Mark Ain Business Model Competition

Overview

The Mark Ain Business Model Competition, established in 2007, provides aspiring student entrepreneurs at the University of Rochester an opportunity to present their business idea (in any industry) and compete for $13,500 in cash prizes. The competition is preceded by a series of workshops that cover such topics as: articulation of their concept, sizing up market dynamics, development of business and operational models, and exposure to startup implementation issues. The workshops are free and open to the public and are not a prerequisite for the competition.

The competition is open to current University of Rochester students at any level of study, and is made possible by support from Simon alumnus and entrepreneur Mark S. Ain ’67S (MBA), founder of Kronos Incorporated, the Chelmsford, Massachusetts-based market leader in the workforce management industry.

Eligibility

• Applications must be submitted online. Click the Apply button to the right to access the online application.
• All competition participants must currently be enrolled at the University of Rochester. Only active UR students in good standing are eligible to present the business model in the semi-final and final rounds and receive prize money. However, companies may include non-UR students on their executive team.
• Students from both undergraduate and graduate schools are encouraged to participate.
• Workshop attendance is free and open to all members of the University and general public.
• Fee for business plan submission is waived for undergraduates and members of the Simon Entrepreneurs Association. There will be a $50 fee per submission for teams comprised of non-undergraduates and/or non-Simon Entrepreneur Association members.

Rules

• Teams may consist of no more than five individuals and it is recommended to have at least two members on each team.
• All deadlines for the current academic year are listed to the right:
  • First deadline: submissions for the preliminary written round of judging
  • Second deadline: the ten (10) semi-finalists must submit their complete business plans online
  • Third deadline: the ten (10) semi-finalists must submit their presentations (slide decks) online
• The business model must be in the idea, development, or start-up stage. Entries for a business that is already earning revenue will not be considered.

Awards

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

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

Guidelines for Submissions

• Entries must be submitted via the online application 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.
• Applications must include the following information and are limited to two (2) pages (not including a cover page and appendices; below word counts are only a guideline):
• 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)
• Abstract (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
• Appendices: Include any diagrams that show or demonstrate your product or service
• Complete business plans must be no longer than 10 pages written, and no more than 20 pages total with supporting graphs, charts, financials, etc.

Judging

• The first round screening, preliminary judging, will be based on the review of the written application information. Up to ten (10) semi-finalist teams will be selected.
• The second round screening, semi-finalist judging, will be based on an oral presentation of the business model, including slide decks, and the full, written business plan of the semi-finalist teams.
• Up to five (5) finalist teams will be notified by May 5, 2017, after the oral presentations in the semi-finalist round. Finalists will have the opportunity to practice their presentations with coaches prior to the final competition round. The five (5) finalist teams will present their business models to a judging panel in mid-May 2017 for prize consideration. Winners will be announced the day of the finalist competition.

Resources

Schedule of Events

There are no upcoming events at this time.