At Culverhouse, we're serious about innovation. Our new Business Plan Competition is putting over $50,000 worth of cash and support on the line.
The Business Plan Competition will give Undergraduate, Graduate, Executive Education, Full & Part Time students a chance to pitch their business plans and ideas to real life professionals. The top 3 winners will receive up to $2,500 to be used for start up funding, office space in The Edge Business Development Center, AND consulting services from legal, financial, and start up/marketing/ managerial consultants. We also will be offering workshops about the competition filled with tips on how to be successful in it. Winning the competition provides young entrepreneurs excellent opportunities, the workshops help get them there.
The year’s competition will have two tracks including a general business track and and technology based business track.The top 3 general business winners will each receive up to $2,500 to be used for start up funding, space in The Edge Business Development Center, and consulting services from legal, financial and start up/marketing/managerial consultants.
Important Times & Dates
- Deadline to submit Intent to Compete: Friday, November 2.
- Deadline to submit completed plan: Monday, November 26.
- Competition Day: Friday, December 7.
Competition Rules
This competition is open to new ventures or to early stage existing firms.
For this competition a University of Alabama student must be an owner of the business. If there is more than one owner of the business the student must be the majority owner.
Funds won from the competition MUST be spent on launching the new venture, or growing the existing venture. Funds will be distributed in accordance with the winners statement as to how they will use the funds to start their business.
The winning businesses must be willing to establish an office in the Edge Business Development Center in downtown Tuscaloosa. The rent, CAM and utilities for the office are included as one of the prizes in the competition.
Business Plan Expectations
Submissions must be in 10 or 12 point font. You are free to choose your font, but we recommend something “standard”. Teams must set their pages to standard, 8.5 x 11 inch, letter size paper. Margins should be no less than one inch on all sides, not including header and footer.
At the top of the first page, teams must list the name of their proposed company.
Charts, tables and diagrams can be used in this phase. However, please remember that the entire document cannot exceed ten pages – no exceptions. All submissions must be made through the pitchburner website.
Please note the percentages next to each section. This represents the percentage each section will be worth towards the total score (90% shown). Each plan will be reviewed and graded by three judges. The final 10% will be allocated based on the judge’s overall impression of the business idea.
As stated previously, plans that do not follow the format and rules outlined in this document may be disqualified. If you have questions, you are encouraged to contact the Director of the competition, Professor Lou Marino at lmarino@cba.ua.edu.
Business Plan Outline
1. Executive Summary (10%)
- Overview of Idea
- Mission/Objectives
- Keys to Success
2. Products/Services and Key Problem to Solve (10%)
- Product/Service Overview
- Relevant Technology or Expertise
- Key Opportunity
3. Market Analysis (20%)
- Market Overview (Current size, growth rate, etc.)
- Target Market
- Main Competitors (Present and future)
- Distribution Strategy
- Market Entry
- Pricing Strategy
- Scalability / Ramp Up
4. Management Summary (20%)
- Organizational Structure
- Current Management Team
- Future Management Team
- Personnel Plan
5. Intellectual Property and/or “Know-how” (20%)
- Patents (if applicable)
- Expert Knowledge/Trade Secrets
- Competitive Advantage and Defensibility
6. Financial Information (10%)
- Current Sources of Funding
- Funding Needs
- Use of prize money if granted
- Breakeven Analysis
- Proposed Milestones
- Exit Strategy for Investors (if applicable)
Contact
Dr. Lou Marino
(205) 348-8946
@UABusinessPlan on Twitter
bplan@cba.ua.edu
