Global Entrepreneurship Week Business Plan Competition
Sponsors: Maxient Corporation, EngenuitySC , Student Government of the University of South Carolina, and the Faber Entrepreneurship Center
Eligibility: Must be a current, full-time student at the University of South Carolina (undergraduate or graduate). Students may enter individually, or in teams of up to four students.
Requirements: The business plan is limited to six, double-spaced, typed pages, including a one-page Executive Summary (required). The six pages do not include the cover page or the financial information.
The cover page should include the name of the enterprise, the name(s) of the student(s), class information (e.g., junior, senior, first-year graduate student), phone number, and e-mail address. DO NOT refer by name to any of the team members anywhere else in the business plan.
The financial information should include at least a projected income statement for the first two years of the venture, as well as an explanation of all assumptions in the income statements. Other financial statements (e.g., projected cash flow, projected balance sheet) are optional.
The business plan should explain what you will sell, who will buy it, why they will buy it and how. It should offer reasons why they will buy given other options; any sources of competitive advantage linked to founder’s team experience, cost structure, or other particular strategies, tactics, barriers, alliances, etc., should be included.
A pamphlet explaining the basic sections of a business plan is available on the student government web site at http://www.sg.sc.edu/ and at the Moore School undergraduate division web site at Business Plan Guideline.pdf.
Process: Completed plans must be submitted to the Student Government office in room 227 of the Russell House by 5:00 p.m. November 12. The plans will be reviewed by the Associate Director of the Faber Entrepreneurship Center, members of the Entrepreneurship Club, and representatives of Student Government to select five finalists. On November 18, the five finalists will present the business concept to a panel of judges. Two of the team members may participate in the presentation which will be limited to 10 minutes and may be accompanied by a PowerPoint presentation. That presentation must be e-mailed to Dean Kress at firstname.lastname@example.org by 12 noon on November 18. Following each presentation, the judges will have 10 minutes to pose questions to the entrants.
The November 18 competition will be open for the public to attend and will be held at 7:00 p.m. in Lumpkin Auditorium on the eighth floor of the Moore School of Business. A brief reception will follow the competition.
The first place plan will be awarded $1,000, the second place plan will be awarded $750, and the third place plan will be awarded $500.