Mid Hudson Regional Business Plan Competition hosted by Marist College April 11, MHRBPC

Transcription

1 Mid Hudson Regional Business Plan Competition hosted by Marist College April 11, 2014 MHRBPC

2 REGIONAL CHAMPIONS

3 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 Mindy Kole, SUNY Ulster Don Urmston, SUNY Orange Andrew Weiss, Mount Saint Mary College Lori Nutting, SUNY New Paltz Michael Araujo, Dutchess Community College Annette Graham, Culinary Institute of America Cameron Rabe, Culinary Institute of America Jean Morris, Culinary Institute of America

4 Eligibility Requirements Open to all undergraduate and graduate students from accredited colleges in the Mid-Hudson region Must have been enrolled during the 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%

5 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 25, 2014 There will also be a new category: Best Overall Business Plan Depending upon sponsorships, these teams will receive funding to attend the NYS competition What s up for grabs at the state level? Over $225,000 in cash and in kind prizes Last year s grand prize winning team took home $100K in cash and in-kind services 2013 in SUMMARY (MHRBPC) Over 70 people gathered on April 12, 2013 at the beautiful Hancock Center for the first annual Mid-Hudson Regional Business Plan Competition. Eighteen team applications were received from colleges and universities across the region. Sixteen teams went head to head at the regional level and faced an esteemed panel of judges comprised of venture capitalists, angel investors, seasoned entrepreneurs and community leaders. The six teams outlined below were awarded the opportunity to compete at the state competition for over $100,000 in cash and in-kind services. PRODUCTS AND SERVICES Struggle Life Clothing from Dutchess Community College MARZ Footwear and Clothing from Marist College School of Communication and the Arts (Fashion) SOCIAL/NON-PROFIT Engage from Marist College School of Communications and the Arts Congratulations!- Winners of the People's Choice Award - $1,000 prize HEALTHCARE/BIOMEDICAL Race Response Technologies, Inc. from Marist College, School of Management Congratulations! - Winners of the People's Choice Award - $1,000 prize ENERGY/SUSTAINABILITY MooTech from SUNY New Paltz - MBA Program IT/SOFTWARE Higher Q from Marist College, School of Management

6 New York State Competition info ition.aspx

7 NYS Competition History

8 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 $25, $116, $166, $500,000

9 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

10 Sponsorship Benefits Access to participating students from major college and university communities throughout the 7-county region Opportunity to network with investors as well as other business and political leaders who participate in the program Exposure to the future business leaders in the community Opportunity to support and encourage the entrepreneurial spirit and help advance the technology transfer originating at the region s leading academic institutions Opportunity for economic development and job creation

11 Sponsorship Opportunity SPONSORSHIP LEVELS Title Lead Supporting sponsor Sponsor Commitment $25,000 $10,000 $5,000 Sponsor name on prize certificate XX Invitation to serve on judging panel XX XX Networking Reception XX XX XX Opportunity to address the group at the awards reception XX Exclusive Event Title Sponsor recognition on marketing collateral- recognition at the state level XX Event press release recognition XX XX XX Recognition on outreach mail campaigns XX XX XX Recognition on event invitations XX XX XX Sponsor information on website XX XX XX

12 2014 timeline Currently Applications accepted for regional competition- teams should begin fine tuning their ideas March 14, 2014 Application deadline March 14, 2013 March 28, 2014 Committee externally evaluate applications March 31, 2014 Notify regional teams selected to present Teams work with mentors to refine pitch April 7, 2014 Final presentations due April 11, 2014 Regional Business Plan Competition April 25, 2014 New York State Business Plan Competition

13 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.

14 Overall Best Business Plan Judging Criteria: Clear vision, mission and aligned goals Well-defined organizational structure Evidence of efficiency and effectiveness built into the plan Demonstration of leadership qualities on the team Do you have the skills on your team to be successful? Strong culture Demonstrated understanding of competitive landscape Good understanding of financing needs and revenue projection Passionate and eloquent presentation

15 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

16 Case in point: BESS Technologies 2010 NYBPC first prize winner University at Albany Anodes for Li-ion batteries $150K NSF grant $390K NYSERDA grant Currently going through due diligence with private investor for $1.5 Million seed round

17 Case in point: HELIOS 2011 NYBPC grand prize winner Syracuse University UV-C Sterilization Systems Established relationships with potential customers prior to competition Upstate Medical Center Syracuse VA Medical Center Startup Open s GEW 50 Most Promising Companies for

18 Case in Point: Radiator Labs 2011 Nanotechnology /High Tech Winner Columbia University Making steam heating systems more energy efficient $225 K awarded at 2012 MIT Clean Energy And DOE Clean Energy Business Plan Competition Large scale pilot project at Columbia University 3 full-time employees in NY

19 Case in point: Strong Arm Technologies 2012 Grand Prize winner

20 Case in Point: 2013 Grand Prize Team WordsEye