Enter

• Eligibility
• Criteria
• Instructions for Entering

Eligibility

All full-time undergraduate and graduate students registered for the current semester at the University of Maryland, College Park, are eligible to enter the Competition, as are full-time faculty and regular part-time adjunct faculty with an ongoing role with the university. Degree-seeking part-time students on track for completion of an undergraduate or graduate degree including those pursuing part-time programs of study are also eligible. Part-time students must demonstrate progress towards a degree. Team members may include people unaffiliated with the University of Maryland, College Park, provided that at least one of the principal contestants on the team is otherwise eligible. The principal contestant is defined as an officer of the company with relatively equal distribution of company ownership and participation. While teams may include people from the outside community, non-eligible competitors seeking out students to join a team for the sole purpose of gaining eligibility is not allowed. There are no minimum or maximum team sizes, and the number of submissions per team or per individual is not limited. Judges reserve the right to disqualify any entry.

Cash prizes will be awarded based on the judging criteria with amounts and number of prizes determined by the quality of the plans and presentations. Judges have final determination of the number and size of awards.

Criteria

Successful plans generally offer substantial growth potential and high probability for scaling revenues. Generally, technology-based firms, or low-tech firms with pervasive concepts, have the greatest chance of achieving high rates of growth and scale. Plans may also pursue the strategy of creating the double bottom line, providing societal benefit with sustainability. Social responsibility plans may be for-profit, non-profit or a hybrid but must be sustainable.

In light of the broad range of potentially successful plans that have different sets of challenges, and considering that investors seek high return rates but realize that they must balance risk, the competition will use an approach often used by investors -  the “balanced portfolio” approach. This competition will value plans from a broad range of technologies with varying degrees of risk associated with them.  Using the balanced portfolio approach, plans in the field of biotechnology that generally require FDA approval and are typically considered high risk/ high reward due to uncertainties and risk will be considered along side of technologies that can be developed more quickly, with few if any regulatory issues and promise of quicker returns. These might have lower return rates but the risk is also smaller. Plans will be viewed based on potential for success including potential for being in business in five years and/or timeline to a liquidity event. While there are no specific “categories” plans will be viewed individually for their potential. As an additional balance to the portfolio in this competition, ideas that pursue solutions to social problems will be of interest with prizes offered to plans that offer a “double bottom line” – both a financial return and social return. A balanced portfolio for this competition might include some investment opportunities that are a higher risk and some with relatively less risk, and will also include plans that address social needs. Undergraduate plans will be considered with the view to ensure that there is representation in the final selection of winners in the final presentations and that there will be a “Best Undergraduate Plan” if no undergraduate plan is selected as a winner.

For the competition, a range of ideas will be sought and specific areas of interest include but are not limited to:

• Biotechnology ranging from biomedical devices to new drugs
• Technology solutions using software and/or hardware
• Products and Services
• Sustainable solutions to poverty with first and third-world applications
• Sustainable solutions to the deterioration of our planet

All plans in a portfolio must have a return rate acceptable to an investor but for this competition, factors reviewers will be considering include:  

1. Strength of the value proposition
2. Clear competitive differentiation, preferably through unique, protected technology
3. Target markets receptive to new entrants
4. Market size providing opportunity for high growth
5. High potential for sustainable, scaling revenues and earnings
6. Committed Team with appropriate skill sets
7. Time to market and pay-off opportunities for investors
8. Benefit to Society
9. Ability to locate substantial operations in Maryland

COMPANY SIZE AND INVESTMENT STAGE

Company Size - Entries generating revenues are allowed to compete, as long as annual revenues do not exceed $1 million. Companies exceeding $1 million in annual revenues are not eligible.

Investment Stage - Entries receiving institutional investment from venture capital firms or related professional investors are not eligible. Entries receiving limited grant funding, such as SBIR, TEDCO, or DBED grants, are eligible provided that funding does not exceed $1 million.

Instructions for Entering

Format

All entries should be single-spaced with not less than 1" margins on all sides. Use a font not smaller than 12 points in size for text, and not smaller than 8 point font for spreadsheets. Entries will only be accepted in electronic format. You may use Microsoft Word for Windows or PDF for your file format. The header should use the following format: “NAME OF BUSINESS- University of Maryland Business Plan Competition 2009”

Contact sheet

A contact information sheet must precede the executive summary and the full business plan. The primary team contact must meet the eligibility requirements of the competition. Please provide the following information on the contact sheet:

• Business or company name/title
• Names and affiliations of all team members
• Primary team contact name
• Proof of eligibility: (state degree pursued and expected graduation date or faculty position)
• Mailing address
• Primary contact phone number
• Primary contact E-mail address
• Secondary contact name
• Secondary contact phone number
• Secondary contact E-mail address

Additionally, state name, degree pursued and expected graduation for all student team members OR name and faculty position for all faculty members.
State name, position and contact information for any external team members.

Brief abstract of your business idea that will be used to describe your company or idea in press releases and other documents.

