Embed Size (px)
Citation preview
Competitionoverview
Business PlanCompetition 2012
The 2012 judging panel will be chaired by:
William S. McKiernan, founder of CyberSource Corporation.He is an online commerce pioneer who propelledCyberSource to a leading world company, processing over$100 billion each year for 300,000 customers. In 2010,CyberSource was acquired by Visa, Inc. for $2 billion.
The Chair of the Irish panel will be Denis O’Brien,Communicorp Group Ltd.
A full list of judges is available on the web sitewww.irlfunds.org/bpc.
Timeline—————————————————————————————————————————————————————————————
October – January > Promotion of competition in participating universities.> Confirm internal deadlines with participating universities.
—————————————————————————————————————————————————————————————
February – April > Participating universities hold internal competition (dates provided on web site).—————————————————————————————————————————————————————————————
May > Participating universities select up to 2 winners whose business plans will be submitted to The Ireland Funds Business Plan Competition.
—————————————————————————————————————————————————————————————
June > The Ireland Funds Business Plan Competition awards event.—————————————————————————————————————————————————————————————
ContactFor more information on the competition onThe Ireland Funds Business Plan Competition, please visit www.irlfunds.org/bpc or contact:
Jordan CampbellProgrammes ManagerThe Ireland [email protected]+353 1 662 7878
For more information, visitwww.irlfunds.org/bpc
Business Plan Competition Brochure 21/11/2011 15:38 Page 1
The Ireland Funds have a long tradition of supportingexcellence and addressing need throughout the island ofIreland. As we set off on the path toward economic recovery,The Ireland Funds is launching a Business Plan Competitionthat will nurture creativity and hone entrepreneurial skillsamongst early stage entrepreneurs, the people who willplay a crucial role in getting us back on our feet.Participants will develop their entrepreneurial skills bypresenting plans for a business venture that they havedeveloped independently or as part of a team.
The Ireland Funds Business Plan Competition will berun in partnership with universities throughout Ireland.Through business schools or other centres, The IrelandFunds will invite students from the following universities toparticipate in the competition: Dublin City University,National University of Ireland Galway, National University ofIreland Maynooth, Queen’s University Belfast, TrinityCollege Dublin, University College Cork, University CollegeDublin, University of Limerick, and University of Ulster.
Participating universities will hold internal competitionsfor their students, selecting up to 2 business plans to putforward for The Ireland Funds Business Plan Competition.Those whose business plans are put forward by theiruniversities will have an opportunity to present to a judgingpanel of leading entrepreneurs, venture capitalists andexecutives for a chance to win
First prize——————————————————————————————The Ireland Funds Business Plan Competition Award€10,000Plus in-kind services as available and access to advice andsupport from the judging panel and The Ireland Funds.
Runner-up prize——————————————————————————————€5,000Plus in-kind services as available and access to advice andsupport from the judging panel and The Ireland Funds.
Who is eligible?The competition is primarily for post-graduate students inuniversities across the island of Ireland. Please note thatsome universities will allow submissions from under-graduate students or recent alumni, so contact youruniversity co-ordinator for details.
General guidelines1 Applicants must apply to the competition through aparticipating university. Contact details for universityco-ordinators and deadlines for submission will beavailable at www.irlfunds.org/bpc.
2 Applicants may be individuals or teams (please note thatshortlisted teams may invite up to 4 team members toparticipate in the ‘pitch’).
3 Applicants must meet the participating university’seligibility criteria, which may vary. Please note that businessplans should be of sufficient quality to compete with thestandard produced by post-graduate business students.
4 Business plans will be a maximum of 30 pagesincluding cover sheet, body, financial statements,appendices and consent form by the deadline set byparticipating universities.
5 Participating universities will then nominate 2 businessplans to submit to The Ireland Funds Business PlanCompetition. These plans will be submitted to The Ireland Funds by 4 May 2012.
The assessmentFollowing the internal assessments that will take place inparticipating universities, The Ireland Funds will inviteshortlisted candidates to an awards event at our AnnualWorldwide Conference. The awards event will take placeon Tuesday, 19 June 2012 and will include an exhibitionof shortlisted business plan for judges and audiencemembers to view.
