New Business Venture Competition
On March 31, 2016 this schedule will be followed:
Noon – 1:00 Trade fair display set-up
1:00 – 2:00 Trade fair
2:00 – 2:15 Elevator Pitch
2:15 – 3:45 Business plan presentations
3:45 – 4:00 Break
4:00 – 5:30 Business plan presentations
5:30 – 6:00 Informal judge feedback
6:00 – 7:00 Reception
- Drinks will be available throughout the day for contestants.
- All contestants must be present.
- The events will be organized on the campus of Northern Michigan University.
- All the events except the Feedback Session are open to the campus community and visitors.
Trade Fair Presentation
Each individual and team contestant will be provided with a six-foot table in a large room to display prototypes or artifacts or information materials and flyers relating to the product/service the contestants are proposing in their new ventures.
Members of the team or the individual (in case of individual contestant) must be present at their designated tables to describe their displays and answer questions to visitors. All contestants should be versed in the venture to be able to explain it to visitors in 2-3 minutes.
The Trade Fair will last an hour and be a public event.
Individual tables will be judged for a prize for the Best Trade Fair Presentation. Thus, the products or services should be presented in a professional, attractive and informative way.
Elevator Pitch Competition
One member of each team, and in the case of an individual contestant that individual, will make a presentation to the panel of judges. In the case of teams, the team will select their presenter. The order of the presentations will be selected randomly.
The pitch is an oral presentation made without interruption in sixty seconds.
The pitch, while demonstrating communication skills, describes the business proposal succinctly and persuasively so much so that the judges, if they were actual venture capitalists, would be eager to fund it.
There is a prize for the Best Elevator Pitch.
Business Plan Presentation Guidelines
- Each team will make an oral presentation of their Business Plan to a panel of judges. Note that the judges will already have a copy of the written Business Plan.
- All contestants must be present at the presentation.
- A maximum of 20 minutes for presentation and 10 minutes to answer questions from the judges will be available to each team or individual contestant.
- The use of audio-visual equipment and any props for the presentation is encouraged. Such equipment will be provided. Contestants must inform the organizers in advance (seven days notice) of their audio-visual needs.
- The order of the presentations will be selected randomly. The presentations are open to all including other competitors, students, faculty, staff and visitors to campus.
- Judges will provide feedback to the contestants on their performance at a separate session.
- There are three prizes – first, second, and third. The prizes are awarded considering both the written and oral components of the Business Plan.
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