Guidelines and Rules

INLAND NORTHWEST
BUSINESS PLAN COMPETITION 2010-2011

A collaboration of:

Gonzaga University, Hogan Entrepreneurial Leadership Program
Eastern Washington University, Center for Entrepreneurial Activities
Whitworth University, School of Global Commerce and Management

Overview

The Inland Empire Business Plan Competition (BPC) is open to students of Eastern Washington University, Gonzaga University, and Whitworth University.  After submitting an online application in late February, each team will submit a three-page executive summary in late March. This summary will be judged and up to nine teams in each of three categories will be selected to submit a full business plan. Five finalists will be selected in each category to make an oral presentation in mid-April. Based on the judges' scoring of the written plan and the oral presentations, three teams will be selected as cash prize winners in each of the three categories.

Categories
Plans may be entered in one of three categories:
Student Enterprise Plans - This category is for undergraduate student teams who submit a plan based on an original student idea. Awards are $10,000, First Place; $5,000, Second Place; and $2,500, Third Place.
Community Enterprise Plans - This category is for teams who: a) work with community-based entrepreneurs on for-profit venture ideas originated by the entrepreneur; b) for graduate student teams who submit a for-profit plan based on an original student idea; and c) for students from the Avista Entrepreneurship Program at Spokane Community College who submit a for-profit plan from their program. Awards are $7,500, First Place; $3,500, Second Place; and $1,500, Third Place.
Social Enterprise Plans - This category is for undergraduate and graduate teams who work with local non-profits or create their own non-profit organization. Awards are $7,500, First Place: $3,500, Second Place; and $1,500, Third Place. Two types of social enterprises can be entered:

1. New non-profits that are financially sustainable and have a significant social return on investment (SROI)
2. Significant revenue-enhancing extensions of existing non-profits; these enhancements must be financially sustainable and have a significant SROI. 

Students participating in the BPC may receive a number of additional benefits: mentoring, legal advice, coaching, access to potential angel investors or other sources of funding, public relations support, and other opportunities for exposure to the market.

Only individuals or teams of undergraduate or graduate students from Gonzaga University, Eastern Washington University, and Whitworth University who are enrolled and matriculated for at least one term in the 2010-2011 academic year and students enrolled in the Avista Entrepreneurship Program at Spokane Community College in the 2010-2011 academic year are eligible for participation in the competition.

Competition Schedule

Judging Criteria

Business plans will be judged by an independent panel of experts.

The Executive Summary should include the following elements:

Student Enterprise and Community Enterprise Plans:
Overview – Tell what you do.
Market – Identify the opportunity (problem or need) and its size/scope.
Solution – Describe your product or service and relate it to the opportunity.
Challenges – Identify key competitors, market trends, regulations.
Advantages – Identify your special strengths (i.e. intellectual property, management, first to market).
Financial Data – Summarize revenue, earnings, cash-flow, and break-even forecast.
ROI  – Identify needed capital and projected return to investors, including social return.

Social Enterprise Plans:
Overview – Tell what you do.
Market – Identify the opportunity (problem or need) and its size.
Solution – Describe your service and how it solves the problem or need.
Challenges – Identify key alternatives, social trends, regulations, local support.
Advantages – Identify your special strengths (i.e. alliances, management, uniqueness).
Financial Data – Summarize need, source and use of funding.
SROI & ROI – Quantify the Social (and possible economic) Return on Investment.

The Business Plan will be evaluated in the judging round based on:
1.  How thoroughly are each of the following categories researched and presented?
Overview –
Market –
Solution –
Challenges –
Advantages –
Financial Data –
SROI & ROI –
(see Executive Summary above for further description of each element)
2.  How logical are the plan’s conclusions and assumptions?
3.  How well is the plan written; is it clear and concise?
4.  Does the plan provide adequate information to determine potential for success?
5.  Is the return to investors and the social return to stakeholders attractive?
6.  Does the plan present a compelling argument for launching the enterprise?

The Presentations in the judging round will evaluated on:
1.  How well does the presentation address the key elements of the plan?
2.  What is the overall quality of the presentation (i.e. delivery, flow, visuals)?
3.  Does the presentation inspire confidence in management’s knowledge and ability?
4.  Do the presenters display passion and commitment to their plan?
5.  How well are questions and objections handled?
6.  Does the presentation contain a compelling argument for launching the business?

Rules for 2010-2011

1.  To be eligible, all business ideas and proposed ventures must be compatible with the missions and values of the participating institutions.