The Ireland Funds will assemble a panel of judgesfrom the US and from Ireland. Judges will be leadingentrepreneurs, executives or venture capitalists who willreview the finalists’ business plans and to select a winnerof the 2012 competition.
Each individual or team will present a ‘pitch’ to theirassigned judging group. The judging groups will scorecandidates based upon the pitch and on the writtenbusiness plans. Each judging group will be asked to selectcandidates to progress to the final round.
The selected finalists will then have the opportunity tomake one final pitch to the full panel of judges, who will thenannounce the winner and runner-up on the evening. Therewill be a cash prize and, in addition, winners will be given theopportunity to network with business leaders. We will alsoseek to secure donations of services and mentoring forwinners to help them implement their business plans.
See facing page for criteria against which businessplans will be evaluated.
Overview of the competitionScoring Low score High score
Opportunity
People
Route to market
Financial planning
PEST analysis
Summary
1> The business plandescribes theproduct or servicethat will be offered.
1> The business plandescribes the skills,experience andcontacts requiredto realise thebusiness plan.
1> The plan only partiallyidentifies thecustomer: who theyare, where they are,how much they willbuy and where andhow they will purchase.
1> A low scoringbusiness plan mayinclude a figure forthe amount of moneyexpected from salesbut assumptions willnot be explicit.
1> The plan does not take intoconsideration anypotential impacts of political,economic, social ortechnological issues.
1> The judges do notbelieve that the planpresents a marketopportunity.
> The judges feel thatthe plan has either notbeen well-researched,or that it has not beenclearly presented.
2> The business plan describesthe product or service thatwill be offered and itscompetitive advantage.
> The business plan indicatesthe volume and value ofmarket potential.
> The business plan lists the maincompetitors in Ireland andinternationally.
2> The business plan and oralpresentation describe the skills,experience and contacts neededto realise the plan, noting what isavailable within the team andwhat will need to be obtained.
2> The plan identifies thecustomer: who they are, wherethey are, how much they willbuy and where and how theywill purchase.
> The business plan includes somedetail on pricing, and distribution.
2> The plan describes the amountof money you expect togenerate from sales.
> Assumptions are explicit andthere is a profit and lossforecast 1–2 years.
2> The business plan includes someanalysis of how political,economic, social or technologicalissues may impact on thebusiness. These may includeenvironmental regulation,projections on job creation in thecommunity, government supportfor the industry or technologicaldevelopments that can help orhinder the business.
2> The judges believe that the planpresents a market opportunity.
> Judges do not necessarily feelthat the business has a legitimatechance of being successful butare convinced that the plan iswell-researched and clearlypresented.
3> The business plan describes the product or servicethat will be offered and its competitive advantage.
> The business plan indicates the volume and valueof market potential.
> The business plan lists the main competitors inIreland and internationally.
> There is evidence of the innovativeness of businessconcept market gap met and its unique valueproposition. There is evidence that the businessmodel is attractive in terms of potential margins,cash flow and value creation. Technology, ifapplicable, is viable and protectable.
3> The business plan and oral presentation describethe skills, experience and contacts needed torealise the plan, noting what is available within theteam and what will need to be obtained. It isevident that the team has given some thought as towhom they would approach for support.
3> The plan identifies the customer: who they are,where they are, how much they will buy andwhere and how they will purchase.
> Business plan and oral presentation give a clearpicture of the milestones and tasks required todevelop, cost, make and distribute theproduct/service.
3> The plan describes the amount of money youexpect to generate from sales.
> Assumptions are explicit and there are profit andloss and cash flow forecasts for 2–3 years.
> Top scoring plans will also cover a range ofscenarios.
3> The business plan includes some analysis of howpolitical, economic, social or technological issuesmay impact on the business. These may includeenvironmental regulation, projections on jobcreation in the community, government supportfor the industry or technological developmentsthat can help or hinder the business.
> The business plan considers the impacts of thebusiness and how these impacts will beenhanced or regulated to serve the interests ofthe wider community.
3> The judges believe that the plan presents amarket opportunity.
> Judges feel that the business has a legitimatechance of being successful. They are convincedthat the plan is well-researched and clearlypresented and feel that it is a project for whichrequired capital could be raised.
> Judges believe that the business planrecognises limitations and challenges facingthe firm and provides realistic actions toaccommodate these issues.
