Winners of Union College's Third Annual Business Plan Competition!!
Business Plan Presentation:
1. Votto Vines
2. Rhe-Aux Technologies
3. ComDry
Elevator Pitch:
1. No Hands
2. Rhe-Aux Technologies
Congratulations to the winners and all the teams for competiting.
Union College's Third Annual Business Plan Competition
Sponsored by the Entrepreneurship Club
The E Club is hosting a business competition for Union College
students. There will be a highly qualified panel of judges in addition
to our Entrepreneur in
Residence, Les Trachtman.
For the competition, we are soliciting full, finance-able and viable
business plans for review.
1st Place: $225 Staples gift certificate and 1-year free affiliation with U-Start Business Incubator and all expense paid trip for 2 to New York City
for a night at the Cornell Club and a meeting with a business Executive.
2nd Place: $175 Staples gift certificate
3rd Place: $125 Staples gift certificate
Elevator Pitch: Seperate competition: 1 person from team is given 90 seconds to pitch
their business idea.
No props or electronics may be used. Note card is acceptable but not recommended.
1st Place: $150 Staples gift certificate
2nd Place: $75 Staples gift certificate
Important Dates Include:
February 14, 2008: Team Registration Must Be Submitted to shahj@union.edu
February 21, 2008: All Business Plans must be submitted by e-mail
to: shahj@union.edu (Jay Shah) as an attachment. If worried about formatting issues, please put in PDF format.
February 28, 2008: Business Plan Competition Finals: Final Round, Plans Presented w/
Powerpoint Presentations in Reamer Campus Center Auditorium. Begins promptly at 5:30 pm. Winners will be announced after competition.
Not sure where to start? Need Help? Contact us! For more information contact:
Jay Shah - shahj@union.edu 319.389.6846 (c)
Hal Fried - friedh@union.edu
Rules and Regulations:
1) All Team members must be full time, matriculated Union
College Students that pay a student activities fee.
2) Teams may not have more than 5 team
members.
3) All plans presented must be "Fundable."
4) The limit for the business plan submissions is 50-pages (excluding appendices).
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Criteria for Judging:
How are Business Ideas Evaluated?
Ideas entered in the competition should have a legitimate chance of
becoming
sustainable business by:
- Presenting a innovative idea
- Creating value by filling a need in the marketplace and achieving
a prominent market position
- Demonstrating the ability to execute a sound strategy
- Generating and managing an acceptable growth rate in its market
- Having an effective plan for the deployment of seed capital
Some of the questions that a business plan should answer are:
Potential for Revenue Growth & Profit
- What is the expected time and amount of pay-off to investors?
- What is the business model?
Likelihood of Reaching Market
- Is the team focused on its target market?
- What is the amount of up-front capital investment required?
- How long will it take from the current stage of development
to bring this to market?
- Who will be the first customer(s)?
Competitive Advantage & Potential for Market Leadership
- Is the business defensible from competitors?
- Can this venture achieve a leadership position in its market?
Sustainability of Success
- What comparisons are there to past success stories that indicate
this venture will succeed?
- Does the team have a clear plan for spending the investment
money it receives?
- Why is this business going to be around in 5 years?
Management Team
- Is the team of sufficient breadth, balance and quality to make
its ideas happen?
- Will the ego of the founder(s) get in the way of success?
- Does the team have the necessary communications skills to present
a compelling story?
- What roles will the team members play in the venture?
- Are the team members dedicated to the venture and their roles
in the group?
Stage of Idea Development
- Is the business opportunity as presented both highly attractive
and clearly realistic?
- Do the market and financial projections demonstrate that the
team understands its business?
- Has the team gone out to the market already to test its ideas?
- Is the reader familiar with and interested in the given market
space?
- Is the plan clear and well-written?
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