2020 Shark Tank of Wellness Global Student Competition

The 2020 Shark Tank of Wellness competition submission period has ended. The top three finalists for 2020 will be announced on August 17, 2020. Best of luck to all the student participants!

The “Shark Tank of Wellness” student competition is an annual global challenge that rewards students for their most innovative, impactful ideas for the wellness industry. You can sign up to receive updates on the annual competition here.

The GWS defines the wellness industry broadly and are looking for innovations in sectors as varied as architecture/design, beauty, education, fitness, hospitality, investment, medicine, nutrition, real estate, spa, technology, travel, tourism and more. Each year students are to submit a concept submission form detailing their idea and a 1–2 minute video presentation of their idea. The wellness industry is currently valued at over $4.5 trillion, thus providing ample opportunity for students with great ideas!

Three top finalists are selected are are flown, along with their professors, to the annual Global Wellness Summit (GWS) being held November 8–11, 2020 in Palm Beach, Florida. Here, they will pitch their business idea to the attending Summit delegates—a “who’s who” in the global wellness world. Several business leaders will act as “Wellness Sharks” and ask questions of the students, who will defend their innovation and make a business case for its feasibility. The first, second and third place winners will then be announced on stage during the Global Wellness Summit.

Important Competition Dates

February 15, 2020: Competition opens. Students register and receive the necessary information to complete their submission.

July 15, 2020 (11:59 p.m. US Eastern Time): Competition closes. All submissions, both the Concept Submission Form and video, must be completed by this time. Late submissions will not be accepted. (The deadline was extended from May 31 to July 15.)

August 17, 2020: The top three concept submissions, as decided by the judges, will be announced by email to all registered participants. Arrangements will then be made to fly each of the three student finalists and their professors to Palm Beach, Florida for the Global Wellness Summit taking place November 8–11, 2020.

November 8-11, 2020: The Shark Tank of Wellness finalists will present their ideas on stage at the 2020 Global Wellness Summit. Students will pitch their ideas to the judges (a.k.a. “Wellness Sharks”) and the Summit delegates. The first, second and third place winners will then be announced on stage, at which time, the prizes will be awarded. The winners will be listed on the Global Wellness Summit website and promoted on social media post-Summit.

Submission Process

1. REGISTER for the contest online: Anyone interested in participating in the competition must register by completing the Entry Form. Only registered contestants will receive the necessary information to complete the submission process.

2. SUBMIT a Concept Submission Form AND video no later than July 15, 2020. The information necessary to submit these items will only be sent to those who register for the competition.

The Concept Submission Form consists of several questions regarding the wellness idea and its viability, such as:
– Give a general description of your wellness idea.
– Identify and explain your target market and potential customers.
– Identify companies, products or services that compete with your innovation or those that could pose a barrier to entering the marketplace.
– What sets your concept submission apart? How does your innovative idea differentiate from similar products or services already in the marketplace?

The video should include a presentation of the wellness idea, focusing on why the innovation could positively impact the wellness industry. Please see Official Rules for more information.
– The video must be 1–2 minutes in length; any videos outside this length will be disqualified.
– Videos must be uploaded to a public platform, such as YouTube, Vimeo or Dailymotion.
– The video must contain only original work and not be subject to any copyright restrictions.

Eligibility

The competition is open to both individual students and teams of students over the age of 18 from anywhere in the world. There is no entry fee. Note: If participating as a team and the team is chosen as one of the top three finalists, only the team leader will be eligible to attend the Global Wellness Summit with their professor.

The participant(s) must be an undergraduate student (working toward a one- or two-year diploma, a four-year Bachelor’s degree, or a Vocational Education and Training (VET) qualification) or a graduate/postgraduate student (working toward a Master’s, MBA, JD, MD or PhD degree) in a university or college of distinction at the time they develop and submit their concept.

The contestant(s) must be either a full-time or part-time student at the university or college.

The contestant(s) must have a professor or faculty advisor who serves as a mentor for their project.

All contestants must be available to attend the Global Wellness Summit, November 8–11, 2020, in Palm Beach, Florida, to present their idea in person.

Shark Tank of Wellness FAQ’s

Click here for answers to frequently asked questions about the Shark Tank of Wellness global student competition.

Prizes


First Prize: One (1) first-prize winner will receive US$5,000.
Second Prize: One (1) second-prize winner will receive US$3,000.
Third Prize: One (1) third-prize winner will receive US$2,000.
Total value of all prizes is US$10,000.

Additional noncash prizes include airfare and hotel accommodations in Palm Beach, Florida, for the top three student finalists (individual or team leader) and their professors. Also included is access to the three-day Summit (a $4,560 value), including all general sessions, breakout discussions and industry forums, featuring global industry leaders. A myriad of social events and a final evening gala is included. This is a priceless opportunity to meet and learn from global visionaries.

See Previous Shark Tank of Wellness Top Finalists here.

Judging Criteria

Entries will be judged on the following criteria, which will hold equal weight:
– Project innovation
– Visual appeal or design
– Relevance and importance to the wellness industry
– Viability as a business (customer/market analysis and competitors)
– Quality of the project presentation
Judges’ decisions are final.

Judging Process

The competition judging panel is comprised of the Summits’ sponsors, who will play the role of “Wellness Sharks” while students are presenting their business ideas on stage. All “Wellness Sharks” are leading experts in the wellness industry.

For additional information, please review the Shark Tank of Wellness FAQ’s or contact Kate McIver.

 

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