Innovations in Social and Economic Entrepreneurship
2015 Business Plan Competition
The purpose of the 2015 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, develop, and possibly gain “seed money” to implement business concepts that have the potential to bring social change and economic development to their local community through:
- Developing business plans, based on an identified social issue or need, using a social business entrepreneurship business model for their program.
- Presenting business implementation plans or delivery modes that demonstrate how the plan can impact communities.
Social and Economic Entrepreneurship Defined
It is a model of entrepreneurship that 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.
Mid-Atlantic Region: Universities and Colleges in the District of Columbia, Delaware, Maryland, Virginia, and West Virginia are invited to participate. There is a limit of two teams per university or college with a maximum of 25 participating teams for the entire competition.
Saturday April 11, 2015
9 AM to 5 PM
University of the District of Columbia
4200 Connecticut Ave. NW
Washington, DC 20008
Competition Awards ($10,000) – Sponsored by Capital One
First place: $5,000
Second place: $3,000.
Third place: $2,000
Letter of Intent to Participate
If your school is planning to participate in the competition, please send an email to firstname.lastname@example.org by 5:00 p.m., Monday January 5, 2015.
Online Registration Deadlines
Open for Registration: Friday February 6, 2015
Final Registration and Business Plans must be received by: Friday March 6, by 5:00 p.m.
Maximum pages: 15
- Teams can consist of two to six students; - no more than two students will present the plan at competition.
- Teams can be a mix of graduate and undergraduate students.
- Teams can 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:
- Executive summary – maximum 3 pages
- Company/organization’s purpose/mission
- Company/organization overview
- Description of product or services
- Pricing strategy
- Market description
- Market size and share
- Growth strategy
- Manufacturing plan (if relevant)
- Research & development
- Targeting new markets
- Historical financial date (if relevant)
- Cost control
- Effects of loan or investment
- Projected budget/financial management
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
The competition will be conducted in two rounds. The first round will be conducted in the morning of the competition; the second round will be held in the afternoon. Awards will be announced at the closing session.
- 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 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.
Criteria for Competition Judges
- 10 to 12 judges with primarily hands-on experience as entrepreneurs will be selected.
- Winners will be announced and awards presented at the closing ceremony.