2020 Student Entrepreneurship Competitions

Thank you for joining us!Everyone, please enter the following in group chat

or email info to kksterling@salisbury.edu

• Name

• Email

• School(College Health & Human Sciences, Fulton, Henson, Perdue, Seidel, Graduate, etc.)

• Type of BusinessWe will email you this PowerPoint after the meeting.

If attending for a class grade, make sure you enter your info.

Invest in My IdeaPoster Pitch

SU Student Entrepreneurship Competitions

REVISED 2020 Important Dates

Open to All SU Students and SU Student TeamsRegistration Opened:Monday, February 24, 2020 11:59 p.m.

Profile & Business Plan Due: REVISED DATE Monday, April 13, 2020 11:59 p.m.

Complete Application Due: REVISED DATE Monday, April 20, 2020 11:59 p.m.www.salisbury.edu/perdue/EntrepreneurshipCompetitions

REVISED Registration Requirements

April 13 - Required Information Uploaded to Site

• Step 1 - Profile Completed

• Step 2 - Business Plan Mostly Completed NO NEW registrations after April 13

• You will have access for 1 week after April 13 to make changes and add info

REVISED Registration Requirements Cont.April 20 - Required Information Uploaded to Site

• Step 1 - Profile Completed

• Step 2 - Business Plan Completed

• Step 4 - Poster PDF Completed Note: File size and format limits when uploading files and we recommended you condense photos and graphics

• Step 4 - Pre-Recorded 1 Minute Pitch weblinkMore on the video pitches in later slideNote: IT added a field for weblink

REVISED Optional Registration Items

April 20 - Optional Information Uploaded to SiteRecommended but not required

• Step 3 – File Uploads – Financials, Exhibits, and Business Plan

• Step 3 - File Uploads – Exhibits - Marketing Materials uploaded under Exhibits. Items such as brochures, signs, business cards, information packets, photos of samples/prototypes, and links to video demos should be added to 1 marketing document and uploaded to Exhibits

• PowerPoint for Round 3 – Upload under Step 3 – File Uploads –Exhibits Have PowerPoint ready on day of competition

Note: File size and format limits when uploading files. Recommended you condense photos and graphics

Video pitch weblink and all files you want to be considered must be entered online by April 20 11:59 p.m. No changes after this date.

Round 1 Required Pre-Recorded 1 Minute Pitch Video

Round 1 Poster Pitch and Business Sector Only• ALL ENTRIES MUST MAKE A PRE-RECORDED 1 MINUTE PITCH

• Pitch must be 1 minute or less

• You will need to make your own video

• Can use or reference poster in pitch but don’t let it distract from pitch

• Judges will be allowed to watch the pitch more than once

• Video needs to be uploaded to YouTube or other shareable format via a shareable weblink.

• Weblink MUST be easily accessed without login requirements

• Weblink MUST be shared in Section 4 on the registration before April 20

• Your pre-recorded 1 minute pitch will be used in Round 1 – Poster Round ONLY

• Teams that move on in the competitions to Round 2 and 3 will give live Zoom Pitches

• Graphics allowed Round 1

Rounds 2 & 3 Live Zoom Pitch Guidelines

Round 2 Live Zoom Video Pitch Guidelines• 1 Minute Live Zoom Video Pitch & 4 Minute Live Zoom Q&A• NO graphics, posters, etc. in video• Just you/your team and the pitch• Can wear marketing items such as logo wear, shirts, hats, pins• During Q&A, you can reference your poster and registration

documents uploaded. Just don’t let it be distracting• Practice Pitch with Zoom without props

Round 3 Live Zoom Video Pitch Guidelines• 10 Minute Live Zoom Video PowerPoint Pitch & 10 Minute Live Zoom

Q&A• Video graphics, posters, etc. allowed in your PowerPoint

Presentation. Just don’t let it be distracting• Can wear marketing items such as logo wear, shirts, hats, pins• Practice with Zoom Pitch with your PowerPoint

Format Changes

2020 Student Entrepreneurship Competitions Round 1 The Poster & Business Sector Prerecorded 1 Minute Pitch, Poster and Other Files Shared in RegistrationNo Live Zoom for Competitors This RoundRound 1 Awards - Open to Public - Live Announcements

Round 2 The Pitch - Gull Cage 1 Minute Live Pitch and 4 Minute Live Q&AVia Zoom with Judges and Competitors – 15 PitchesRound 2 Awards - Open to Public - Live Announcements

Round 3 The Plan - Bernstein Achievement Award for Excellence Open to Public10 Minute Live PowerPoint Presentation and 10 Minute Live Q&AVia Zoom with Judges and Competitors – 4 pitches Round 3 Awards - Open to Public - Live AnnouncementsPublic video link to be added on Student Entrepreneurship Competitions main page for Round 3 Presentations and all award announcements

Assistance Getting Ready

• Attend Workshops and Trainings Calendar and Workshops

• Subscribe Hub Newsletter Sunday 6 p.m.

