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The 9 TH Annual Rutgers Business Plan Competition

The 9 TH Annual Rutgers Business Plan Competition. Sponsored by the New Jersey Sales Executive Foundation. Welcome!. Thank you for coming today. I’m Dr. Richard Mammone Director of The Best Institute My presentation today will briefly cover:

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The 9 TH Annual Rutgers Business Plan Competition

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  1. The 9TH Annual Rutgers Business Plan Competition Sponsored by the New Jersey Sales Executive Foundation

  2. Welcome! Thank you for coming today. I’m Dr. Richard Mammone Director of The Best Institute My presentation today will briefly cover: Rutgers success in commercializing innovation Business Plan Sponsors (including BEST) Business Plan Competition Rules Important Dates

  3. Rutgers: A Proud Tradition of Commercializing Innovation ASK.COM 1990’s search company got its start in the labs of Rutgers University. It employs over 200 in Middlesex County, NJ. The Rutgers Jersey Tomato was first introduced in 1934 as an ideal canning tomato used by Campbell’s, Heinz, and Ritter, and is the preferred choice of 75% of commercial growers. • StreptomycinAntibiotic was discovered and brought to market by Selman Waksman in the 1940’s

  4. Other Technology Transfer Successes • The Center for Turfgrass is the nation’s largest – varieties of Rutgers turfgrass are used at Yankee Stadium, Central Park and the White House Law. • The Crimson Queen, the second cranberry in the history of the United States to be patented, was licensed to more than 40 grower-members of the Ocean Spray cooperative. Rutgers began receiving royalties on its patent this year. • Rutgers has supported 59 start-up companiessince 1989; 39 are based in NJ. In total, these start-ups have received follow-on venture financing of more than $160 million.

  5. Business Plan Competition Objective • To encourage the development of business plans that have the potential to become an engine of economic growth and job creation in New Jersey • To give students a unique business world perspective that will enhance their academic experience 

  6. This Year’s Business Plan Competition is Hosted by: • The Rutgers Business Schools of New Brunswick and Newark, • The Center for Urban Entrepreneurship and Economic Development, • The Rutgers Entrepreneurial Society, and • The Business, Engineering, Science and Technology (BEST) Institute

  7. What is BEST? BEST is a new newly formed organization dedicated to educating Rutgers undergraduate and graduate students in entrepreneurship by immersing them in the science of business via hands on experience (regardless of their major). BEST is located in the CoRE Building on Busch Campus - Facilities include: BEST Institute’sBusiness Information and Simulation (BIS) Lab/Mentoring Lounge - Students teams can brainstorm using our specialized business plan software, while meeting with mentors from the New Jersey Business community to discuss the practical application of their entrepreneurial ventures. BEST Institute’s Idea Cafe - Where students, faculty, and local entrepreneurs can get together to discuss their ideas for new businesses over a shot of espresso. 7

  8. Why participate in the Business Plan Competition? • Access to invaluable resources provided by business plan workshops and mentors from the New Jersey Entrepreneurial Community • $35,000 in Prizes! • Wherever your passion lies, whether it’s in the creation of a new business, applying your industry experience to the growth of the a start-up, or being part of a team with a vision to make an idea come to life; the RBS Business Plan Competition has something for you.

  9. $35,000 in Prizes and Much More! • $25,000 will be awarded to the First Place Winners • $10,000 will be awarded to the Second Place Winners • Contestants will be privy to a wealth of information designed to enhance their proposals.  • Access to mentors through the SCORE Website will help participants develop their plans into solid businesses with real world growth potential. 

  10. Rutgers Business Plan Competition Official Rules

  11. Eligibility • The competition is open to Rutgers University students of ALL disciplines, campuses and levels including: undergraduates, graduate students, and recent alumni from 2006 or later. • There MUST be at least one Rutgers Business School student on each team.  This student must have a leadership role within the team and be an undergraduate senior, a graduate student or a recent graduate of Rutgers University.

