The Muskingum County Business Incubator (MCBI) is proud to announce its third 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 Carol Humphreys, Muskingum County Business Incubator at 56 North Fifth St, Zanesville, OH 43701.
Competition Timeline:
· June 2, 2009 The MCBI and Small Business Development Center will host a free How to Write a Business Plan Workshop from 2 - 4pm at the MCBI Office, 56 N
Fifth St., Zanesville, OH.
· July 14, 2009 Information and training meeting at the MCBI Office from 5:30-6:30pm. You will be presented with information about the judging process and
what are the expectations of a winning presentation.
· July 21, 2009 Training assistance for presenters from 5:30-7:30pm. We will discuss the components of a winning presentation and practice basic principles.
· August 10, 2009 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.
· August 21, 2009 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.
2009 Requirements:
1. Only startups (not yet operational) and emerging businesses (less than two years old) may apply.
2. Businesses entering the competition must be located in Muskingum, Belmont, Guernsey, Noble, Morgan, Harrison, Jefferson, Monroe, or Coshocton Counties.
3. Your business idea must be original work that you'll be able to fully disclose.
of example technology businesses on F.A.Q. page.)
Plan Overview
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.
1. Concept Summary
2. Description of the overall product or service being offered and the need those address
3. A short statement about the competitive advantages of the new business or venture.
4. An analysis of the overall market or industry
5. The specific market segment addressed by the product/service and approximate size.
6. Critical factors that have an impact on the industry, e.g., government regulations, approvals, or licensing requirements.
7. A description of the specific product or service
8. Revenue/Business Model: How will the business generate revenue?
9. Describe the target market
10. Give a brief description of the competition
11. Management Team including a brief description of relevant experience
12. Financials including an outline of invested capital needs and sources (how much money are you looking for?)
13. Revenue projections estimated operating costs and anticipated profitability over first 3 to 5 years.
14. Expected level of profitability How profitable do you think you will be? How much will your income exceed your expenses?
15. Include how you will use the award money to grow your business.
Format Requirements
1. In addition to the three page overview you may use your own cover page with company logo, tag line, etc.
2. Please be sure to include an entry form with your plan overview.
3. Font size between 10 and 12 point.
4. You may use any font you like, however we recommend Times New Roman, Ariel, Helvetica, or Garamond.
5. The margins should be no less than .75 inches, not including header and footer.
6. Please number all the pages including the first page.
7. Include your business concept name as a header of footer on all the pages.
8. 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.
What is the Muskingum County Business Incubator Business Plan Competition?
What is the Entrepreneurial Signature Program?
Who is eligible to participate in the MCBI Business Plan Competition?
How does it work?
What if I dont know how to write a business plan?
Will there be any additional help or information?
Are there any restrictions on the type of business or service I propose?
Are there other restrictions?
What can my business proposal win?
Who will be the judges?
What are the criteria the judges will use to evaluate these business plans?
Can I get a copy of the business plans?
Will there be a confidentiality agreement?
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.
What is the Entrepreneurial Signature Program?
The ESP is a program of the Tech Growth Fund at the Voinovich School of Leadership and Public Affairs. The Tech Growth Fund supports entrepreneurs with technology-based businesses by offering operational assistance and access to early-stage capital. The program aims to strengthen and grow technology-based businesses in 19 counties of southeast Ohio.
Who is eligible to participate in the Muskingum County Business Incubator Business Plan Competition?
1. Only startups (not yet operational) and emerging businesses (less than two years old) may apply.
2. Businesses entering the competition must be located in Muskingum, Belmont, Guernsey, Noble, Morgan, Harrison, Jefferson, Monroe or Coshocton Counties.
3. Your business idea must be original work that youll be able to fully disclose.
The Muskingum County Business Incubator along with the Small Business Development Center will present a How to Write a Business Plan workshop from 2-4pm on June 2, 2009 at the MCBI Office, 56 N. Fifth St, Zanesville, OH 43701. For additional assistance contact Carol Humphreys at 740-453-3649 or email Carol at chumphreysatmcbi@yahoo.com .
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 July 14th and two training sessions for Giving a Winning Presentation on July 21st and August 10, 2009 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.
Who will be the judges?
The judges will be business owners, business professionals, a representative from the Entrepreneurial Signature Program and the East Central Ohio Tech Angel Fund.
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.
What must I submit?
Applicants must submit a completed entry form and a 3 page executive summary of their business concept no later than 5pm on July 10, 2009.
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 10, 2009. Selected finalists will present their business concept to a panel of judges on August 21, 2009 and the winners will be presented their awards on September 8, 2009. More details to follow.
Cash and Prizes To Be Announced!