What are the key dates of the F Factor competition?
The key dates for The F Factor are:
What dates do I need to be free?
You must be free to come to London on Saturday, June 3rd, 2017 for the Workshop Day and on Thursday, June 15th, 2017 for the main day of Founders Forum.
What is the workshop day on June 3rd?
The Workshop Day is The F Factor semi-final. This is a full day in London on Saturday, June 3rd where we will gather the ten shortlisted teams. You will be asked to pitch your idea in 2 minutes and mentors will be there to help you refine your pitch. At the end of the day you will have one last opportunity to pitch your idea. After this day, we will make a decision on who the 5 finalists are and will announce it on Tuesday, June 6th.
What happens to my idea if I win?
The winner will receive a cash prize of £10,000 but it’s up to you to decide how to spend it. You might want to use it to develop your idea, or perhaps you might want to invest it in infrastructure such as a new computer set up, for example. We like to know how you used the money and what it enabled you to achieve so you will be asked to keep track of expenditure.
Do I have to give up my business idea in return for the cash prize?
Absolutely not. You will retain 100% ownership of your idea. The prize is a reward, not a sale. There is no commitment to Founders Forum or the judges.
What happens to my idea if I don't win?
You will also retain complete ownership of your idea. However the five finalists will get to meet some of the best entrepreneurs and investors in the world - so more than one business may end up being created from the competition if you impress the right people.
Will my idea be published on the site if I don't win?
No. However we reserve the right thing to publicise the story of the five finalists. If you are under 16 we will only do so with your parents' permission.
Can I enter with my friends?
Yes. Teams of up to two people can pitch an idea together.
What if I have already pitched my idea somewhere else?
That's fine. We understand that sometimes it takes a while to find the best audience for your idea. Your idea should be original.
How much business experience do I need?
None. You will not be judged on your CV or what you have achieved in the past. You just need to have the start of a great idea. You just need to show us that you are serious about your idea and that you are the right person to build it. You should also think about why there is a demand for your business as well as the 140 character pitch.
What will happen at the final on June 15th?
If you are lucky enough to make it through to the final five, you will need to pitch your idea in person to our panel in front of the members of Founders Forum. It may be filmed and you will need to speak in front of a large audience. The winner will be revealed at the end of the day, live on stage.