Transcript 2015 Info Session Slides

Mid Hudson Regional Business Plan
Competition
hosted by Marist College
April 10, 2015
MHRBPC
http://www.marist.edu/mhrbpc/
REGIONAL CHAMPIONS
“No official U.S. Government or Service Academy endorsement is implied. The views and opinions
expressed by this organization do not necessarily state or reflect those of the U.S. Military
Academy, Department of the Army, or Department of Defense.”
REGIONAL CHAMPIONS
Thank you for your hard work and support!
Planning Committee
David Gavin, Marist College
Anthony DiMarco, Marist College
Regional Champions
Kathleen Boyle, School of Communication & the Arts, Marist College
James Regan, School of Social and Behavioral Sciences, Marist College
Kevin Callaghan, School of Computer Science & Mathematics, Marist College
Maureen Cross, Mercy College
Scott Willmen, Dutchess Community College
Lissa Young, West Point Military Academy
Kristin Backhaus and Lori Nutting, SUNY New Paltz
Moira Tolan, Mount Saint Mary College
Mary Sudol, SUNY Sullivan
Susan Smith, Vassar College
Mindy Kole, SUNY Ulster
Don Urmston, SUNY Orange
Michael Araujo, Dutchess Community College
Annette Graham, Culinary Institute of America
Cameron Rabe, Culinary Institute of America
Eridania Quinn, Westchester Community College
Eligibility Requirements
•
•
•
•
•
•
•
•
Open to all undergraduate and graduate students from accredited colleges in the
Mid-Hudson region
– Must have been enrolled during the 2014-2015 academic year
Teams of 1-6 students
Must have a faculty or staff advisor; offering guidance, support and technical
expertise
Ventures should fall into one of the following categories:
– Biotechnology/Healthcare
– Information technology/Software Development
– Nanotechnology/Advanced Technology
– Clean Energy/Sustainability
– Products/Services
– Social/Non-Profit
Planning committee reserves the right to assign your idea into a different category
based on the definition for the particular categories
Students may not participate on more than 1 team each year of the competition
Cumulative public and private capital raised may not exceed $100,000
Student ownership of the venture must be 100%
Categories
o
Biotechnology/Healthcare
Any idea, technology, product, and/or service that relates to healthcare, biomedical, pharmaceutical, and/or life science applications.
Examples: New method for testing pharmaceuticals, all-natural mosquito repellent, CPR training services, physical therapy massager.
o
Energy/Sustainability
Any idea, technology, product, and/or service that relates to energy, clean energy, renewable energy, energy efficiency, environmental,
and/or sustainability applications. Examples: Composting subscription service, LED manufacturing technology, lithium ion batteries,
clean energy crowd funding service.
o
Information Technology/Software
Any idea, technology, product, and/or service that relates to apps, informational technology, software, and/or internet applications. All
teams using apps, regardless of the application and/or service that it offers, fall into the Information Technology/Software category, with
the exception of apps supporting a social/non-profit enterprise. ***If the value that your company provides lies in the creation of or is
delivered through an app, then you belong in this category. Examples: An app that helps pair potential roommates, a website/app that
uses social media to collect payments from friends, a web service designed to tailor resumes for specific jobs, file sharing service.
o
Nanotechnology/Advanced Technology
Any idea, technology, product, and/or service that relates to materials science, advanced hardware, semiconductors, optics, and/or
electronics applications that are not applicable to Biotechnology/Healthcare and Energy/Sustainability. These products and processes
have been likely developed after years of laboratory research and have patent protection. Examples: High-performance skis coated with
nanomaterial, data transmission device, vibration detector.
o
Social Entrepreneurship/Non-Profit
Any idea, product, and/or service that addresses a social need, for which profit is not the primary motivation, or provides a
product/service for non-profits. If formed, the venture would be either a Benefit corporation or be eligible for 501(c) status. Apps and
websites with non-profit missions should compete in this category. Examples: Selling a good or service that raises awareness and
donates a significant portion of the revenues to a cause, organization that provides financial literacy training, cooperative non-profit
coffee shop, bike trail, a website to connect community members with volunteer opportunities.
o
Products/Services
Any idea, product, and/or service that does not fit any of the other categories falls into the Products/Services category. Examples:
Workout equipment, bakery, brewery, dessert delivery service.
