the university of dayton business plan competition
TRANSCRIPT
Overview of today’s presentation
What is a Business Plan competition? Elevator Pitch Cameo Round ◄ The new wrinkle! Finalist round Prize money ◄ $59k this year! Key dates Support
What is a Business Plan Competition?
It’s where you investigate an opportunity for starting a new business– Markets, costs, competition, benefits
You present a 1 minute overview of the opportunity– “back of the cocktail napkin”
Finalists write up their findings in a commonly used format (the business plan has 11 parts)
Ours is a 3-stage competition
Stage 1—Give a one minute speech, write one page of information about your product– Judges select ten semi-finalists, and also identify
top ten oral presentations Stage 2---The ten semi-finalists write up 2-3
pages and talk for five minutes. Judges select five finalists
Stage 3---Five finalists write a full business plan during the winter semester
3 Stage CompetitionPrize Money: $59,000 overall
Prize Elevator Cameo Finalist
1st Place $1,500.00 $1,000.00 $20,000.00
2nd Place $1,000.00 $1,000.00 $10.000.00
3rd Place $500.00 $1,000.00 $5,000.00
4th Place $500.00 $1,000.00 $3,000.00
5th Place $250.00 $1,000.00 $3,000.00
6th-10th $250.00 $1,000.00
Plus a chance for even more money!
The three highest placing finalist teams will be invited to pitch the Connor Foundation Seed Fund for an additional $50k investment!
We also network our finalists to other competitions and potential investors as well
How our competition works—
Three stage competition Solo or team effort (teams 1-8 in size) 1st & 2nd stages open to everyone-two entries
per person Finalist round must include current UD
students or UD Alumni.
What is an Elevator Pitch?
It is a one minute presentation where you – Present your idea– Cover six general areas
In our elevator pitch, Judges don’t ask you questions—you have one full minute to 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
Elevator Pitch Stage:Application process
Application:– Opens 13 September, 2010– Closes 20 October, 2010
What we ask you to tell us – Demographic information– 6 areas of elevator pitch
Space limited to roughly one page.
Elevator Pitch & Cameo stages: Key dates
September 13th: Online system opens October 20th : Application deadline October 22nd, & 29th: Dress Rehearsals October 30th: Elevator Pitch November 20th: Cameo Round December 3rd : Finalists announced
Final Plan Stage:Process
Finalist teams notified on 3 December, 2010 Teams are paired with Mentors. Each team given 15 hours of Mentor time. Coordinator will conduct training sessions for
all teams Teams prepare Business Plan, presentation
slides during the winter semester
Final Stage:Presentation
Each team given 20 minutes to present, plus ten minutes Q & A time– Props, multi-media are acceptable– Break after 3rd presentation
Order of presentations is random, and announced the day of presentations
Full team must be present, but not all team members are required to speak
What do finalist round 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
Why enter a business plan competition?
Entrepreneurship courses teach three critical items
A. Spotting opportunitiesB. Planning to seize those opportunitiesC. Executing the plans.
Many people have great ideas, but are scared of parts “B” and “C”– our goal is to make those steps easier and simpler.
Why is this a good resume line?
It’s a competition, so you outperformed others Spotting opportunities suggests leadership and
creativity Good presentations suggest good
communications skills Business Plans are “big picture”, they
demonstrate how you can see the entire 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.
– E.g. no payday loans, etc. Plans must be legal
– (e.g. no DVD pirates). 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
Free individual instruction with the BPC Director
On-line coaching sessions 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.