I think my idea has huge potential (xxx)
We think it should be in xxx form
it will be huge but we don't know about funding, producing and marketing.
...can this be promoted at SWT?
It will help you do 2 things - one to see if your assumptions about the potential are true or not (is there a market) and secondly ideas on promoting and the medium... the whole process is about learning and failing fast with as little capital outlay as possible, so that you get the product that best suits the market without wasting time/money on features that the market are not interested in.
If both of you come, you are guaranteed of being able to form a team (to work on your project over the weekend and present it to the judges) and you can invite others to it or not (think about equity as against the value of their input with skills the 2 of you may not have). If it's only one of you and you don't get enough votes based on your 1-min pitch on fri then you will need to work with another team over the weekend but you can then go back and apply the concepts to your project. The first time I went for one my idea didn't get picked but I joined another team and we ended up winning, at the 2nd event my idea was the most liked from the beginning and we ended up winning with ShareMatey. It is all about helping others and learning so that you can fail fast and then prosper :-)
There is no funding but access to connections and the focus is on developing your concept so that you can then apply for funding or present to investors.