2017 Student Business Plan Competition

2017 STUDENT BUSINESS PLAN COMPETITION

Business Plan Judging Criteria

The judging criteria will be a 1-5 point scale in the areas of: innovation, value creation, feasibility, value capture, and written composition (25 points maximum). A definition of each of these terms is provided in the written business plan judging criteria.

Provided below is:

·  Full Written Business Plan Content Outline, Page Limits and Formatting Criteria

·  Written Business Plan Judging Criteria & Scoring Guidelines

·  Written Business Plan Judging Form

Full Written Business Plan Content Outline, Page Limits and Formatting Criteria

A comprehensive written business plan must have a cover page that includes the name, CWU e-mail address, and phone number of the student who originally submitted the abstract. This student will receive notification of judging results. The cover page must also include the title of the plan and use of an upper-left running header on all subsequent pages, with page numbering to be in the upper right.

All business plans should be single-spaced (1.0), use 12-point font and use of 1-inch margins on all sides, and include centered section headings listed below. (Note: word count is roughly 500 words per page.) Business plans should not exceed 16 pages in length, including cover page, and table of contents (16 page limit does not include the appendix, which should not exceed 4 pages).

Required Content Areas and Order

1.  Cover Page

2.  Table of Contents

3.  Executive Summary, including principal(s), business mission, type of incorporation/ownership (may re-use abstract)

4.  Product or service description (including current status of development)

5.  Customer Market Analysis (demographics, catchment area, market size, potential market share, etc.)

6.  Sales and Marketing Plan (include how you will go to market)

7.  Intellectual Property, if any (patents, licenses)

8.  Competitor Analysis (competitors, their status, and competitive differentiation)

9.  Management Team and/or advisors, including relevant experience (consider resume inclusion in appendix)

10. SWOT analysis (Strengths, Weaknesses, Opportunities, Threats)

11. Financial Highlights of start-up through first full year (12 months), including expenses of salaries, benefits, goods and services, etc.; and revenue (include a projected cash flow, projected income statement, and balance sheet- may show deficit without funding)

12. Offering of the Company (how much funding investment you are seeking, including award money, other funding sources, and any relevant failure exits based on non-funding, etc.).

13. Appendix (resumes, copies of web-page, pictures of product, etc.)

Written Business Plan Judging Criteria & Scoring Guidelines

Five criteria are used for judging business plans. They are: Innovation, Value Creation, Feasibility, Value Capture, and Written Composition. For each area, a scoring criterion of 0, 1-2, 3-4, or 5, will be used. A maximum of 25 points will be awarded to the written plan. Descriptions for each criterion can be found below.

Criteria 1: Innovation

Innovation describes the originality or uniqueness of a business idea. Innovation exists along two dimensions: new products/services or processes to existing markets, and existing products/services or processes to new markets. There may be combinations of both. The magnitude of innovation also exists in relation to the relevance of the idea in relation to the process/product or service it is part of. It may be a certain component, a core component, or the innovation may be a whole system.

Criteria 1 Scoring:

0: No innovation exists. The idea lacks newness to the world, industry, region or local area.

1-2 Minor innovation: The idea offers new components, but isn’t an original or unique idea.

3-4 Mid-level innovation: The idea is new to a firm in the industry or region. The innovation doesn’t significantly change the processes, service or product offerings compared to existing businesses in the industry.

5 The idea is highly innovative and original. Idea is unlike anything currently existing in the industry, at regional to worldwide level.

Criteria 2: Value Creation

Value creation refers to the net impact the idea makes on society. Value creation will be judged at the level of impact that the idea makes: context specific, local, regional industry and universal. Value creation can be found in how well it resolves a problem and the magnitude of importance of the problem or problems that it resolves and how much benefit it leaves for customers, suppliers, community members and anyone else impacted by the activities of the business idea.

Criteria 2 Scoring:

0: No value creation exists: Idea does not create net value. Idea relies on lack of information or bargaining power of one group of stakeholders to create value for others.

1-2 Minor value creation exists: The idea solves problems with modest success, or is significantly successful at resolve problem of modest importance. Problems that are resolved by idea aren’t prevalent; offering won’t have a wide or enduring market, so that potential for creating value is limited.

3-4 Mid-level value creation: The idea has significant potential for creating value. Idea resolves significant problems that are widely shared with significant success.

5 High Value Creation: The idea resolves important problems with a successful solution. The problems are shared at a universal level.

Criteria 3: Feasibility

Feasibility criterion checks the possibility of an idea being done, affected, or accomplished. Feasibility will be judged at both the feasible degrees–easy, moderate, and hard, and feasible areas: technical, economic, and social domain. The clearness of the idea is an important aspect to consider. The articulation of the idea should be clear, and the tasks for implementing the idea must be clear and specified.

Criteria 3 scoring:

0: Unfeasible: The idea is unclear and cannot be carried out.

1-2: Hard: The idea is too difficult to be successfully carried out and the tasks are not defined.

3-4: Moderately feasible: the idea is moderately difficult to be successfully carried out, but the tasks for carrying out the idea have been identified.

5: Easily feasible: The idea can easily be carried out and the tasks have been specified with some clarity.

Criteria 4: Value Capture

Value capture checks the return of investment from the implementation of the idea. Value capture is judged by the idea’s total costs, it profitability, the magnitude of assets involved and the lifespan of the idea. When considering the time span of an idea, consider whether the idea is a one-time opportunistic venture, a short time venture (1-2 years), or whether value will be captured over a long time horizon (3-5 years).

Criteria 4 scoring:

0: No value capture: assets involved in venture will not grow.

1-2 Minimal value capture: Proposal low likelihood of being able to capture value to sustain assets. If successful, growth would be unlikely, or time horizon would be limited.

3-4 Moderate value capture: Idea has reasonable likelihood of increasing value of assets and sustaining growth for long period of time. Costs are low compared to revenues and assets used.

5 High value capture: Idea is able to maintain a high return on assets for a long period of time.

Criteria 5: Written Composition

Written composition checks how well written the business plan is, and the level of competency/compliance, which the authors follow, with submission guidelines.

Criteria 5 Scoring:

0: A plan so poorly written as to not meet and minimum standards of grammar, spelling, and guideline requirements.

1-2: A plan that is sub-par in standards of grammar and spelling, but meets the guideline requirements; or meets minimum standards of grammar and spelling, but fails to closely follow the guideline requirements.

3-4: A plan that meets the expected basic compositional requirements of a professional business plan, and closely follows all the required guidelines. No more than one small typo, or formatting issue, per page is evident.

5: A plan that is exemplary in all areas, shows no observable deficits in grammar or spelling, and follows all submission requirements.

CWU STUDENT BPC -SOURCE 2017 Judging Form:

Written Business Plan

Judge's Name ______

Student/Author Name(s)______

Mentor’s Name ______

Name of Business______

Please score the criteria on the following scale:

(lowest) 1 2 3 4 5 (highest)

Criteria: As defined in the “Written Business Plan Judging & Scoring Guidelines” / Score:
1. INNOVATION: refers to the originality and uniqueness of the business idea.
2. VALUE CREATION: refers to the net impact the idea makes on society.
3. FEASIBILITY: refers to the possibility of an idea being done, affected or accomplished.
4. VALUE CAPTURE: refers to the return of investment from the implementation of the idea.
5. WRITTEN COMPOSITION: refers to how well written the business plan is and the level of competency/compliance with submission guidelines.
Please enter total:

Feedback:

Please comment on at least two things the student did well.

Please comment on at least two things that could be improved.