|
All full-time and part-time undergraduate and graduate students registered for the current semester are eligible to enter the Competition, as are full-time faculty and regular part-time adjunct faculty with an ongoing role with the university. Alumni who graduated between May 2001 and December 2007 are also eligible to compete.
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 meaningful ownership and participation. There are no minimum or maximum team sizes, and the number of submissions per team or per individual is not limited.
Cash prizes will be awarded in each division 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. There will be a Grand Prize awarded to the “Best in Competition” among the first place winners of the three divisions.
Entrants will compete in one of three divisions and will be judged solely against competitors within their division with exception of the grand prize that is a competition between the divisions for the best in competition.
-
Undergraduate Student Division - All undergraduate students registered for the Spring 2008 semester are eligible to enter the Competition. All members of the team must be undergraduates to qualify for the Undergraduate Student Division.
-
Faculty and Graduate Student Division - All full-time and part-time graduate students registered for the Spring 2008 semester are eligible to enter the Competition. All full-time faculty and regular part-time adjunct faculty with an ongoing role with the university are eligible to compete and faculty and graduate students will compete together in this division. The team may include undergraduates. Provided that at least one team member is a faculty member or graduate student, the team will compete in the Faculty and Graduate Student Division.
- Young Alumni Division - Alumni of the University of Maryland, College Park graduating with an undergraduate or graduate degree between May 2001 and December 2007 are eligible for the Competition.
Criteria for eligibility extend to 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 annual revenues do not exceed $1 million.
The Competition seeks submissions from entrants with 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. The judges will use a variety of criteria to evaluate the entries to include:
-
Is the value proposition realistic?
-
Are the competitive advantages believable?
-
Is the target market prediction sensible?
-
Considering the value proposition, competitive advantage and target market prediction, does the revenue and profit model make sense?
-
Who are the first customers and how important is the venture to these customers? Is it expensive for these customers to switch?
-
Does it appear that the team is well constituted? If not, how difficult will it be to hire people with the necessary competencies?
-
If intellectual property is important, can it be protected?
-
Are there any prior obligations that present problems for new investors?
-
What is the expected timeframe and pay-off for new investors?
-
Will the business be viable in five years?
-
Is the executive summary clear and well-written?
Prepare an executive summary of the business plan
Executive summaries are required to enter. Visit the How to write your Executive Summary page to learn what judges and VCs look for in a summary.
Format
The executive summary for this competition 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. Plans 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 include the business or company name/title in the right corner and the footer should state: "University of Maryland Business Plan Competition 2008."
Prepare a contact sheet
A contact information sheet must precede the executive summary. 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
Mailing address:
Primary contact phone number:
Primary contact E-mail address:
Secondary contact name:
Secondary contact phone number:
Secondary contact E-mail address:
State degree pursued and expected graduation for all student team members
Work contact information for any external/non-student team members
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.
Provide a brief abstract of your business idea that will be used to describe your company or idea in press releases and other documents.
Submit the entry
Entries are due by 10 PM on February 23, 2008. Entries received after this time will not be considered. Email the completed entry to Karen Thornton. The subject line of the message should be written as follows: BPC 2008 - division - company name. Upon receipt of your E-mail message, you will receive a confirmation E-mail. If you do not receive a confirmation E-mail within one day of your submission please contact Karen Thornton at (301) 405-3677, or at karent@umd.edu.
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.
Format-please use recommended format
-
Up to ten pages of text plus up to 5 additional pages of tables, exhibits, figures and appendices. Nothing beyond these page limitations are allowed. The contact sheet is required and is NOT counted in the ten-page limitation.
-
Plans 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. Font should be either Times New Roman or Arial.
-
The header should include the business or company name/title in the right corner and the footer should state: "University of Maryland Business Plan Competition - Spring 2x008"
-
Entries must be submitted ELECTRONICALLY no later than 10 PM on March 18, 2008.
Electronic copies of the full business plan should be sent in either MS Word or pdf format to Karen Thornton. The subject line of the email message should be written as follows: BPC 2008 - division company name. Upon receipt of your e-mail, you will receive a confirmation e-mail. If you do not receive a confirmation e-mail within one day of your submission please contact Karen Thornton via e-mail, or at (301) 405-3677 .
Business plans that do not conform to these rules will be disqualified.
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. "Expected value" is a combination of "potential valuation" and the likelihood that the team can achieve that value. The finalists will be selected and announced by March 25. Announcement of finalists will be on the web.
Announcement of the finalists will be on March 25 and finalists will have the opportunity to work with mentors to prepare for the final oral presentations before judges on May 9.
Finalists will make 8-10 minute presentations (PowerPoint) followed by Q & A from the judges. The length of presentations will depend on the total number of finalists chosen.
Confidentiality
The University of Maryland organizers of the competition are committed to maintaining confidentiality. The judges for the competition may come from the VC community, and the standard practice in the VC community is not to sign a confidentiality agreement when reading executive summaries or preliminary business plans. Their practice is to maintain high ethical standards when reviewing plans. In keeping with standard practice, the judges will not sign any non disclosure agreement or otherwise make any confidentiality commitments for this competition.
|
