The Competition is aimed at:

1. A participant can be an individual or a team which can be comprised of upto 5 members.
   
2. Entries must be either a new business or business idea or an early stage company.
   
3. All participants will submit the Executive Summary in the preliminary round by the date due and should follow the Executive Summary Template. The Business Plan will be submitted only after the executive summary is short-listed amongst the top 10. The Business Plan should conform to the Business Plan Template.
4. The plan must be an original business idea.
5. The principal business operation must be located within Michigan, Illinois, Indiana, Ohio, Pennsylvania or Wisconsin
6. Company officers/members must be 18 years or older at the time of entry and legal residents of the United States.
7. There is no guarantee, expressed or implied, that any business will receive an award. Should no entries into the competition meet the entry criteria, should no entry have a reasonable chance for success and should the judges determine no winner exists for the competition, no award will be made.
8. Each participant must sign an affidavit of eligibility and publicity/liability release.
9. Participants that have already secured funding from any source including other competitions must disclose the amounts and sources at the time of entry, or as soon as they become aware of any funding commitment during the duration of the competition.
10. All entries must be original and free from any claim of copyright or other restriction relating to the Competition.
11. No individual may be included as a "team member" on more than one business plan, and no business may enter more than one business plan.
12. Awards to the winners of the Competition will be issued in the name of the company as set forth in the plan and the sponsors/judges do not assume any liability for any subsequent distribution.
13. The decisions of the judges and TiE are final.
14. TiE reserves the right to change these Official Rules at any time, in its sole discretion, and to suspend or cancel the Competition or any entrant's participation in the Competition should unauthorized human intervention or other causes beyond TiE's control, affect the administration, security, or proper conduct of the Competition. No responsibility is assumed and entrants waive all claims for lost, late or misdirected entries, or for any problems of technical malfunction.
15. Entrants who violate these Official Rules, tamper with the operation of the Contest or engage in any conduct that is detrimental or unfair to the Competition, or any other entrant (in each case as determined in TiE's sole discretion) are subject to disqualification from entry into the Competition. TiE reserves the right to lock out any entrant whose eligibility is in question.
16. By entering, participants, without limitation, release and hold harmless TiE and the organizers from any and all liability for any injuries, loss, or damage of any kind in connection with the Competition.
17. By entering this Competition, participants agree to waive any right to claim ambiguity or error in these Official Rules or in the Competition itself.