Contestants whose submissions have been selected as finalists for the Competition must submit an electronic written Business Plan for the proposed venture by 5:00 p.m. on Friday, March 26, 2021 to email@example.com.
The Business Plan expands and elaborates on what was presented in the Business Proposal.
A small stipend is available to the individual or team to defray costs of preparing the Business Plan. See Expense Policy for more details.
Guidelines for Writing the Business Plan
Plans must be in writing and is limited to 20 pages of text (typed double-spaced, 12 point font, 1” margins on all sides, and paginated) and a maximum of 10 pages for appendices.
The Business Plan must include the following:
- Executive Summary: provides a concise and compelling overview of the proposed
- Industry Analysis: provides an overview of the industry in which the business will
operate. The analysis should illustrate knowledge of trends within the industry
and explains how the business will take advantage of projected trends. It will
also focus on the target market (the proposed customer base) and provide
information on number of potential customers, with information including, but not
limited to, income and spending habits. Industry analysis will also identify
potential competitors, explaining the differentiating factors that give the proposed
business a sustainable competitive advantage and how the business will
compete in the market.
- Marketing Plan: describes the strategies that will be used to reach the target
market about the venture’s products and services and details sales and
- Operations: describes how the venture will be managed and how the
goods/services will be produced. It also discusses how the business will grow
and how it will cope with the demands of expansion. The technologies needed
for running the proposed business should be identified and a plan presented for
acquiring the necessary equipment. Operations also provide details on the
ownership and management structure.
- Financial Plan: provides a multi-year financial outlook based upon assumptions
made throughout the Business Plan and includes pro forma financial documents
including startup costs, cash flow, balance sheet, operating costs, and a
- Submitted plans are not limited to including only the items described above, and
there is no required order for discussing these items. For additional information
see the Business Proposal guidelines.
Contestants can consult any sources they deem appropriate, including the following websites on how to prepare a business plan:
The written Business Plan must be submitted electronically at firstname.lastname@example.org
Contestants are encouraged to consult with and utilize coaches, such as faculty members, business persons, entrepreneurs, friends, parents or other mentors.
What Happens After Business Plans Are Submitted
Written Business Plans are forwarded to a panel of judges for review prior to competition day. These judges are drawn from the business community.
Competition day will be Thursday, April 8, 2021, and the schedule of events can be seen here
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