2020 Skandalaris Business Plan Competition
Submission Deadline02/21/2020
Description

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. For each category, first place 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 Entrepreneurship Faculty.

The competition was re-named in 2010 to honor EMU alumnus Robert Skandalaris; author, entrepreneur, and philanthropist.

Rules

The business plan is due by February 18, 2020

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 March 13, 2020, 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 Midwest Entrepreneurship 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 plans. 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 1 to 2 double spaced pages (8.5"x11"). Recommended Font size: 12pt. Margins: 1 inch on all sides.
  • Business Plan: Approximately 10 to 20 double, or 5 to 10 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.
  • Plans will be judged based on following criteria: 

    1. Company addresses an important problem or opportunity.

    2. Business concept and revenue model/social value model are clearly articulated and meet customers' needs.

    3. Company solution is better than anything offered by competitors and is defensible.

    4. Existing and planned team can credibly implement the business plan.

    5. Marketing and sales approaches are appropriate for acquiring customers.

    6. Company has a reasonable financial plan.

Contact Information

Center for Entrepreneurship
401 Owen Building, 300 W. Michigan Avenue
College of Business
Eastern Michigan University
Ypsilanti, MI 48197
Phone: (734) 487-9263
FAX: (734) 481-3354

Email: Entrepreneurship_Center@emich.edu

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