All comments as to the efficacy of the design for now, don’t get involved in competitions. They are a race to the bottom.
As to the design itself, if I am being honest, I find all a bit cliché and uninspiring. Your initial description of what you have come up with sounds like you read a book on colour theory and basic design principles and this is something that ticks all boxes. Fair play, at least you read the book, which is more than can be said for many posting work for critiques here.
However, what this does not do, is tell me anything about the personality of the company and doesn’t really speak to their audience. It feels like it is trying to be all things to all people. From what you have said, the intended audience is visually literate, educated demographic and will understand, in a heartbeat, the massively obvious visual cues you have employed and feel more than a little patronised. That would certainly put me off. It all feels a little like local ads for painter/decorators that use the cartoon man with paintbrush in hand. You need to dig deeper. You stopped at the first idea.
Now that I have completely shot you down in flames – apologies, not intended to be quite so brutal – what I would suggest is do a lot more research into the business sector and the target audience. Employ what it appears the company does, and learn some psychology.
All that said, any company that entrusts their visual identity to a competition site (especially, given their area of operation – you’d think they’d know better) to a crowd-source competition site, doesn’t deserve the kind of attention to detail required to communicate what they do effectively.
My advice; ditch the competition and focus your efforts on getting yourself educated at a decent university. You have obviously gone beyond the ‘design as pretty’ stage and are thinking about what you do. Learn more, learn properly and ditch the crowd-source sites, or you will resign yourself to bottom-feeding with the molluscs for your working life.
Hope this helps, rather than disheartens. It may be brutal, but it’s intended to be brutally honest. Good luck.