MCBI has announced its fourth annual Business Plan Competition.  All pertinent dates and requirements are listed below.

How to Enter

All entries for the MCBI Business Plan Competition should be delivered to MCBI at 56 North Fifth St, Zanesville, OH 43701.

Competition Timeline

• October 4, 2010– deadline for submitting entry form and a 3 page overview of your plan.  All entry requirements must be received by 5pm at the MCBI Office.
• October 6, 2010 – Information and training meeting at the MCBI Office from 5:30 – 8:00pm.  You will be presented with information about the judging process and what are the expectations of a winning presentation.
• October 13, 2010 – Training assistance for presenters from 5:30 – 7:30pm.  We will discuss the components of a winning presentation and practice basic principles.
• October 21, 2010 – deadline for submitting the finished business plan.  All entries must be received by 5pm at the MCBI Office.  A practice session will be held from 5:30 – 7:30pm with a panel of professionals who will work with applicants to improve their presentation for judging.
• October 29, 2010– Formal Judging will be conducted with 10 minute presentation and 10 minutes for questions and answers.  Appointments will be made in 30 minute intervals and will be scheduled in advance.
• November 5, 2010 Announcement of Winner and Celebration Event- Details TBA

2010 Requirements

• Only startups (not yet operational) and emerging businesses (less than two years old) may apply.
• Businesses entering the competition must be located in Muskingum, Belmont, Guernsey, Noble, Morgan, Harrison, Jefferson, Monroe or Coshocton Counties.
• Your business idea must be original work that you’ll be able to fully disclose.
• As the winner of the $10,000 award the company will become a client of MCBI and receive operational assistance.   A $5,000 cash award and over $5,000 in services will be a valuable help in starting a new venture in entrepreneurship.  All sponsors and awards will be listed on the website by August 10th.  Check back for further information.

Plan Overview

The plan overview should include the following elements
Introduce the business concept in an organized and concise manner.  The plan overview should be designed to pique the reader’s interest and encourage him or her to review the business plan.  The overview should not be longer than three (3) pages and include the following elements.

• Concept Summary
• Description of the overall product or service being offered and the need those address
• A short statement about the competitive advantages of the new business or venture.
• An analysis of the overall market or industry
• The specific market segment addressed by the product/service and approximate size.
• Critical factors that have an impact on the industry, e.g., government regulations, approvals, or licensing requirements.
• A description of the specific product or service
• Revenue/Business Model: How will the business generate revenue?
• Describe the target market
• Give a brief description of the competition
• Management Team including a brief description of relevant experience
• Financials including an outline of invested capital needs and sources (how much money are you looking for?)
• Revenue projections estimated operating costs and anticipated profitability over first 3 to 5 years.
• Expected level of profitability – How profitable do you think you will be?  How much will your income exceed your expenses?
• Include how you will use the award money to grow your business.

Format Requirements

• In addition to the three page overview you may use your own cover page with company logo, tag line, etc.
• Please be sure to include an entry form with your plan overview.
• Font size between 10 and 12 point.
• You may use any font you like, however we recommend Times New Roman, Ariel, Helvetica, or Garamond.
• The margins should be no less than .75 inches, not including header and footer.
• Please number all the pages including the first page.
• Include your business concept name as a header of footer on all the pages.
• You can submit your entry as a PDF or in Microsoft Word (Office 97 or later).  If you choose to use other software for diagrams, tables, spreadsheets, etc., they must be integrated within the Word document.

How it Works

Frequently Asked Questions

What is the Muskingum County Business Incubator Business Plan Competition?
Our Business Plan Competition is a way to draw attention to startup and emerging businesses, give them an opportunity to win cash awards, and to enter the MCBI with its programs for six months free of charge.

Who is eligible to participate in the Muskingum County Business Incubator Business Plan Competition?

• Only startups (not yet operational) and emerging businesses (less than two years old) may apply.
• Businesses entering the competition must be located in Muskingum, Belmont, Guernsey, Noble, Morgan, Harrison, Jefferson, Monroe or Coshocton Counties.
• Your business idea must be original work that you’ll be able to fully disclose.

How does it work?
Applicants must submit a completed entry form and a 3 page executive summary of their business concept no later than 5pm on August 17, 2010.

The completed business plan must be submitted to Carol Humphreys at the Muskingum County Business Incubator at 56 N. Fifth St, Zanesville, OH 43701 no later than 5:00pm on August 17, 2010.  Selected finalists will present their business concept to a panel of judges on September 18, 2010.  The date for the award ceremony will be announced at a later date.

What if I don’t know how to write a business plan?
The Muskingum County Business Incubator along with the Small Business Development Center will present a ”Information and Training Meeting ” workshop from 5:30 to 8 pm on October 6th, 2010 at the MCBI Office, 56 N. Fifth St, Zanesville, OH 43701.  For additional assistance please contact MCBI at 740-453-3649

Will there be any additional help or information?
The Muskingum County Business Incubator and the Small Business Development Center will hold an informational meeting on  October 6th and two training sessions for “Giving a Winning Presentation” on October 13th and October 21st at the MCBI Office.

Are there any restrictions on the type of business or service I propose?
No.  We’ll accept business plans in any category.
We do reserve the right to place the entry in the proper category according to the information that is submitted in the business plan.

Are there other restrictions?
Each business idea must be an original work of each entrant.  Each group who enters must be able to fully disclose their ideas.  We require this to prevent any team from being under an agreement that would restrict its ability to fully state its plan.

What can my business proposal win?
The winning plan will win over $10,000 in cash and prizes.  All prizes will be listed on this website by October 4th 2010.

Who will be the judges?
The judges will be business owners, business professionals, and representatives from the  sponsors of this program

What are the criteria the Judges will use to evaluate these business plans?
Judging is based on the cumulative total of the following 8 criteria. 
DESCRIPTION OF THE PROBLEM                             
DESCRIPTION OF THE SOLUTION                             
DESCRIPTION OF THE MARKET                                
DESCRIPTION OF THE VALUE PROPOSITION                      
DESCRIPTION OF THE BUSINESS MODEL                
DESCRIPTION OF THE COMPETITION           & RISKS         
DESCRIPTION OF THE INVESTMENT & RETURN     
STRENGTH OF MANAGEMENT TEAM                 

Will there be a confidentiality agreement?
No.  Due to the nature of the competition, we are not able to ask judges, reviewers, staff, or other participants to agree to sign non-disclosure statements.  We will, however, make every effort to limit distribution of business plans only to judges of the competition.  The Muskingum County Business Incubator cannot guarantee that other individuals will not obtain access to electronic or hard copies of the business plan.