Transcript Slide 1

Thank you to our Platinum Sponsor:
The Gary Karlin Michelson, M.D. Charitable Foundation Inc.
Wharton Business Plan Competition
Competition Overview
Why Take Part?
Phases and Timelines
Competition details
The WBPC has two programs to
achieve objectives
Mentoring and Education
• Encourage entrepreneurship
and innovation across the Penn
• Workshops on ideation,
teambuilding, library resources,
and others…
• Help develop business plans
and teams
• Help us identify the topics that
are most useful for you!
• Provide opportunity for business
plan refinement (pitch practice,
feedback from VC’s)
• Phases II–IV of the competition
• Help launch some very exciting
• Judges select 1 ultimate winner
from 200+ submissions
Why take part?
Get your
business plan off
the ground –
with cash!
Find an idea OR
find a business
Network with
seasoned VCs
validation and
Great Exposure
It’s fun!!!
Over $100,000 in prizes
Grand Prize: $30,000
Second Prize: $15,000
Third Prize: $10,000
Undergrad Prize: $10,000
• Top 3: $10,000 each in in-kind legal and $5,000 in in-kind
accounting services
• People’s Choice: $3,000
• Committee Awards: $1,000 each
Competitive Phases & Timeline
• Phase I: November
• Phase III: March 15
-Non-competitive round
-500 words
community provides
input on submissions
-Contact teams you are
interested in joining
Nov 2012
Dec 2012
• Idea Generation
Workshop: Mon, Nov 5
@ noon, JMHH 255
• Idea Submission:
Nov 5th- Nov 14th
• Community
Comment Period:
Nov 15th-Nov 29
-Full business plan &
closed door pitch (Mar 22)
-Compete vs. others in
track (this phase only)
-Final 8 advance to finals
Jan 2013
Feb 2013
• Phase II: Jan 25
-First competitive round
-2,000 word business
-Teams self-select into
one of three tracks
 IT/Healthcare/Other
-Top 25 teams advance
Mar 2013
Apr 2013
• Phase IV: April 24
-Venture Finals
-Final 8 present live to a
panel of judges and
-Various cash and prizes
Who can join the competition?
• Any UPenn student
• Any major, background and experience
• Non-Penn can participate BUT the team lead
must be at UPenn and actively engaged in the
development and management of the venture
Judging Criteria
• Proposed Product/Service and Market Opportunity (Weight: 33%)
– Is the value proposition sound?
– How original, innovative and thoughtful is the proposed product/service?
– Is the value proposition articulated clearly and evaluated comprehensively?
• Revenue Model and Financial Projections (Weight: 33%)
– Do the financial projections reflect an understanding of the economics and
potential growth opportunities or downside risks for the business?
– Are the financial projections comprehensive and realistic?
– Is the revenue generation plan logical and comprehensive?
• Execution Plan (Weight: 33%)
– Is the business operationally feasible?
– Is the capital requested sufficient to achieve stated milestones?
– Do the founding team members have sufficient expertise?
For additional details visit:
2011-2012 Winners
Michelson Grand Prize
RightCare Solutions
decision tool to identify, during
admissions process, patients at highrisk for readmission
Second Prize
online doctor’s office connecting
hospitals with underserved patient
populations via secure video platform
Third Prize
medical devices for the removal of
kidney stones without anesthesia
Eric Heil & Matt Tanzer
Team Members: RightCare Solutions
WEMBA-East Class 36
2010-2011 Grand Prize Winning Team
2010-2011 3rd Prize Team
2008-2009 Semi-finalist
Warby Parker
Visit us
Contact us
[email protected]
• I am concerned that someone is going to steal my idea
• Is there a minimum or maximum number of team members
allowed for a venture?
• Can I see examples of plans that have won the competition in
the past?
• My business is already generating money, can I still enter?
• I have already received some angel funding, can I enter?
• If I win, do I have to invest the prize money in my business?
FAQs & CONCERNS (cont…)
• Can I enter more than one idea into the competition?
• What types of business entities are acceptable for
• Do I have to participate in the Advisory Phase to be eligible to
participate in the Competitive Phase?
• I have an idea, but need team members – how can I find
them? OR
I don’t have an idea, but I’m a whiz at financial statements
and want to join a team