In its tenth year, the Skandalaris Business Plan Competition is presented by the EMU Center For Entrepreneurship.
The competition has university/community college and high school categories, as students compete separately for prize money. First place (for each category) is $1000, second place is $750 and third place is $500. There is also a $200 prize for “best presentation.”
Plans are judged by professional business counselors from the Michigan Small Business Development Center (MI-SBDC) and EMU Management Faculty.
_____ Overall Appeal of the Plan (total 15 points)
Clarity, completeness, and persuasiveness of the written business plan.
Does the team express a compelling "vision" for the new venture?
Does the team show enthusiasm and commitment for the new venture?
_____ The feasibility and quality of the business plan concept (e.g., product, technology, service) (total 30 points)
Unique value of the proposed product/service/technology.
Clear customer needs being satisfied.
Importance of product/service/technology to the customer.
The plan has developed a prototype or working description of the product/service/technology.
_____ Attractiveness of the Market Opportunity (total 20 points)
Market potential (Size and growth)
Potential market profitability
Does the team have a plan to go to the market to test receptiveness of potential customers?
_____ The feasibility and quality of the business model (total 20 points)
How will the proposed venture produce and distribute the product/service?
Will the proposed venture be favorably positioned in the distribution channel?
How will operational obstacles (if any) be overcome?
_____ Capability of the Management Team (total 5 points)
The quality of team members’ relevant skills and the quality of their past leadership and other initiatives.
Quality of team members’ relevant skills
The roles the current team members will play
Team’s plan to fill any gaps in the management
_____ Capital Requirements and Financial Forecast (total 10 points)
Type and amount of capital required
Cash flow and other financial projections showing how long it will take the venture to be financially self-supporting and how will the venture be financed until then?
The financial and/or social return of the proposed venture
______ TOTAL SCORE (total 100 points)