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Entrepreneurship Contest 2011

Entrepreneurship Contest 2011. Sponsored by. Introduction to SpaandanB. SpaandanB is a NRB-run non-profit organization based in USA that implements and supports projects primarily in Bangladesh. Since 1998, SpaandanB has implemented and/or supported projects intended to:

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Entrepreneurship Contest 2011

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  1. Entrepreneurship Contest 2011 Sponsored by

  2. Introduction to SpaandanB • SpaandanB is a NRB-run non-profit organization based in USA that implements and supports projects primarily in Bangladesh. • Since 1998, SpaandanB has implemented and/or supported projects intended to: • Establish education • Remedy health and wellness needs • Enable sustained subsistence • SpaandanB either initiates its own projects or supports projects initiated or proposed by other organizations or individuals.

  3. Project Vision WHAT Promote a sustainable culture of entrepreneurship in Bangladesh and facilitate worthy entrepreneurial ideas to fruition. HOW Phase 1: Pilot • Provide a fund of USD 15,000 • Solicit, screen, select, and help support entrepreneurial ventures through a contest • Select up to 5 worthy venture ideas and fund adequately thru completion of feasibility • Selection will be based on pre-specified criteria Phase 2: Pivotal • Target 1-2 successful venture from Phase 1, Implement commercialization. • Using data from Phase 1, raise fund at larger scale to facilitate commercialization • Implement a Seed Funding model: Seed money will be returned to SpaandanB, alternatively SpaandanB will take limited ownership; terms to be much more favorable than what contestants may find in the financial markets

  4. Phase 1 (Pilot) Contest: Scope • Promote innovation in socially conscious products/services • Project ideas may include any of the following: • Business Plan for a new product or service to offer to the market, • Business Plan for a creative business model for anexisting product or service

  5. Phase 1 (Pilot) Contest: Criteria Participant Criteria • Recent graduates or last semester students from undergraduate, graduate, and polytechnics institutions • A list of 12 Institutions has been made to ensure diversity of backgrounds Team Criteria • Create at least 3 member team, not to exceed 5 for the presentation • Participants can be from any discipline • Non-students may be members of the team, but team leader is a member of the targeted institutions Selection Criteria • Social impact of the idea • Clarity of idea • Sustainability of business model • Analysis of opportunity • Growth strategies • Proposed use of prize money • Winner will receive money only on a milestone basis, as required during implementation of business plan

  6. Phase 1 (Pilot) Contest: Process Accept Applications at participating institutions SpaandanB selects top 25 teams for competition Teams present business plan in front of a panel of judges representing different industries • Promote a sustainable • culture of entrepreneurship in • Bangladesh • Support worthy entrepreneurial ideas to fruition. • Winners selected based on: • Quality/Clarity of idea • Good match with available funding Winners receive money based on need during implementation phase Possible mentorship provided by the panel of judges

  7. Contest Application Participants will submit a project concept paper, to include: • Project objectives and how they align with the pre-specified criteria (100 words) • Team Introduction (Members’ background, Members’ Value proposition) • Abstract of the proposal (200 words) • Utilization steps of the prize money (100 words)

  8. Top 25 • Will create a business plan in detail, to include but not limited to: • Business potential • Proposed implementation plan: Includes tasks and milestones, management team • Proposed use of prize money: Includes capital and operational costs.

  9. Presentation • Teams will have opportunity to present in front of a panel of judges, brought in from diverse industries • 10 minute presentation, followed by 5 minute Q&A • Teams will be judged on clarity of presentation and effectiveness potential of the business plan

  10. Relevant Contacts • Mr. Masih Rahman (Program Coordinator) • Event Coordinators • Md. Asif Muztoba Khan • Syed Naasik Hasan • Mostafizur Rahman • S. M. Solaiman

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