Business Idea - Institute for Innovation & Entrepreneurship at UT ...

innovation.utdallas.edu

Business Idea - Institute for Innovation & Entrepreneurship at UT ...

2010

B Business i Id Idea C Competition i i

Kickoff – Introduction

September 16, 2010

1


Overview

Eligibility

Agenda

Intent to Compete p

Preliminary Submission

Competition Day

A Awards d

Schedule

2


“Every Problem Presents an

Opportunity” Change,

revolution,

departure departure,

introduction,

variation,

transformation,

upheaval,

alteration

newness,

novelty,

originality,

freshness,

modernization,

uniqueness

3


About About Ideas and and more…….

more…….

Everybody y y has ideas, , but “how to do something g

with it?”

Gain important, real world “business skill”

E Enhance h your rr resume m with ith“i “in “in-demand” d ddemand” m d” skills kill

Money for college (or for the business)

Free software for your y business idea

Win free time in a business incubator

Help your personal performance in classes

Know more more fellow fellow students students (networking)

(networking)

Even if you don’t win, you will “muscle build” your

personal skills, business knowledge

4


Overview

Annual UTD Business Idea Competition

Results of of 2009 2009 Competition

Competition

45 Teams competed

114 STUDENTS FROM EVERY UTD ACADEMIC SCHOOL

110+

22 semi semi-finalists finalists finalists (9 (9 undergraduate; ndergrad ate 13 13 graduate) grad ate)

Awarded prizes for top three business ideas in each division

plus most compelling idea; best presentation

Total of $30,000 in prizes awarded

Last year’s winners in both categories are pursuing the

business ideas

ideas

5


Eligibility Eligibility Criteria

Teams must be comprised of no fewer than two and no more

than five members

All members of a team competing in the Undergraduate Division

must be currently registered undergraduate students at an

accredited academic institution. A majority of the members of

the team must be currently registered (Fall 2010) UTD students.

A majority of the members of of a a team team competing in in the Graduate

Graduate

Division must be currently registered UTD graduate students

(Masters or PhD level). The remaining members of the team

may b be undergraduates, d d post post-doctoral d ddoctoral lf fellows ll or non-students

non students. d .

Prior year winners may compete, but not with the same or

similar s ssimilar a business bus ess idea. dea.

6


Intent to to Compete

Compete

Teams will be required q to register g their intent to compete p by y

email to innovation@utdallas.edu no later than noon on

October 15, 2010 using the form available on the Institute

website : : ( (http://innovation.utdallas.edu/iie-

( (http://innovation utdallas edu/iie

UTDBusinessIdeaComp.php)

Registration will require each member of the team to provide an

email address and a valid UTD student ID number (as

applicable).

A unique team team identification code will will be assigned and and must must be

be

used on all future submissions.

7


Seminar Seminar for for Writing Writing Business Business Plan

Plan

Two different seminar sessions to help py you understand the

structure and important content of a business plan

Will help you refine and develop your idea

Make you more comfortable in your presentations

Only need to attend one session

If needed, needed send some team team members members to to each each session session to to ensure ensure everyone

everyone

on your team is covered

First session: 10:00am – 1130am, September 23, SOM 2.801

Second session: 5:00pm – 6:30pm, September 23, SOM 2.801

Bring your questions, and find out how to write a great plan

8


Preliminary Submission

Submission

Your preliminary submission must be submitted as an

email attachment to innovation@utdallas.edu no later

than 4:00 PM on October 28, 2010.

Your submission must must include:

include:

Cover Page – Project Title, with Team ID code.

Body – See content outline (maximum 7 pages, double

spaced, 11 point type)

Team ID code on the header of each page

Original signature page page, with signatures and UTD student ID

ID

numbers of all team members must be submitted in person

(SOM 4.213) or by mail to: Nancy J. Hong, Assistant

Director Director, IIE. IIE

9


Content Outline –

Preliminary and Final Submissions

A concise description p of the proposed p p business and why y it is

unique/compelling

Target Market (who is your customer? What customer problem

will w you y solve? v How w does your y customer solve v that problem p b

today? What other solutions will compete for that customer?)

Market Opportunity (preliminary estimate of the size of the

potential market [number of of customers customers that that can can be be reasonably

reasonably

addressed]).

Proposed Solution (what is your product/service? How will it

solve the problem? problem? How How does does your your solution solution create create exceptional

exceptional

value for the customer?)

Business Model (how will you generate revenues and profits?)

10


Evaluation Criteria –

Preliminary Submission

Preliminary submissions will be judged by a reviewer panel using the

following criteria (equally weighted):

Originality (business idea is new, novel, unique)

Clear and compelling value proposition (legitimate, recognized need; appropriate

solution)

Competitive advantage (creates more value for customer than alternative

solutions)

Market opportunity (adequate market size; viable business model)

Feasibility (reasonable prospect of funding and successful implementation)

Semifinalists (generally the top 12 in each division) will be announced and

further instructions provided on November 5, 2010 by email to each team.

