Urban Innovation21 Small Business Grant Competition

1. Urban Innovation21 Small Business Grant Competition Supporting Small Business Growth in the Innovation Economy

2. Purpose of Grant Competition • Increase minority enterprise ownership; • Create new jobs; • Create enterprises that contribute to the innovation economy eco-system; • Improve community’s quality of life.

3. Purpose of Info Sessions: • To assist you in preparing a business plan summary; • To assist you in making your business case; • Assist you in completing and meeting competition application requirements; (Technical Assistance 6 Hours)

4. Judging Criteria Does submission meet grant intent? - 35 Points • Is it an opportunity for wealth creation or protection? • Is the opportunity to grow or start a business? • Does the proposed business create new jobs? • Do residents gain access to education or training they need to get ahead? • Verify Benefits to Homewood

5. Judging Criteria • Marketing strategy - 20 Points • Is the marketing strategy clear and credible? • Operations plan & management - 20 Points • Does the operating plan support marketing and business goals? • Financial Plan - 25 Points • Do the numbers support your business case?

6. Scoring Guidelines: • Fewer than 51 points: Proposal not considered; • 65 to 75 points application can be considered for up to $5,000 award; • 76-85 points application can be considered for up to $7,500 award. • 85 to 100 points application can be considered for up to $10,000 award. • 51or above: Application can be considered for zero interest loan award

7. Questions and Answers

8. Business Logic • Make your business case: • What do you sell? And to whom? • Marketing Strategy • How do you meet customer needs? • Operations Plan • Will you make any money? • Financial Plan

9. Business Plan Summary • Follow format; • Business details; • Business description up to 120 words; • Management experience up to 120 words; • Markets up to 120 words; • Financial chart; • Funding request amount / grants or loans, both;

10. Business Plan Summary • Marketing Strategy up to 120 words; • Sales and promotions up to 120 words; • Operations strategy up to 240 words; • Capitalization and finance up 120 words;

11. Elevator Speech The elevator speech is a 60 second presentation about your business, it is your introduction. • Who am I? • What is my business offering? • What problem is being solved? • How big is the problem? (How big is the market?) • What should the listener do as result of hearing your pitch?

12. The Workshops March 8, 2014 10:00 AM to 12:00 PM Class 1 – Start Up Businesses – Homewood Coliseum • Research and Self - Assessment • Writing the Business Plan • The Value Proposition 10:00 AM to 12:00 PM Class 1 – Existing Businesses – Faison Elementary School • Defining how your market is changing • Defining what’s needed to grow • Assess your assumptions March 15, 2014 10:00 AM to 12:00 PM Class 2 – Start Up Businesses – Homewood Coliseum 10:00 AM to 12:00 PM Class 2 – Existing Businesses – Faison Elementary School • Marketing Strategy • Managing credit • Finance March 22, 2014 10:00 AM to 12:00 PM Class 3 - Start Up Businesses – Homewood Coliseum • Business Start-up, Registration, Structural and Legal Considerations • The Elevator Pitch Review • Elevator pitch exercise 10:00 AM to 12:00 PM Class 3 – Existing Businesses – Faison Elementary School • Building out your operating plan • Identifying strategy for key partnerships March 29, 2014/ 10:00AM to 12:00 PM Class 4 – Start Up Businesses – Homewood Coliseum Existing Businesses – Faison Elementary School 10:00 AM – 2:00 PM Business Plan Working Sessions (Time for all participants to work on their plans and consult with coaches) PLANS AND APPLICATIONS DUE: April 5, 2014

13. Questions and Answers