GENERAL INFORMATION:
What is the Grow Your Own Business Challenge?
Grow Your Own Business is a contest that encourages kids to come up with their own business ideas.
Who is By Kids For Kids?
By Kids For Kids Co. is the official administrator for the Secret Millionaires Club Grow Your Own Business Challenge – and is the leading company that helps kids learn to invent and innovate.
How can I sign up for an account?
Please go to http://www.smckids.com/learnandearn/user/register and sign up for a young entrepreneur account if you are kid. Parents, Teachers and Volunteers can sign up for their respective accounts as well. Please note that AOL's sign up on smckids.com is a different sign up. You need to sign up with http://www.smckids.com/learnandearn/ to enter the competition.
What is a Young Entrepreneur?
An entrepreneur is someone who initiates and manages a business and we are looking for budding young entrepreneurs who are have ideas for new businesses. If you are kid between 7 and 16 and have a business idea, sign up for a Young Entrepreneur account and get started!
Can my parent sign me up?
Absolutely! Parents – just go to http://www.smckids.com/learnandearn/user/register and register.
Can my parents view the Official Rules of the competition?
Absolutely. Parents, please read all official rules before entering your child!
Can my parents help me with my entry?
Your business idea submission must be your own original work, but your parents and teachers certainly may help you with the expression of your idea.
What is the easiest way to enter?
The easiest way to enter the Grow Your Own Business Challenge is online. Just go to www.smckids.com/learnandearn, sign up for an account and follow instructions on the website. There are special sections for kids, parents, volunteers and teachers, so it’s really easy for everyone.
Where can I get an entry form and official rules?
This contest is subject to the official rules. To obtain the official rules, please visit www.smckids.com/learnandearn and click on Enter the Contest. If entering via mail, you may download a print form here.
Will my information stay confidential?
Yes. At the By Kids For Kids Company (BKFK), we respect the privacy rights of all visitors to the Website. Use of the site and the activities and services available on and through the site is governed by our Terms of Use. In this privacy policy, we state our policies and practices with respect to your privacy. In particular, we respect the concerns of parents and guardians regarding their children’s visits to and use of our site, and have special privacy rules for children under 13. Please review our complete privacy statement.
Is there a fee to enter? Do I need to buy anything?
A fee is NOT required to enter the contest, and no purchase of any kind will improve your chances of winning.
Who owns my idea?
Entrants own all rights to their ideas. If selected to be a Semifinalist, provided there are no IP issues, ownership of the business idea shall remain with the entrant.
Will my entry materials be returned after the contest?
No entry materials will be returned. We recommend you make a copy of all entry materials for your records.
HOW THE CONTEST WORKS
What business ideas will you be considering in the Grow Your Own Business Challenge?
Every eligible entry we receive will be carefully reviewed and considered.
We’re looking for business ideas for:
• Products
• Services
It can be an online business, brick and mortar or a combination of both.
Who can enter the contest?
The Grow Your Own Business is offered only to individuals who are legal residents of the 50 United States and District of Columbia, who are at least 7 years old and not older than 16 at the time an entry.
Employees, officers, directors and advisors of The By Kids For Kids Company (“BKFK” or “Administrator”), Experian Services Corp (“Sponsor”), and A Squared Entertainment LLC (“Creator”) and their respective parents, affiliated and subsidiary companies, advertising and promotion agencies, Competition judges, web masters and web suppliers, and persons engaged in the development of the Competition & Competition materials and members of the immediate family (parents, siblings, children [natural, adopted, foster] and spouse, wherever they reside) or household members (whether or not related) of such employees, officers, directors, advisors are not eligible.
Do I need to enter the contest by a certain date?
Yes! All online entries must be received by 12:00 PM EST on 1/20/12. All mailed entries must be sent in a separate addressed, stamped envelope, postmarked by 1/20/12. We cannot consider any entries that are received after that date. No exceptions will be made.
Can I enter more than once?