Business Plan Competition Brochure 21/11/2011 15:38 Page 3
The Ireland Funds have a long tradition of supportingexcellence and addressing need throughout the island ofIreland. As we set off on the path toward economic recovery,The Ireland Funds is launching a Business Plan Competitionthat will nurture creativity and hone entrepreneurial skillsamongst early stage entrepreneurs, the people who willplay a crucial role in getting us back on our feet.Participants will develop their entrepreneurial skills bypresenting plans for a business venture that they havedeveloped independently or as part of a team.
The Ireland Funds Business Plan Competition will berun in partnership with universities throughout Ireland.Through business schools or other centres, The IrelandFunds will invite students from the following universities toparticipate in the competition: Dublin City University,National University of Ireland Galway, National University ofIreland Maynooth, Queen’s University Belfast, TrinityCollege Dublin, University College Cork, University CollegeDublin, University of Limerick, and University of Ulster.
Participating universities will hold internal competitionsfor their students, selecting up to 2 business plans to putforward for The Ireland Funds Business Plan Competition.Those whose business plans are put forward by theiruniversities will have an opportunity to present to a judgingpanel of leading entrepreneurs, venture capitalists andexecutives for a chance to win
First prize——————————————————————————————The Ireland Funds Business Plan Competition Award€10,000Plus in-kind services as available and access to advice andsupport from the judging panel and The Ireland Funds.
Runner-up prize——————————————————————————————€5,000Plus in-kind services as available and access to advice andsupport from the judging panel and The Ireland Funds.
Who is eligible?The competition is primarily for post-graduate students inuniversities across the island of Ireland. Please note thatsome universities will allow submissions from under-graduate students or recent alumni, so contact youruniversity co-ordinator for details.
General guidelines1 Applicants must apply to the competition through aparticipating university. Contact details for universityco-ordinators and deadlines for submission will beavailable at www.irlfunds.org/bpc.
2 Applicants may be individuals or teams (please note thatshortlisted teams may invite up to 4 team members toparticipate in the ‘pitch’).
3 Applicants must meet the participating university’seligibility criteria, which may vary. Please note that businessplans should be of sufficient quality to compete with thestandard produced by post-graduate business students.
4 Business plans will be a maximum of 30 pagesincluding cover sheet, body, financial statements,appendices and consent form by the deadline set byparticipating universities.
5 Participating universities will then nominate 2 businessplans to submit to The Ireland Funds Business PlanCompetition. These plans will be submitted to The Ireland Funds by 4 May 2012.
The assessmentFollowing the internal assessments that will take place inparticipating universities, The Ireland Funds will inviteshortlisted candidates to an awards event at our AnnualWorldwide Conference. The awards event will take placeon Tuesday, 19 June 2012 and will include an exhibitionof shortlisted business plan for judges and audiencemembers to view.
The Ireland Funds will assemble a panel of judgesfrom the US and from Ireland. Judges will be leadingentrepreneurs, executives or venture capitalists who willreview the finalists’ business plans and to select a winnerof the 2012 competition.
Each individual or team will present a ‘pitch’ to theirassigned judging group. The judging groups will scorecandidates based upon the pitch and on the writtenbusiness plans. Each judging group will be asked to selectcandidates to progress to the final round.
The selected finalists will then have the opportunity tomake one final pitch to the full panel of judges, who will thenannounce the winner and runner-up on the evening. Therewill be a cash prize and, in addition, winners will be given theopportunity to network with business leaders. We will alsoseek to secure donations of services and mentoring forwinners to help them implement their business plans.
See facing page for criteria against which businessplans will be evaluated.
Overview of the competitionScoring Low score High score
Opportunity
People
Route to market
Financial planning
PEST analysis
Summary
1> The business plandescribes theproduct or servicethat will be offered.
1> The business plandescribes the skills,experience andcontacts requiredto realise thebusiness plan.
1> The plan only partiallyidentifies thecustomer: who theyare, where they are,how much they willbuy and where andhow they will purchase.
1> A low scoringbusiness plan mayinclude a figure forthe amount of moneyexpected from salesbut assumptions willnot be explicit.
1> The plan does not take intoconsideration anypotential impacts of political,economic, social ortechnological issues.
1> The judges do notbelieve that the planpresents a marketopportunity.
> The judges feel thatthe plan has either notbeen well-researched,or that it has not beenclearly presented.
