Mid Hudson Regional Business Plan Competition hosted by Marist College April 13, 2018 MHRBPC http://www.marist.edu/mhrbpc/ 2017 Sponsors:
PAST REGIONAL PARTICIPANTS No official U.S. Government or Service Academy endorsement is implied. The views and opinions expressed by this organization do not necessarily state or reflect those of the U.S. Military Academy, Department of the Army, or Department of Defense.
Regional Partners Thank you for your hard work and support! David Gavin, Marist College Helene Rude, Marist College Roberta Diggins, Marist College Melissa Smith, Marist College Tony Fareed, Marist College Jay Pantaleo, Marist College Scott Willmen, Dutchess Community College Donald Urmston, SUNY Orange Lissa Young, United States Military Academy at West Point
Eligibility Requirements Open to all undergraduate and graduate students from accredited colleges in the Mid-Hudson region Must have been enrolled during the 2017-2018 academic year Teams of 1-6 students Must have a faculty or staff advisor; offering guidance, support and technical expertise Ventures should fall into one of the following categories: Clean Tech Information technology/software Development Advanced Technology Products Services Social/Non-Profit Student teams will be asked to identify the category for their venture Students may not participate on more than 1 team each year of the competition Cumulative public and private capital raised may not exceed $100,000 Student ownership of the venture must be 100%
Prizes Depending on 2018 sponsorships, prize money may be awarded at the regional competition to the two top teams from each category A maximum of two teams from each of the 6 categories will be invited to the statewide final competition held in Albany on Friday, April 27, 2018 What s up for grabs at the state level? Inpast years there was over $500,000 in cash and in kind prizes Last year s grand prize winning team took home $100K in cash and in-kind services 2017 Grand Prize Team 2016 http://varausa.com/
NYS Competition History
Since 2010, over 4,000 students have participated and 132 ventures are still operating today. Businesses launched from the competition have gone on to raise over 45M.
Additional Benefits Ventures are able to showcase their business/technology to an audience of seasoned business professionals and investors Network with potential investors, service providers, strategic partners, and seasoned executives Network with other like-minded entrepreneurs from cross NYS Gain valuable experience
2018 timeline Currently Applications accepted for regional competition- teams should begin fine tuning their ideas. Regional Champions engage in outreach for participants and event sponsors March 23, 2018 Application deadline March 23, 2018 to, March 29 2018 Committee externally evaluate applications April 2, 2018 Notify regional teams selected to present Teams work with mentors to refine pitch April 9, 2018 Final presentations due April 13, 2018 Regional Business Plan Competition April 27, 2018 New York State Business Plan Competition
Judging Judges at the business plan competition rate participating teams based on the following criteria: Compelling Idea/Venture Founders & Team Pitch Quality Judging rubric categories: MARKET OPPORTUNITY - Clear market need and a plan to take advantage of the need. COMPETITIVE ADVANTAGE - The product or service is something unique that has a protectable competitive advantage in the proposed market. MANAGEMENT CAPABILITY - The team has the skills and experience to develop this company and address the risks associated with the venture. FINANCIAL UNDERSTANDING - The team has a solid understanding of the financial requirements of the business. VENTURE MATURITY - This team has incorporated as a business and is in contact with potential customers. PRESENTATION - The pitch presented the venture in a clear, compelling manner, and answered questions well. INVESTMENT POTENTIAL - The business is a real investment opportunity in which you would consider investing.
Sample Format Company Name at the top of each slide 1. Mission and purpose 2. Business model A. How will your business generate sustainable profits? Value Proposition Key strategies B. Company history When and why was the company formed? What is the ownership structure; principal stakeholders 3. Product Describe the product or service Customer benefits Differentiation from competitors How to keep others out, barriers to entry (e.g. patents, proprietary process, competitive advantages, etc.) Keep technical description to a minimum 4. Markets Who are the key customers (Names, demographic profile, etc.) Size of markets and growth rate How to reach these markets Other trends likely to influence market 5. People Management team and relevant experience especially that which is related to start-ups Industry experience Other key people and advisors Number, mix and capabilities of employees 6. Financial Current sales/sales anticipated in 3 years (pricing and volume) Margins Relative to financing needs How much is needed, and when How will it be used How it will be repaid to investors and/or debtors (if applicable) 7. Achievements to date Important milestones Next Steps
Case in Point: 2013 Grand Prize Team WordsEye
2014 1 st Place Products & Services KettleShell
Final Case in Point One of the first grand prize winners http://www.ecovativedesign.com/