- Nominations: Six weeks prior to the fall or spring meeting of the Entrepreneurship Initiative Advisory Group, Georgetown faculty and Entrepreneurs-in-Residence will be invited to nominate promising candidates for the Leonsis Prize, based on the above-described criteria. Candidates may be nominated as individuals or as teams.
- Applications: Nominated individuals or teams will be given two weeks to complete a detailed application. Nominees will be asked to describe their business and the impact the Leonsis Prize would have on their ability to advance their venture, as well as their own personal qualifications.
- Internal Committee Review: An internal committee of faculty and Entrepreneurs-in-Residence, including Entrepreneurship Initiative Director Jeff Reid, will review applications and select a group of finalists.
- Presentations: Finalists will be given three weeks to prepare presentations for the internal committee and the Entrepreneurship Initiative Advisory Group. During this time, our Entrepreneurs-in-Residence will serve as key mentors and advisors to the young entrepreneurs, helping them design their presentations and consider the challenges and opportunities the prize may present to their ventures. Finalists will make their presentations during the Group’s fall or spring meeting.
- Board Ratings: Following the finalist presentations, the Advisory Group shall rate the full group of finalists and provide these ratings to the internal committee of Georgetown faculty, staff, and Entrepreneurs-in-Residence, who will select the prize winner(s).
- Final Selections: Taking under advisement the suggestions of the Advisory Board, the internal committee will select the individual and/or team recipients of the Leonsis Family Prize. The committee will be given discretion to select the total number of recipient(s) each cycle as well as the size of each prize within an annual limit of $100,000. The committee will not be required to award a prize in a given application cycle. After the prize is awarded, Georgetown’s Entrepreneurs-in-Residence may continue to provide mentorship to the Leonsis Prize winners as they advance their entrepreneurial activities. Prize recipients may be asked to present their progress to the Advisory Group at future meetings, and may also be asked to give a public presentation at events such as Entrepreneurship Day or Entrepalooza.
Viability of the nominee’s venture, including current stage of development and assessment of market opportunity and competitive landscape
Proven passion and initiative in the active pursuit of their entrepreneurial venture
Commitment to innovatively solving problems and creating value in communities through entrepreneurship
Superior business and entrepreneurial acumen