2015 Be Your Own Boss Bowl

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2 2015 Be Your Own Boss Bowl Business planning competition for aspiring and early-stage entrepreneurs from Temple University 17 th annual competition Managed by the Innovation and Entrepreneurship Institute a top 15 nationally ranked program One of the richest-prize competitions in the country

3 BYOBB Objectives Launch companies Learn new skills Create economic impact

4 What s New This Year? More prizes 13 in total! Tied to requirements of accelerators, investors Shorter business plan format Pitch deck required Two minute video optional Business Model Canvas optional Follow-through (Accelerator) It s all online

5 Prizes and Recognition TOTAL PRIZES OVER $200,000 Grand Prize: $45,000 Summer Accelerator program Legal, accounting, marketing services Temple PR

6 BYOBB Important Dates December 3rd Info Session, 12-1pm December 4th Info Session, 5-6pm January 20th Info Session, 5-6pm March 17th Plans Due April 1st Finalists Announced March10th On-Demand Mentoring Session, 5-7pm March 13th - On-Demand Mentoring Session April 8th Scrub Day - Finalist Presentations April 16th Final Presentations and Awards Ceremony

7 Who is Eligible? Leader of the team must have a Temple University affiliation All Temple University students, alumni, staff & faculty New business or an existing business (less than two years) that has not yet raised more than $50k from external sources. Cross-discipline teams are encouraged

8 Compete in three tracks Tracks - Undergraduate Students - Graduate Students/Staff/Faculty/Alumni - Social Impact Any team not comprised of solely undergraduate students must compete in Graduate Student/Staff/Faculty/Alum track Social entrepreneurship businesses are encouraged to participate

9 Social Impact The Social Impact track is for new ventures whose primary focus is to create social value. Unlike a traditional business venture with their focus on profits, social ventures pursue the double bottom line of social impact and financial sustainability. For purposes of the BYOBB, a company whose primary motive is financial, but which donates a relatively small amount of money or time to social causes does not qualify as a social impact firm.

10 Social Impact Entries in the Social Venture Track of the BYOBB must: Incorporate a measurable social and/or environmental bottom line into its mission and practices, and Plan to attain financial self-sufficiency primarily through earned revenues MORE TO COME ON SOCIAL IMPACT STAY TUNED

11 There is Optional Help Available Blackstone Launchpad Submit Opportunity Description Assigned a Mentor Submit Plan Winners Participate in Accelerator Virtuous Cycle

12 Senior Executive Mentor Program Upon completion of a one-page opportunity description, participants will receive a business plan guidebook and a Senior executive mentor. One-on-one mentoring program with mentors from the Greater Philadelphia Senior Executive Group & other orgs Two-way project-based mentoring program Mentors may not do any primary work or write plans - Mentors provide feedback, advice and counsel Protégé or mentee: - Drives the plan forward & is the responsible party - Communicates regularly with their mentor - Is respectful of mentor s time and other commitments - Sticks to agreed upon schedule and due dates

13 Opportunity Description One-page document answering: What problem are you solving and why is it awesome? What is your product/service? Who is on your management team? Who are your competitors and why are you better? What type of help could you use from a mentor? (You can use your Idea Competition Submission)

14 What Do You Need to Enter? Business Plan 10 pages max Business Model canvas optional Pitch Deck Two-minute video presentation - optional Financials

15 Sections of the Business Plan Elevator Pitch Opportunity Product/Service Management Team Market Opportunity Competitive Landscape Execution Plan Road Map

16 Financial Section Financials Revenue Model/Financial Assumptions Financial Projections 3 years (attachment)

17 Judging Criteria Must represent realistic and marketable ideas. A well-organized, well-written, sophisticated plan that makes a compelling business case Evidence of thorough research regarding market, industry and competition Sound strategy and revenue model; plan is executable Attainable financials that are grounded in sound assumptions Consistency throughout plan Quality of Presentation (Finalists only)

18 Business Plan Do s and Don ts DO comply with the 10-page limit DO use the template available on the IEI website, DO your homework research! DO use spell check and a professional writing style DO submit a plan that s clear, concise, compelling and complete DO proofread your document prior to submitting DON T skip sections DON T turn your plan in after midnight

19 Start Early! Plans are due in about 3 ½ months start now! Break it down into chunks and stick to a schedule Allow time for re-writes, more research, exams, glitches at work, etc. Take advantage of winter break

20 163 registered teams 2014 BYOBB At a Glance TO BE UPDATED About 180 people competing (total) 55% Upper track, 45% undergraduates 13 schools and colleges within Temple 103 senior executive mentors, majority from GPSEG 213 preliminary judges Grand prize: Guiding Technologies (John Nosek Faculty CST) helping individuals with autism reach their full potential at less cost.

21 Past BYOBB Winners 2009 Pit Bull Development (Alum, School of Tourism and Hospitality Management) 2010 Next Engineering (Undergraduates, College of Engineering) 2011 purenano (Graduate Student, Fox School of Business) 2012 PHmHealth (Alum, Fox School of Business) 2013 Neighborhood Foods (Alum, Fox School of Business 2014 Guiding Technologies (Professor, College of Science and Technology

22 15 Spring Business Planning Workshops 4:00 to 5:30 p.m. 503D Alter Hall Date Jan 27 Feb 3 Feb 10 Feb 17 Feb 19 Feb 24 Topic Assessing Ideas Creating Winning Business Models Market Segments and Value Propositions Cash Flow, Profits and Financials Competitive Analysis Pitch Decks (May be repeated)

23 Additional Temple Resources Executives/Entrepreneurs in Residence: Temple business Paley Library Legal clinic at the Temple SBDC Business Communication Center (Fox Students) Writing Center Business Plan classes IEI Staff (by apt) and IEI Resource Center IEI mentor/subject matter expertise network Online

24 Be Bold Be Resourceful Be Innovative Be Your Own Boss #BYOBB2015

2015 Be Your Own Boss Bowl

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