Include the following statement on the contact page:

By submitting this executive summary, we agree that the ideas, concepts and the entry itself are the original work of the contestants. We also agree that no contestant is under any agreement or restrictions which prohibit or restrict his or her ability to disclose or submit the ideas or concepts to the competition. Further, we agree that the team and every individual member of the team will comply with the rules and guidelines for the competition and we certify that the team is eligible to compete according to the stated guidelines.

FIRST ROUND

Prepare an executive summary of the business plan

Executive summaries should be 3-5 pages in length, including all graphs, spreadsheets and business plan details. No attachments of any kind beyond this number of pages (plus contact sheet) are allowed. Longer executive summaries and full business plans will be disqualified.

Information to include in the Executive Summary:

• Company description including value proposition (elevator pitch)
• Customer and market Analysis
• Potential market size
• Competitive advantage including any intellectual property
• Management team and their relevant skills
  
• Financial model including overview of revenues and expenses, break-even analysis, and projected timeframes to positive cash flows
• Investment needs including current investment status
• Current stage of Development (product, customers)

Submit the entry

• See the competition timeline for deadlines for each round and for other milestones and events.
• Address problems submitting or questions regarding submittals to Karen Thornton by e-mail or at (301) 405-3677.

SEMIFINAL ROUND

Entrants selected for the semifinal round will prepare a full business plan for submission and prepare a contact sheet that has the same information and format required for submission of the executive summary. 

Guidelines for the business plan

The plan should be up to ten pages in length of actual text (not counting contact sheet, cover page or table of contents) plus up to 5 additional pages of tables, exhibits, figures and appendices. Nothing beyond these page limitations are allowed.

Business Plan Format

• Contact Sheet
• Cover Page
• Table of contents

Executive summary

• Abbreviated executive summary to traditional one-two page length
• Product (i.e., describe the business concept / opportunity)
• Target market
• Value proposition
• Competitive advantage
• Product, process, or new business model
• Intellectual Property
• Customers
• Competitors
• Competitive advantage
• Company mini-history
• Mission
• Team
• Stage
• Business model- Revenue projections- Profit projections
• Any prior funding/Funding needed and potential return for investors

Remainder of the plan builds out detail and includes:

Products or Services

• Understandable brief technical description Value Proposition (Specific human needs addressed)
• Intellectual property protection
• Possible future products

Market

• Industry – Growth – Size - Segments - Entry barriers
• Target Markets – Growth – Size - Customers
• Buying power - Buying preferences Present and future
• Competitor Matrix - Strengths and weaknesses
• Competitive advantage - Substitutes

Company

• Vision, mission, & values
• The management team Advisors and board members
• History / stage

Marketing and Sales Plan

• Marketing strategy Sales plan - Goals  - Bottom up sales projection
• Promotion
• Pricing
• Distribution Channels

Organization Plan (Implementation)

• Legal structure Organization structure Management needs
• Experience
• References
• Staff needs Motivation / Compensation
• Other HR

Operations Plan (Implementation)

• Technology status
• Regulatory and legal
• Manufacturing requirements - Facilities -Equipment
• Supply chain issues

Growth Plan

• Growth strategies Product Development
• R & D Plan Spin Offs Benchmarks or milestones
• Staffing Resources needed
• Difficulties and risks
• Other internal strategies
• External Development - Franchising - Acquisitions

Contingency Plan / Critical Risks

• Environment Markets - Price cutting
• Products - IP persistence
• Competitive threats
• Operations - Limited experience- Cost overruns
• Organization / Management - Dependence on key people - Limited experience

Financial Plan

• Pro forma statements (2-3-yr; complete cash flow)
• Burn Rate / Breakeven Point

Investment proposal

• Investment needed Sources and uses of funds
• Investors return

Judging Criteria

Judges prefer business plans that are clear, concise, and complete. Contestants must convince the judges of the high "expected value" of their company that could include expected financial returns attractive to investors and/or social value. "Expected value" is a combination of "potential valuation" and the likelihood that the team can achieve that value.

FINAL ROUND

See timeline for announcement of the finalists. Finalists will have the opportunity to work with mentors to prepare for the final oral presentations before judges at the finals event noted on the timeline.

Finalists will make 8-10 minute oral presentations before an audience and a team of judges from the venture community including investors, legal professionals in the venture space and experienced entrepreneurs and social entrepreneurs. These criteria are used to determine the attractiveness of the plan and to determine the winners:

• Strength of the value proposition
• Clear competitive differentiation, preferably through unique, protected technology
• Target markets receptive to new entrants
• Market size providing opportunity for high growth
• High potential for sustainable, scaling revenues and earnings
• Committed Team with appropriate skill sets
• Time to market and pay-off opportunities for investors
• Ability to locate substantial operations in Maryland

For plans in the social responsibility space judges will factor in the following criteria:

1. Social impact
2. Strength of the team
3. Uniqueness of plan
4. Sustainability (financial and operational)