2009-2010UD Business Plan Competition
www.udbpc.com
Department of Management & Marketing, School of Business Administration
A special thanks to our sponsors
UD National Alumni Association
Overview of today’s presentation
What is a Business Plan competition? Elevator pitch Finalist round Prize money Key dates Support Q & A/Drawing for prizes
What is a Business Plan Competition?
Investigate a new business opportunity– Markets– Competition– Costs and benefits
Write 11-part business plan in common format Present your plan
UD BPC: A 2-stage competition
Stage 1: Elevator Pitch– One page entry form with information about your product/service– Deliver 1 minute elevator pitch– Judges select five finalists and top ten elevator pitches
Stage 2: Finalists– Finalists write a full business plan during the spring term– Present their plans to judges in March (20 minute presentation)
UD BPC prize money: $50,000 overall
Finalist Round
1st Place $20,000.00
2nd Place $10,000.00
3rd Place $ 5,000.00
4th Place $ 3,000.00
5th Place $ 3,000.00
Elevator Pitch
1st Place $ 1,500.00
2nd Place $ 1,250.00
3rd Place $ 1,000.00
4th Place $ 500.00
5th Place $ 500.00
6th-10th $ 250.00
Stage 1: How the competition works
Entries can be solo or team (8 person maximum) Open to everyone-two entries per person Finalist teams must include UD students or alums
More on how Stage 1 works
First stage is easy to enter: 1 page, 1 minute Can withdraw if you can’t do the full plan Five finalists selected from the first stage…
– Write a full business plan– Are guaranteed to win at least $3,000
What is an Elevator Pitch?
In a one minute presentation you… – Present your idea– Cover six general areas– Judges ask no questions…you simply
present
What are the 6 areas of an Elevator Pitch?1. Introduction
2. Problem Statement
3. Opportunity
4. Resources Required
5. Returns to Investor
6. Tag line and closing
What do the EP judges look for?
1. Novelty/Cleverness/Usefulness
2. Quality of Benefits provided
3. Competitiveness
4. Growth Potential
5. Ability to Execute
6. Quality of presentation
Stage 1: Application process
1 page application– Opens 14 September, 2009– Closes 11 November, 2009
What we ask you to tell us – Demographic information– 6 areas of elevator pitch
Elevator Pitch stage:Key dates
Sept.14th: Online system opens Sept. 25th-Nov. 6th: Five open coaching sessions Nov. 11th : Application deadline Nov. 6th, & 13th: Dress rehearsals Nov. 21st: Elevator pitch Dec. 2nd : Finalists announced
Stage 2: Finalist process
Finalist teams…– Are notified of their status on 2 December, 2009– Are paired with Mentors (15 hours of Mentor time per team)– Are provided free training sessions
During Spring 2010 term…– Teams develop Business Plans– Create presentation slides for judges
Stage 2: Final presentations
Each finalist team…– Has 20 minutes to present to judges– Will take questions from judges for ten minutes– Can use props, multi-media in presentation
Other rules…– 0rder of presentations is random and not announced in advance– Entire team must be present, but not all team members have to
speak
What do finalist judges look for?
Quality of the idea Quality of the written plan Quality of the oral presentation Quality of the financial analysis Quality of the team
Stage 2 key dates
Dec. 2nd: Five Finalist teams announced Dec. 11th: Team membership finalized Mar. 12th: Business Plan due (electronic PDF) Mar. 15-16th: Dress Rehearsal Mar. 27th: Presentations Occur Apr. 8th: Winners announced
Why enter the UD business plan competition?
Entrepreneurship courses focus on…A. Spotting opportunities
B. Planning to seize those opportunities
C. Executing the plans
Our goal is to make these steps easier/simpler
Why is this a good resume line?
It’s a competition, so you outperformed others Great ideas suggest leadership and creativity Great presentations suggest great communication skills A Business Plan shows you grasp the “big picture”
Eligibility:Plan parameters
Work must be original--plans checked for plagiarism. Start-ups acceptable up to one year old. Non-profits are acceptable, but judged the same as others Plans cannot violate Marianist values or conflict with UD mission Plans must be legal Plans cannot have a liquor license Anyone may enter up to two plans, but can only be a finalist once. Students can’t be serving a university suspension during the
competition
Support for entrants
Five coaching sessions during the fall, 2009 Optional rehearsals for elevator pitch Coaching sessions for all finalist teams Business mentor assigned to each finalist team Access to market research, planning tools, etc.
Coaching sessions and rehearsals
Sept. 25th Opportunity Recognition
Oct. 2nd Adding Wow!
Oct. 23rd From a Product to a business
Oct. 30th Financials
Nov. 6th Adding growth to your planNov. 13th Dress Rehearsal Nov. 20th Dress Rehearsal
What if you don’t have an idea yet?
We’ll help you generate many good ideas
We’ll help facilitate partnerships with people who do have ideas
Any other questions?
Top Related