2009 Mark Ain Business Model Compeition Guidelines

ELIGIBILITY

  • All participants must currently be enrolled at the University of Rochester.
  • Students from both undergraduate and graduate schools are encouraged to participate.
  • Workshop attendance is free and open to all members of the University.
  • Fee for business plan submission is waived for undergraduates and members of Simon Entrepreneurs Club. There will be a $50 fee per submission for teams comprised of non-undergraduates and/or non-Simon Entrepreneur Club members. 

AWARDS

Cash prizes have been made possible by the generous donation of Simon alumnus Mark S. Ain ’67, founder of Kronos Incorporated.

  • 1st Place: $10,000
  • 2nd Place: $2,500
  • 3rd Place: $1,000

RULES

  • Teams may consist of no more than five individuals and it is recommended to have at least two members on each team.
  • Submittals for the first round of judging are due no later than 4 p.m. on April 27, 2009.  Submissions can be dropped off at the Center for Entrepreneurship, 1-211 Carol Simon Hall or sent electronically to andrea.galati@simon.rochester.edu.
  • The business model must be in the idea, development, or start-up stage. Submittals for a business that is already earning revenue will not be considered.

GUIDELINES

  • Business models must include an executive summary and should address issues such as a market assessment, technical viability (if applicable), financial projections, management viability and potential for scalability.  A business feasibility outline resource guide is available and participants are encouraged to use this resource in writing their business models. 
  • Submittals must include the following application information:
    Team/Company Name
    Industry
    Management Team Members: Include full names, titles, Schools, and class years
    Management (100 words): Explain what makes your team ideal to build this business
    One Line Pitch (30 words)
    Executive Summary (100 words)
    Customer Problem (40 words)
    Your Solution (100 words)
    Target Market (100 words): Include market size, growth rate, segmentation, and market structure where applicable
    Marketing & Sales Strategy (100 words)
    Business Model (40 words)
    Competition (100 words)
    Competitive Advantage (100 words): List barriers to entry, any patents, and/or technology
    Funds Needed
    Use of Funds
    Financial Snapshot: Show total revenue, total expenditure and net for each year over a 5-year projection period
    Exit Strategy
    Appendix: Include any diagrams that show or demonstrate your product or service
    Remember to attach a complete business plan!
  • Submittals must be no longer than 10 pages written, and no more than 20 pages total with supporting graphs, charts, financials, etc.

JUDGING

  • First round screening will be based on the review of the written application information and executive summary. 
  • Second round screening will be based on review of the full submittal.
  • Finalists will be notified by May 4, 2009 and will present their business models to a judging panel on May 13, 2009 for prize consideration. 

CONTACT

Address questions to the Simon Entrepreneurs Club at entrepreneurs@simon.rochester.edu or to the Center for Entrepreneurship at 585.276.3500 or cfe@rochester.edu.