2.  Plans must be entered in one of the following three categories: 

          a.      Student Enterprise Plans - This category is for undergraduate student teams who submit a plan based on an original student idea. 

          b.      Community-Based Plans - This category is for teams who: a) work with community-based entrepreneurs on for-profit venture ideas originated by the entrepreneur; b) for graduate student teams who submit a for-profit plan based on an original student idea; and c) for students from the Avista Entrepreneurship Program at Spokane Community College who submit a for-profit plan from their program. 

           c.      Social Enterprise Plans - This category is for undergraduate and graduate teams who work with local non-profits or create their own non-profit organization.  Two types of social enterprises can be entered:

                    i.  New non-profits that are financially sustainable and have a significant social return on investment (SROI)

                    ii.  Significant revenue-enhancing extensions of existing non-profits; these enhancements must be financially sustainable and have a significant SROI. 

3.  All team members must be enrolled and matriculated undergraduate or graduate students at Gonzaga University, Eastern Washington University, or Whitworth University for at least one term in the 2010-2011 academic year or must be enrolled in the Avista Entrepreneurship Program at Spokane Community College during the 2010-2011 academic year.   

4.  Each team must submit an online application form. 

          a.    This form must be submitted by 5:00PM, February 24, 2011 at www.gonzaga.edu/entrepreneur

          b.     Each team member must be identified by name on the online entry form.

          c.     Subsequent changes to this form can be made only with the written consent of all team members who were originally entered on the form. 

5.  An executive summary of no more than three pages must be submitted to cooneyn@gonzaga.edu via email in Adobe Acrobat PDF format.  No other format will be accepted. 

           a.     The executive summary must be submitted by 2:00PM, March 18, 2011.

           b.     The email subject line must include the plan name and the plan category.

           c.      The executive summary shall be no more than three pages, typed, double-spaced, minimum 12 point font, and margins of 1” on all sides. 

           d.     The executive summary must include a cover page that includes the plan name, plan category, a one-paragraph description of the business, names of team members, and the phone number and email addresses of the key contact.  This cover page does not count towards the three page limit.

6.  Teams selected to advance to the plan judging round will be notified on March 29, 2011.

          a.      Each team must submit one printed and one electronic copy of its business plan by 5:00PM on April 5, 2011 to the Hogan Program Office, Jepson 242, Gonzaga University.  Plans must be submitted to cooneyn@gonzaga.edu via email in Adobe Acrobat PDF format. No other format will be accepted.  

          b.     Plans are limited to 20 pages.  

          c.      Detailed spread sheets and appropriate appendices should follow the plans and be limited to no more than 15 pages. 

          d.     The plan must also include a cover page containing the plan name, plan category, a one-paragraph description of the business, names of team members, and the phone number and email address of the key contact.  The cover page will not count towards the page limit.   

          e.      The printed copy must be spiral bound (no ring bounders, folders, etc.) and the electronic copy must be in a single PDF file that can be forwarded to each judge in the category.

          f.       All plans must be accompanied by a Certificate of Compliance signed by all team members.  (This document will be emailed to the key contact of each team that is selected to advance to the judging round.) 

          g.     Changes or additions to the plan will not be accepted after the plans are submitted. 

7.  Teams selected to advance to the final round shall be notified by email on April 12, 2011.

8.  Oral presentations will be scheduled on April 18, 2011 at Whitworth University in Weyerhaeuser Hall. 

          a.      Each team will have 20 minutes to make an oral presentation followed by up to 10 minutes of questions from the judges.

          b.     PowerPoint or other presentation aids are encouraged.  A computer, projector, and screen will be provided.

          c.      The oral presentations and question/answer sessions are open to the public at large.  Any data or information discussed or divulged in public sessions by entrants should be considered information that could possibly enter the public realm, and entrants should not assume any right of confidentiality in any date or information discussed, divulged, or presented in these sessions. 

          d.     A team, once it has finished its presentation may observe both the presentation and Q&A session of the teams that follow it. (Teams may not observe other presentations until AFTER they have made their presentation.) 

9.  Students may not contact Judges at any time during the competition until after final decisions and awards have been made. 

10.  Due to the nature of the competition, judges, reviewers, staff, or the audience will not sign non-disclosure statements.  However, every effort will be made to limit distribution of business plans only to judges of the competition. 

11.  The decisions of the judges are final and may not be appealed. 

12.  In the event a team is awarded prize money, the total award amount will be divided equally among the team members listed on the Entry Form.  Changes in team members can only be made with the written consent of all team members listed on the form.  This rule applies to all three categories of the competition.

13.  Prize winners from any previous BPC may not re-enter the same or revised business plan in any subsequent year. 

For further information: