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The University of Dayton Business Plan Competition

The University of Dayton Business Plan Competition. A special thanks to our sponsors. UD National Alumni Association. Overview of today’s presentation. What is a Business Plan competition? Elevator Pitch Cameo Round ◄ The new wrinkle! Finalist round

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The University of Dayton Business Plan Competition

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  1. TheUniversity of Dayton Business Plan Competition

  2. A special thanks to our sponsors UD National Alumni Association

  3. 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

  4. 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)

  5. 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

  6. 3 Stage CompetitionPrize Money: $59,000 overall

  7. 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

  8. 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.

  9. 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.

  10. What are the 6 areas of an Elevator Pitch? • Introduction • Problem Statement • Opportunity • Resources Required • Returns to Investor • Tag line and closing

  11. What do the EP judges look for? • Novelty/Cleverness/Usefulness • Quality of Benefits provided • Competitiveness • Growth Potential • Ability to Execute • Quality of presentation

  12. 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.

  13. 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

  14. 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

  15. 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

  16. 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

  17. Why enter a business plan competition? • Entrepreneurship courses teach three critical items • Spotting opportunities • Planning to seize those opportunities • 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.

  18. 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

  19. 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

  20. 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.

  21. What if you don’t have an idea yet? • We’ll help you generate many good ideas • We’ll help facilitate partnerships with people who do have ideas. • We can help you succeed

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