For Questions or Mentor Appointments Contact: Bill Burke wpburke@salisbury.eduJohn Hickman jnhickman@salisbury.edu

Kathy Sterling kksterling@salisbury.eduJenna Drewer sweconomic02@salisbury.edu

Tia Hobby sweconomic05@salisbury.edu

12-24 Hours Notice

SU Student Entrepreneurship Competitions

Invest in My Idea “A Poster Competition”

15 winners move forward

The Gull Cage “A Shark Tank Competition”

4 winners move forward

The Richard Bernstein Achievement Award for Excellence

“A Business Plan Competition”

1 Winner www.salisbury.edu/perdue/EntrepreneurshipCompetitions

https://www.salisbury.edu/academic-offices/business/entrepreneurship-competitions/calendar-and-workshops.aspx

Invest in My Idea Key Facts

You must win to go to the next round.

Judges will chose to invest in the proposals that show best likelihood of return.

You only have 1 minute to convince them via your video and your registration documents.

How quickly do you need to tell your story?

One Minute!

One Minute, Is that Realistic?

One Minute, Is that Realistic?

What to Tell In One Minute

o How you came up with the Idea

o What is your Business

o How you are better than competing products or services

o How you make Money

o Where do you get all of this?

Executive Summary

A concise summary of the key points in your plan.

Includeso A synopsis of the company’s strategy for

succeeding

o A brief description of the market (along with the ingredients for success that make your company unique in that market)

o A brief description of the product or service

o A brief description of the management team’s qualifications

o A capsule summary of the key historical and forecasted financial data

o An estimate of the amount of capital or loan funds you need and how you will use it

What is ON the Poster?

o What products and services will be offered?

o Who is your target customer (and how many are there)?

o What is unique?

o How do you promote?

o What is going on in your location and industry (Why You Now)?

o Competitors

o Trends

My Company’s Name

Market or Industry

• Trends• Competitors• Customers

Marketing & Sales• Promotional

Activities• Logos • Branding

Pricing & Costs

• Price Comparison

• Equipment Costs

• Start-Up Costs• Investment

Options

Product or Service Description and ImagesWhat problem does it solve?

How Do You Make Money?

• Break Even• Profit Margin• Significant Cost

Drivers

Target CustomerTheir Needs

Personnel & Leadership TeamKey Employees or Skills

Competitive AdvantagePrice, Location and Features

Your Logo Your Logo

What is ON the Poster?

o How do you make Money and how much?o Break even

o Pricing

o How much capital are you seeking?

o What are some key milestones?

o Your logo?

o Your location?

o What do you or your team bring?

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Company NameBusiness Plan (Elevator Pitch)

What is YourBusiness?

What is your product, service, concept, key technology?

The Team

Key management:names, positions, previous accomplishments

Competitive Advantage

What is your competitive advantage in the long run?

Market Analysis

What is your target market? Size? Competition? Where do you want to be?

Sales Projections

Five year salesprojections

Burning rate

What is your burning rate? Example: $200,000 per month

Marketing Concept

How are you going to market your productor service?

Milestones

List your key milestones in R&D,product development, manufacturing, marketing, etc.

Strategic Alliances

Who are your strategic partners? Major distribution agreements? Licenses? Large orders?

What do you want? What do you offer?

We offer 30% of equity for $2mln investment

Exit Strategy

Acquisition by majormarket player in 5 years or IPO?

Copyright © 2012 Template.org

Your Logo Here Company Address Here

Practice Saying it QUICK

My Company (NAME)

is developing / starting (BUSINESS IDEA),

to help / serve (TARGET MARKET),

(SOLVE WHAT PROBLEM)

by (HOW YOU DO WHAT IS NOT BEING DONE NOW).

Try to Say Your Pitch

60 Seconds

I Only Have One Minute!

How do you tell the rest of the story?

Charts

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Graphs

Pictures

Remember Keep it simple

Keep your poster simple and uncluttered. Use calm, contrasting, and complementary colors. Use only one or two fonts; do not use all capitals, which are more difficult to read.

Make it visually interesting

Use color, graphics, photos, and other visuals to illustrate your topic (a picture is worth a thousand words.)

Make it readable

Make text readable from 5 feet or more away. Use bullets for main points. Details can be included in your conversation or on a handout.

Practice, practice, practice

There is no substitution for advance preparation. Create your 30-second "elevator pitch" to explain your poster to people as they look at your poster, and practice the pitch with your colleagues.

Important Points

Tell a good, exciting story

Be consistent

Focus on a very few priorities

Be realistic in financial projections

Be prepared to address the downsides

Clear, Concise and Convincing

HAVE FUN WITH IT!

Your Enthusiasm will overcome a lot!

If you don’t LOVE your idea, it will be hard for someone else to.

Financials (1 Page)

Cash Flow Statement (3-5 years) Break down one year monthly

Income Statement (3-5 years)

Sources and Uses: Need for business loan, possible investors

Balance Sheet

Sales/Income Projections

Break-Even Analysis

What are the key cost drivers?

Knowing you are going to make all this money makes it even better!

QUESTIONS???