-party funding raised in the business as of date of entry should not exceed $2,000,000
- The contestants must have developed the business venture themselves and be serious about seeing the business venture through to reality
It is strongly recommended that each team select one or more Mentors to guide them in developing a quality business venture. We expect mentors to hold at least three feedback sessions with each contesting entity. The following will qualify as an mentor:
- A faculty member at a Canadian or US University
- A professional in the industry where business venture is focused
- A manager of an entrepreneurial assistance program
- Upon request, TiE Toronto will provide services of one of its Charter Members, who have agreed to volunteer their time for this.
Working with mentors does improve the chances of success.