Innovations in Social and Economic Entrepreneurship
2014 Business Plan Competition
Mid-Atlantic Region


Recent Announcements

2013 Competition results released. Read more »

Announcement Archives »


Competition Details

The purpose of the 2014 Innovations in Social and Business Entrepreneurship Business Plan Competition is to educate and provide an experiential opportunity to showcase the creativity of tomorrow's business leaders. This competition serves as a vehicle for students to design and develop business concepts that have the potential to bring social change and economic development to their local community through:

  • Developing innovative business plan concepts to potentially changing local/regional/national communities.
  • Developing business plans, based on an identified social issue or need, using a social business entrepreneurship business model for their program.

What is Social and Economic entrepreneurship? It takes a different perspective by emphasizing the 3P concept of profit, people and planet, otherwise referred to as the triple bottom line. Here "profit" refers to the fact that the business must create a value that is financially viable and sustainable. The concept of "people" means that it must adopt fair and beneficial practices toward labor and the community in which it operates and "planet" means that it must also adopt sustainable environmental practices.

Date:
Saturday April 5, 2014
9 AM to 5 PM

Location:
University of the District of Columbia
4200 Connecticut Ave. NW
Washington, DC 20008
Directions:
http://www.udc.edu/about_udc/campus_map

Competition Awards: $10,000.00
First Place: $5,000
Second Place: $3,000
Third Place: $2,000

Letter of Intent to Participate – Deadline February 1, 2014

Final Registration with Complete Business Plans – Deadline March 15

Target participants:
Mid-Atlantic Region: Universities and Colleges in the District of Columbia, Delaware, Maryland, Virginia, and West Virginia will be invited to participate.
Target number of participating teams - 20

Student Requirements:

  • Teams will consist of two to six students, - no more than two students will present plan at competition
  • Teams can be a mix of graduate and undergraduate students,
  • Teams work with a faculty or staff advisor to identify the need, service, or product.
  • Teams must have the support of an accredited academic institution

The plan must include the following areas: Maximum number of pages 15

  • Executive Summary – Maximum 3 pages
  • Company/Organization’s purpose/mission
  • Management
  • Company/organization overview
  • Description of Product or services
  • Pricing Strategy
  • Market Description
  • Market Size and Share
  • Growth Strategy
  • Competitors
  • Manufacturing Plan (if relevant)
  • Location
  • Research & Development
  • Innovation
  • Targeting new Markets
  • Historical Financial date (if relevant)
  • Cost Control
  • Effects of Loan or Investment
  • Projected Budget/Financial Management

Business Models: Plans can be created for one of the following models:

  • Nonprofit Entrepreneurship
  • Social For-Profit Business
  • For-Profit Business
  • Businesses can be already initiated ( 1year or less)
  • Domestically-based business

Competition Format:
The competition will be conducted in two rounds. The first round will be conducted in the morning of the competition, the second round in the afternoon. Awards will be announced at the closing session.

Round I

  • All presentations will be in a classroom setting
  • Presentation time is limited to 15 minutes, 10 minutes presentation & 5 minutes Q & A
  • There will be three to five judges per classroom
  • Judges will conduct a Q & A
  • Judges will use an Evaluation Form
  • One finalist team will be selected from each classroom presentation
  • The finalist teams will present in the final round

The Final Round will consist of the same Format.

  • The final 5 teams selected from round 1 will present
    Presentation rules will remain the same as in round 1
  • 5 to 7 of the judges will be randomly selected to judge the final round.

Winners will be announced and awards presented at the Closing Ceremony.

Competition Judges Criteria:10 to 12 judges with primarily hands-on experience as entrepreneurs will be selected.