Yes, in fact, many great entrepreneurs have many great ideas! You may enter as often as you like as long as each invention idea is unique and includes all information requested. If submitting more than one entry, you must complete one entry form for each (if entering by mail), or simply create as many entries as you like with just one easy online workspace. If mailing your entry(s) every entry must be submitted separately and in its own envelope.
How do I enter the contest online?
Entering is easy!
• Create a young entrepreneur account or login.
• In your account, click on "Individual Entry."
• If you are entering as a team, click on"Team Entry" and create a team.
• Answer all questions. Upload supporting documents if you want.
• Read the rules of the competition. Submit entry.
Your entry must:
1) include completed answers to all questions;
2) be for a new, original idea.
How can I enter as a team?
The contest accepts entries from a team of two to four members. Each member should sign up for his/her own account. The Team Leader can then create a team and add the members to the team through his/her account. Only the team leader is able to start, edit and submit a team entry. All team members will be able to review the entry from their accounts.
How do I submit my entry by mail?
Each page of your entry that is submitted (maximum two (2) 8 ½” x 11” sheets of paper for each idea description) must be: 1) legible, and 2) include your signature and complete contact information, including email address (if you have one), daytime phone number and age on all pages. Entries must be: 1) typed or neatly printed; 2) in 10 pt. font or larger; 3) double-spaced; 4) in English.
Submit your completed entry submission to: BKFK, 1177 High Ridge Road, Stamford CT 06905.
Do I have to complete my online submission all at once?
No. One of the reasons entering online is so easy is that you may store your entry materials in your own secure account, then come back as many times as you like and modify/add to your submission. Once you hit the submit button, however, your idea is locked. No edits, additions or changes will be permitted and your idea goes to the evaluation phase.
If I enter online, what if I forget my username and password?
You can retrieve it by hitting “Forgot Password or Username” and following the instructions there.
What if I don’t have an email address?
If your family has an email address, you can use that one. Your email address can be the same as your parent or guardian email address. Or you can enter via mail.
Will I be notified that my mailed entry has been received?
Due to the anticipated volume of entries, we cannot acknowledge receipt or status of any entry. If you want to be sure your mailed entry was received, please send it by registered or certified mail.
Will I be notified that my online entry has been received?
If you submit your entry online, you WILL receive a confirmation message via email, saying “We have received your entry.” Your entry will be electronically time-stamped and recorded by the contest administrator’s computer – verifying receipt.
JUDGING AND PRIZES
Who are the judges of the Grow Your Own Business Challenge?
All judging will be conducted by a panel of Sponsor executives and a national judging committee of industry experts. Evaluators do not profit in any way from the success of the winners. All judges sign a written confidentiality agreement before viewing any submissions.
Will the judges know whose entries they are evaluating?
No. All evaluations are on an anonymous basis until the Semifinalist round where selected nominees may be asked to submit to the judges a video explaining their entry to be used in this round of the judging. If a video is requested, it will be requested from all of the semifinalists and complete guidelines for the contents of the video will be communicated to each semifinalist. Judges do not have access to any of the entrants' personal information.
What are my odds of winning?
Odds are not relevant in a contest of skill. Entries are judged based on merit, not through a random drawing.
What criteria will be used to judge ideas?
Your idea will be evaluated using the following criteria. (The number in parentheses indicates the weight given to each criterion in determining total score.):
• Uniqueness of concept (40%)
• Depth and description of concept (30%)
• Feasibility of execution of concept (30%)
There will be two (2) pools of entries for judging: One (1) pool for entries by individuals and one (1) pool for entries by teams (teams must be two to four members). The ten (10) top scoring active entry individual submissions (provided that there are at least 10 active entry individual submissions), and the five (5) top scoring active entry team submissions (provided that there are at least 5 active entry team submissions), having received the highest compiled scores in this phase, and therefore deemed to be semifinalists of this competition, will proceed to the final round of judging.
