The Big Idea Competition is an opportunity for teams to present their start-up venture ideas and compete for cash prizes.

The competition is on June 13 at the Hatchery inside the Rexburg City Hall. Anyone with a business idea who wants to validate it may compete, according to the competition’s website

Registration is open until June 7, but potential participants are encouraged to register even if they miss the deadline.

Each team must have a minimum of two members. Teams may have no more than eight members and the start-up ventures must be younger than two years.

“If you’re wanting to pitch, you should definitely help outline the problem you’re solving,” said Aaron Denney, a competition organizer. 

Competitors are encouraged to identify problems their businesses solve and to display simple business plans, according to Denney.

Competitors in the past have ranged from BYU-Idaho students to 70-year-old Rexburg residents with ideas ranging from wedding dress shops to toy stores, according to Denney.

To register for the competition, see the city’s sign-up sheet.

The competition is jointly sponsored by the City of Rexburg and Madison Economic Partners Inc. This will be the eighth year of the competition.

This year the City is hoping for over 15 competitors — last year it had 10.

First place will receive $500, second place $300, Third place $200 and Audience’s choice $300. Additionally, all winners will win six months of access to the Hatchery.

The public is invited to come watch and help judge. The scoring rubric is available on the Madison Economic Partners website.

“Don’t talk yourself out,” Denney said. “If you have a business idea, just sign up. There’s no cost to participate and you’ll get a little bit of feedback and you might win a little bit of money to start your business.”