2017 SKANDALARIS BUSINESS PLAN COMPETITION
Submission Deadline01/08/2017
Description

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.

Judging Criteria

_____  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)

Rules

The business plan is due by January 08, 2018.

Each finalist will be notified in advance and is required to present at the award ceremony at the Sesi Midwest Entrepreneurship Conference that will be held at Eastern Michigan University on February 10, 2017, at the EMU Student Center. Only finalists will be notified.

To participate in the competition, one must meet the following requirements:

  • Individual participants or the teams must consist entirely of current students in the Midwest region.
  • Each entry must use a non-student advisor and/or mentor (faculty or professional).
  • Business Plans can be for a for-profit or non-profit business
  • Business Plans can be for a start-up business or for an expansion of an existing small business (with less than 500 employees).

All deadlines must be met to be eligible.

Each finalist team/individual participant must attend the award ceremony (Sesi Conference) and provide a short power point presentation of the plan.

Waivers and Releases

Protection of highly confidential information is the responsibility of each participant. All Business Plan proposals will be handled confidentially. Only the organizers and the judges will have the access to the complete business plan. However, judges and organizers will not be required to sign nondisclosure documents. In case of a conflict of interest, the particular business plan will be assigned to a different judge.

Each team must complete application and submit the plan in PDF format.

BUSINESS PLAN ENTRY SPECIFICATION

The following guidelines must be followed for each business plan entry.

Each uploaded business plan must include:

  • Executive Summary: Approximately 3 double spaced or 1. 5 single spaced pages (8.5"x11"). Recommended Font size: 12pt. Margins: 1 inch on all sides.
  • Business Plan: Approximately 15 double, or 8 single, spaced pages (8.5"x11"), excluding appendices. Recommended Font size: 12pt. Margins: 1 inch on all sides. Appendices: Each entry may include a maximum of 10 pages of appendices, including the financial tables. Appendices must be clearly titled.

Contact Information

Center for Entrepreneurship
Email: Entrepreneurship_Center@emich.edu

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