2> The business plan describesthe product or service thatwill be offered and itscompetitive advantage.
> The business plan indicatesthe volume and value ofmarket potential.
> The business plan lists the maincompetitors in Ireland andinternationally.
2> The business plan and oralpresentation describe the skills,experience and contacts neededto realise the plan, noting what isavailable within the team andwhat will need to be obtained.
2> The plan identifies thecustomer: who they are, wherethey are, how much they willbuy and where and how theywill purchase.
> The business plan includes somedetail on pricing, and distribution.
2> The plan describes the amountof money you expect togenerate from sales.
> Assumptions are explicit andthere is a profit and lossforecast 1–2 years.
2> The business plan includes someanalysis of how political,economic, social or technologicalissues may impact on thebusiness. These may includeenvironmental regulation,projections on job creation in thecommunity, government supportfor the industry or technologicaldevelopments that can help orhinder the business.
2> The judges believe that the planpresents a market opportunity.
> Judges do not necessarily feelthat the business has a legitimatechance of being successful butare convinced that the plan iswell-researched and clearlypresented.
3> The business plan describes the product or servicethat will be offered and its competitive advantage.
> The business plan indicates the volume and valueof market potential.
> The business plan lists the main competitors inIreland and internationally.
> There is evidence of the innovativeness of businessconcept market gap met and its unique valueproposition. There is evidence that the businessmodel is attractive in terms of potential margins,cash flow and value creation. Technology, ifapplicable, is viable and protectable.
3> The business plan and oral presentation describethe skills, experience and contacts needed torealise the plan, noting what is available within theteam and what will need to be obtained. It isevident that the team has given some thought as towhom they would approach for support.
3> The plan identifies the customer: who they are,where they are, how much they will buy andwhere and how they will purchase.
> Business plan and oral presentation give a clearpicture of the milestones and tasks required todevelop, cost, make and distribute theproduct/service.
3> The plan describes the amount of money youexpect to generate from sales.
> Assumptions are explicit and there are profit andloss and cash flow forecasts for 2–3 years.
> Top scoring plans will also cover a range ofscenarios.
3> The business plan includes some analysis of howpolitical, economic, social or technological issuesmay impact on the business. These may includeenvironmental regulation, projections on jobcreation in the community, government supportfor the industry or technological developmentsthat can help or hinder the business.
> The business plan considers the impacts of thebusiness and how these impacts will beenhanced or regulated to serve the interests ofthe wider community.
3> The judges believe that the plan presents amarket opportunity.
> Judges feel that the business has a legitimatechance of being successful. They are convincedthat the plan is well-researched and clearlypresented and feel that it is a project for whichrequired capital could be raised.
> Judges believe that the business planrecognises limitations and challenges facingthe firm and provides realistic actions toaccommodate these issues.
Business Plan Competition Brochure 21/11/2011 15:38 Page 3
Competitionoverview
Business PlanCompetition 2012
The 2012 judging panel will be chaired by:
William S. McKiernan, founder of CyberSource Corporation.He is an online commerce pioneer who propelledCyberSource to a leading world company, processing over$100 billion each year for 300,000 customers. In 2010,CyberSource was acquired by Visa, Inc. for $2 billion.
The Chair of the Irish panel will be Denis O’Brien,Communicorp Group Ltd.
A full list of judges is available on the web sitewww.irlfunds.org/bpc.
Timeline—————————————————————————————————————————————————————————————
October – January > Promotion of competition in participating universities.> Confirm internal deadlines with participating universities.
—————————————————————————————————————————————————————————————
February – April > Participating universities hold internal competition (dates provided on web site).—————————————————————————————————————————————————————————————
May > Participating universities select up to 2 winners whose business plans will be submitted to The Ireland Funds Business Plan Competition.
—————————————————————————————————————————————————————————————
June > The Ireland Funds Business Plan Competition awards event.—————————————————————————————————————————————————————————————
ContactFor more information on the competition onThe Ireland Funds Business Plan Competition, please visit www.irlfunds.org/bpc or contact:
Jordan CampbellProgrammes ManagerThe Ireland [email protected]+353 1 662 7878
For more information, visitwww.irlfunds.org/bpc
Business Plan Competition Brochure 21/11/2011 15:38 Page 1