  12. Intellectual Property/Confidentiality • Competition presentations will be open to both the Rutgers community and the general public.  Judges, mentors, and staff will not be required to sign confidentiality agreements.

  13. 1st Round Business Plan Submission • First Round Business Plan submissions are due via the BEST website on Wednesday, April 1st, 2009 at 11:59 pm. • Plans must be limited to 20 pages in length.  An additional 20 pages will be given for appendices, including financial statements.  Balance sheets, income statements, breakeven analysis, cash flows and use of proceeds should be outlined in the financial statements.  The use of proceeds should be described for both the $25,000 and $10,000 prize levels.

  14. 1st Round Finalist Selection • On, or before, April 15, 2009, five Business Plans will be selected to compete in the final round of the Competition. • The finalists will be provided preliminary comments from the judges.

  15. 2nd Round Business Plan Submission • Final Business Plans, together with a 15 minute PowerPoint Presentation, must be submitted to the BEST website no later than Friday, May 1, 2009 at 11:59 pm. • Business Plans will be judged according to the following criteria: • 40% - Written Business Plan, • 30% - 15 minute PowerPoint Presentation and • 30% - Viability of the entrepreneurial venture.

  16. Business Plan Competition Final Judging & Awards • Thursday, May 14, 2009 the five finalist teams will each give a 15 minute PowerPoint Presentation to the judges panel • Each presentation will be followed by a 15 minute question and answer session. • First and second place winners will be announced later in the day. • $25,000 will be awarded to the 1st Place Company. • $10,000 will be awarded to the 2nd Place Company.

  17. Rutgers Business Plan Competition Resources & Templates

  18. SCORE Website • http://www.score.org/template_gallery.html • Free business plans for downloading • Online access to mentors • Extensive resource links

  19. Business Plan Table of Contents • I.Table of Contents • II.Executive Summary • III.General Company Description • IV.Products and Services • V.Marketing Plan • VI.Operational Plan • VII.Management and Organization • VIII.Personal Financial Statement • IX.Startup Expenses and Capitalization • X.Financial Plan • XI.Appendices • XII.Refining the Plan

  20. Financial Statements • Balance Sheet • Cash Flow • Income Statement • Breakeven analysis

  21. Rutgers Business Plan Competition Important Dates

  22. Business Plan Executive Summaries Due • Monday, March 2nd, 2009 at 11:59 pm - Participants must submit their names and email address in conjunction with their Executive Summaries (1 - 2 pages) to our website by 11:59 pm.

  23. First Round Business Plans Due • Wednesday, April 1st, 2009 at 11:59 pm - Participants must submit their Business Plans to our website. • Judges will select five (5) semifinalist teams with the best proposals as outlined in the Competition Guidelines. • Semifinalists will be notified of their advancement to the final round of the competition on, or before, April 15th.

  24. Finalists’ Revised Business Plans Due • Friday, May 1st, 2009 at 11:59 pm – Finalists’ Revised Business Plans and PowerPoint Presentations must be submitted to our website

  25. Business Plan Competition Final Judging • Thursday, May 14th, 2009 - The finalists will give a 15 minute PowerPoint to the judges panel. • After their deliberation, the Ninth Annual Business Plan Competition Awards Ceremony will commence.

  26. Join a team today & become a part of the Rutgers Business School Business Plan Competition!

  27. For More Information 27 Dr. Richard Mammone Director, The Best Institute Rutgers, The State University of New Jersey CoRE Building Room 703, Busch Campus Piscataway, New Jersey 08854 Tel: 732-445-5554 Tel: 888-594-0080 Toll Free mammone@rutgers.edu http://www.best.rutgers.edu

  28. BEST Institute’s Idea Cafe • Where students, faculty, and local entrepreneurs can get together to discuss their ideas for new businesses over a shot of espresso.

  29. BEST Institute’s Business Information and Simulation (BIS) Lab/Mentoring Lounge • Students teams will be able to brainstorm using our specialized business plan software, while meeting with mentors from the New Jersey Business community to discuss the practical application of their entrepreneurial ventures.

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