Prizes
• A maximum of two teams from each of the 6 categories will be
invited to the statewide final competition held in Albany on
Friday, April 24, 2015
• Depending upon sponsorships, these teams will receive funding
to attend the NYS competition
• What’s up for grabs at the state level?
– Over $500,000 in cash and in kind prizes
– Last year’s grand prize winning team took home $100K in cash
and in-kind services
2014 Winners
New York State Competition info
http://www.sunycnse.com/newyorkbusinesspla
ncompetition.aspx
NYS Competition History
Since 2010, over 570 student teams
have pitched their ideas and ventures
at this competition. By the end of
2013, more than $800,000 in cash and
in-kind prizes have been awarded to
student entrepreneurs in New York.
Participating
Institutions
Investor Judges
Total Prizes
2010
5
15
$25,000
2011
12
20
$116,000
2012
25
34
$166,000
2013
57
160
$500,000
Additional Benefits
• Ventures are able to showcase their
business/technology to an audience of
seasoned business professionals and investors
• Network with potential investors, service
providers, strategic partners, and seasoned
executives
• Network with other like-minded
entrepreneurs from cross NYS
• Gain valuable experience
2015 timeline
• Applications accepted for regional competition- teams should begin fine tuning their ideas
Currently
• Application deadline
March 13, 2015
March 13, 2015 –
March 27, 2015
March 20, 2015
• Committee externally evaluate applications
• Notify regional teams selected to present
• Teams work with mentors to refine pitch
• Final presentations due
April 6, 2015
• Regional Business Plan Competition
April 10, 2015
• New York State Business Plan Competition
April 24 2015
Judging
Judges at the business plan competition rate participating teams based on the following criteria:
• Compelling Idea/Venture
• Founders & Team
• Pitch Quality
Judging rubric categories:
• WHY YOU? Does the individual or team have the ability, skills, and passion to implement this
business, non-profit, or produce the product or service? If this requires technology or production
of a prototype, does someone on the team have the skill to do it?
•
WHO CARES? Is there a market locally, nationally, or internationally for this product or service? If
this is a social/nonprofit venture, is there a significant need begin met? Have the students spoken
with prospective customers?
•
SO WHAT? Does this team already have a venture in place and already operating? If this is a
product or service do they have a prototype or have they already started offering the service?
•
PRESENTATION and Q&A clear, concise and effective overview of the venture, product, or
service. Ability to succinctly respond to judges' inquiries and give substantive answers.
Sample Format
Company Name at the top of each slide
1.
Mission and purpose
2.
Business model
1.
How will your business generate sustainable profits?
1.
Value Proposition
2.
Key strategies
2.
Company history
1.
When and why was the company formed?
2.
What is the ownership structure; principal stakeholders
3.
Product
1.
Describe the product or service
1.
Customer benefits
2.
Differentiation from competitors
2.
How to keep others out, barriers to entry (e.g. patents, proprietary process, competitive advantages, etc.)
3.
Keep technical description to a minimum
4.
Markets
1.
Who are the key customers (Names, demographic profile, etc.)
2.
Size of markets and growth rate
3.
How to reach these markets
4.
Other trends likely to influence market
5.
People
1.
Management team and relevant experience especially that which is related to start-ups
2.
Industry experience
3.
Other key people and advisors
4.
Number, mix and capabilities of employees
6.
Financial
1.
Current sales/sales anticipated in 3 years (pricing and volume)
2.
Margins
3.
Relative to financing needs
1.
How much is needed, and when
2.
How will it be used
3.
How it will be repaid to investors and/or debtors (if applicable)
7.
Achievements to date
1.
Important milestones
2.
Next Steps
Case in Point: 2013 Grand Prize Team
WordsEye
2014 1st Place Products & Services
KettleShell