Is the IN-Prize Competition a grant, equity or debt?

The IN-Prize competition is NOT a grant. Any investment may be either equity or debt subject to the Rules and Criteria

Is there a fee to apply to the Rally IN-Prize Competition?

There is no fee to apply. 

What are the eligibility requirements for applicants?

• Companies may only enter one product or service for the Rally IN-Prize Competition
• The submitted product or service must fall under one of the Rally Innovation Studio Tracks
• Companies may only compete in one Innovation Studio Track
• The submitted product or service must have been conceived no earlier than January 2019
• Companies must not have raised more than $10 million in funding from combined funding sources
• Companies must have a total addressable market (TAM) of more than $500M
• Applicants permit the use of their company name, logo, and executive summary by Rally
• To be eligible to win, applicants must agree to the Rules and Criteria below.

How will the on-stage pitch process work?

Each finalist will be given 2 minutes to pitch, followed by 5 minutes of Q&A with a panel of judges with investment experience in the finalist’s industry.

Will there be an option to pitch virtually if I am selected as a finalist but unable to attend Rally in person?

No. Rally IN-Prize is an in-person competition only. 

What are the Rally IN-Prize Judging Criteria?

Rally Judges will focus on these critical elements:

• Team – team experience in place (business, product, sales, etc.)
• Traction – users, sales, marketing exposure, etc. 
• Opportunity – the longevity, actualization and profitability of the idea
• Creativity – the differentiation, originality and uniqueness of the idea

Finalists – Will I receive a complimentary registration to Rally 2023?

Yes! Finalists of the Rally IN-Prize will receive two (2) complimentary registration badges for Rally 2023, good for all access to Rally keynotes, panels and other activities.

Additionally, each presenting company will have the opportunity to network and demo their product/service in the Rally arena and will receive up to two (2) additional reduced rate badges for other team members to participate and attend.

Applicants – What if I am not selected as a Rally IN-prize Finalist?

All applicants who meet the qualifications, but are not selected to pitch, will receive a code allowing them to register for up to two (2) Rally 2023 badges at a reduced price and also encouraged to apply for the Demo Arena and Investor 1:1s.

How are Rally IN-prize Finalists selected?

The Rally pitch competition team will screen applicants to ensure they meet all eligibility requirements, and a committee of experts in each Innovation Studio track will review each application to decide which products and services are the most innovative.

Should my company include our pitch deck or demo video in our online application?

We strongly encourage all applicants to submit a brief non-password-protected video pitching the company. This pitch video should be two (2) minutes or less and should feature the applicant speaking to the camera—we want to see how you pitch, not what your video editing software can do.

We also strongly encourage you to upload a non-password-protected current pitch deck (no longer than 20 slides), along with a marketing video demonstrating your product or service or a video of you pitching at a prior event. These materials carry a great deal of weight with our application committee.

How will I know if I have been selected to participate?

Applicants invited to participate will receive an email notification from the Rally team. Participating companies will be notified in mid-to-late July of 2023. Please refrain from contacting Rally staff and our respective partner organizations regarding the status of your application. We receive a high volume of submissions and will update all applicants regarding their status as soon as possible.

Still have additional questions?

Please contact Rally IN-Prize Pitch Competition Manager Philip Cogley: philip@adeointeractive.com

Investment Rules and Criteria

All Rally IN-Prize winners consent and agree to the following rules to be eligible to receive the investment prize:

• Rules and Criteria may be revised at any time at the sole discretion of all related Rally competition hosts and investors
• These Rules and Criteria supersede any other written or verbal conversations or representations
• Companies may only enter once for the Rally X-Prize Competition
• The submitted company must fall under one of the Rally Innovation Studio Tracks
• The submitted product or service must have been conceived no earlier than January 2019
• Companies must not have raised more than $10 million in total funding
• Companies must have a total addressable market of more than $500M
• Applicants, Finalists and Winners permit the use of their company name, logo, and executive summary by Rally organizers
• Applicants and Finalists will be requested to submit pitch decks in a similar fashion to this format
• Award of any investment is subject to final due diligence and agreeable terms by the investors at their sole discretion
• Rally pitch competition investment requires a minimum 1:1 investment which may be achieved by non Rally related investors brought forth by the company or by Rally related investors that may be brought forth through syndication with other investors
• Investment is anticipated to be in the form either
  • (1) Equity; we will ask each company to indicate pre and post-money of latest round as well as desired pre-money of the current round and total being raised, or
  • (2) Convertible Note; with market terms – 8% interest, 20% discount and desired valuation cap. 
  • Note – SAFE’s, SEALs, or other non-market vehicles will not be considered.
• Companies must commit to establishing a Significant Presence in Indiana
  • “Significant presence” is defined by at least one (1) physical office (or active co-working space membership) AND  minimum one (1) full-time C-level executive or founder for a minimum of one year within the geographic borders of Indiana.
• Please note it is possible that a pitch competition finalist could win their respective track and not be successful receiving the investment prize.

Benefits to Winners:

• Each winner investment may include multiple VCs on your cap table
• Automatic acceptance into the Elevate Ventures Accelerator
• Additional custom in-kind benefits

Verticals That are Specifically Not Eligible:

• Real estate and real estate development
• Insurance
• Professional services provided by an accountant, a lawyer, or a physician
• Retail businesses with brick and mortar
• Oil and gas
• Investment vehicles that invest in securities of other businesses
• Gaming and gambling
• Single-purpose entertainment or events