A panel of Sponsor executives will evaluate the entries to determine the top five (5) individual scoring entries and the top three (3) team scoring entries who will be named the Finalists in this competition.
The final round of judging will be a combination of an Online Consumer Vote (20% of the final score) and an in-person final judging panel of five to seven Judges (80% of the final score) to determine the one (1) Grand Prize winning individual and the one (1) Grand Prize winning team.
The decision of the judges shall be final and binding in all respects.
What happens to ideas that don’t get chosen? How do I know they’re safe?
Entries and any information about the entries that are not selected to be Semifinalists will not be disclosed.
How do I get a signed Confidentiality Disclosure Form before I give you any invention idea?
The potential Semifinalists (and Semifinalists' parent or legal guardian if semifinalist is a minor) will be required to complete, sign and return an Affidavit of Eligibility and a Liability Release within the time stated on the notification. If documents are not returned in a timely manner, or if the documents are returned as non-deliverable, or if semifinalist is found to be ineligible or otherwise not in compliance with these Official Rules the Semifinalist and the Semifinalist’s entry will be disqualified, and all rights to the Semifinal and Grand Prize will be forfeited and an alternate Semifinalists will be selected.
What prizes can I win?
Grand Prize: One Individual winner will receive $5,000 plus a 3-day/2-night trip for two to the Grand Prize Event. Each Member of the Winning Team will receive $5,000 plus a 3-day/2-night trip for two to the Grand Prize Event.
Finalist Prizes: (To be awarded to four Individuals and two Teams) $500 to each individual and members of the teams plus a 3-day/2-night trip for two to the Grand Prize Event
Semifinalist Prizes: (10 individuals and five Teams) $250 to each individual and members of the teams
Teacher Awards: Each of the individual and team winner and finalist will have the opportunity to nominate their most inspirational Teacher/mentor for a Teacher Award. Nominated teacher will receive: A 2-day/1-night trip to the Grand Prize Event. Teacher nominated by the Grand Prize Winner and the winning Team will receive $1,000. Teachers nominated by the finalists will receive $250 each.
Will I have to pay taxes on my prize if I win?
Taxes, if any, related to the prize(s) are the responsibility of the individual winner and his/her parent/legal guardian.
FOR TEACHERS
Can teachers help their students enter?
Absolutely! There is a special section just for teachers – at www.smckids.com/learnandearn
What can teachers do to sign up their class?
Teachers can go to www.smckids.com/learnandearn, where you can:
• Create a teacher account.
• Create user accounts for your child or student.
• If you have a group of kids interested in submitting a team entry, you could also create a team account for them.
• Ask the kids to login with the usernames you created and submit an entry. (Kids can go to this page to learn how to enter on their own.)
What resources are there for teachers to help their classes get started?
Teachers can go to www.smckids.com/learnandearn where they will find activities, student worksheets and online webisodes of the Secret Millionaires Club to help get their students started.
Why should teachers get involved?
Teachers know the educational benefits of innovative thinking. Problem solving, brainstorming, working independently and researching have been identified as 21st century skills that are needed for the workforce of tomorrow. Inventing teaches creative and critical-thinking skills that kids need to be successful in this quickly changing global economy – and is recommended by the National Education Association, the largest teachers’ union in America.
Is getting classes involved easy for teachers?
Absolutely! Entrepreneurship can be approached from any age group and is interdisciplinary. It works in any classroom – and can involve science, social studies, English, math, technology and pre-engineering. The designing even involves art – so not only is every subject involved and used – your students will learn about how the subjects work together to create a new business idea
Can Teachers win anything?
Of Course! We really believe in teachers and the work that they do every day. Each of the individual and team winners and finalists will have the opportunity to nominate their most inspirational teacher/mentor for a Teacher Award. Nominated teacher will receive: A 2-day/1-night trip to the Grand Prize Event. Teacher nominated by the Grand Prize Winner and the winning Team will receive $1,000. Teachers nominated by the finalists will receive $250 each.