All semifinalists will receive an invitation to join MS BizSpark and receive free

software, from IIE (a BizSpark Network Partner) ……..

11


IIE: Official BizSpark Network Partner

• Microsoft BizSpark

is a global program designed to help accelerate the

success of early stage startups, providing:

Visibility

Software

Support

Software

• Development tools and technologies to

build applications pp

• Server licenses to host them

Support

• Community support Network Partners

• Professional technical support from

Microsoft

Visibility

• Profile and promotion on the BizSparkDB

on www.microsoftstartupzone.com

12


Benefits to to Qualifying Qualifying Teams

Teams

Advance Innovation:

Get access to valuable technology technology-based based benefits and cross-

platform products – at no cost. 3 year program ($100 exit fee)

Receive a a code to to join join from from IIE, IIE a a BizSpark Network Network Partner

Partner

Build relationships and expand reach

Get connection connection with with new, new high high-potential potential technology startups

that are already a part of the Microsoft BizSpark software

program

Marketing exposure as a BizSpark member.

13


Presentation Practice Sessions –

from Entrepreneurship Club

Practice sessions provided p before the competition p day y to refine y your

presentation and skill.

Informal, not required, but highly recommended to improve your

chances

Audience will be graduate students; no judges, or officials are

involved.

Peer level level feedback feedback that that you you can can use use or or not

not

2 sets of times to best fit your team’s class schedules:

November 11, SOM 3.216, 4:00pm – 6:30pm (multiple sessions)

November 12, SOM 1.110, 4:00pm – 6:30pm (multiple sessions)

See signup sheet outside SOM 4.213 – FIRST COME, FIRST

SERVED

14


Competition Day –

Presentation Requirements

Prepare p and electronically y ysubmit

submit a 12-15 12 15 minute MS PowerPoint

presentation (maximum 20 slides) detailing your business idea and

addressing each point in the content outline.

Final presentations are due by email at 4:00 PM on November 16 th p by N v b .

Additional 1 page written Executive Summary document is required.

Finalists will use the MS PowerPoint slide deck to present their

business ideas ideas to to a a panel panel of judges judges.

All team members must be present for the presentation and to

answer questions.

E Each h team will ill b be allowed ll d 15 minutes i f for presentation i and d 5

minutes for questions and responses (10 min in finals). Time limits

will be strictly enforced.

15


Semi

Competition Day - Schedule

Semi-final final Competition - morning

E Each h semifinalist ifi li t will ill present t their th i business b i idea id to t a panel l of f

judges in the morning round (six teams in each of two

preliminary rounds per division)

The top two teams from from each group will b be named d as finalists

Finalist Competition - afternoon

Each finalist team will present again in the afternoon (four

(four

teams in each division)

The winners (first, second, third and fourth place prizes) in

each division will be selected by a a new new panel panel of of judges. judges

Awards Ceremony

Awards will be presented p shortly y after the final round.

16


Business Idea (70%)

Competition Day –

Evaluation Criteria

Originality (business idea is new, novel, unique)

Clear and compelling value proposition (legitimate, recognized need;

appropriate solution)

Competitive advantage (creates more value for customer than alternative

solutions)

Market opportunity (adequate market size; viable business model)

F Feasibility ibili (reasonable ( bl prospect of f funding f di and d successful f l implementation)

i l i )

Presentation (30%)

Presentation materials (clear, comprehensive, logical flow)

Delivery (clear, compelling, persuasive)

Q&A (answered judges questions directly, clearly, effectively)

Time management (effective use of allotted time)

17


Projected Awards Awards & & Prizes

Prizes

Winner (each division) $4,000 per team*

First runner-up runner up (each division) $2,500 per team

Second runner-up runner up (each division) $1,750 per team

Thi Third d runner runner-up up ( (each h division) di i i ) $750 per team

Most Effective Presentation $500 per team

Top team team in in each division will also receive 1 free month month of of Resident

Resident

Membership and coworking space at Cohabitat (uptown Dallas)

Awards will be made in cash or applied as a scholarship award to the

UTD student accounts of the winners (tax effects are different)

* Winning teams will also receive a travel expense allowance of up to $1000 per team

to compete compete in in intercollegiate intercollegiate business plan competitions in Spring 2011.

18


Free Office/ Office/Coworking

Office/ Office/Coworking Coworking Space

CoHabitat: : A coworking space for

d developers, l creative i people l and d

entrepreneurs, in uptown area of

downtown Dallas.

CoHabitat

They are contributing 1 free month

of “Residential Membership” to top

winner inn r in each h di division i i n ($275 value l

for each).

Location, ,p parking, g, Wi Wi-Fi, Fi, , monitors, ,

kitchen, admission to tech social

events (www.cohabitat.us)

19


Schedule Recap

EEvent DDate Ti Time LLocation i

Business Idea Competition –

Kick Off

September 16, 2010 4:30 PM SOM 1.217

BBusiness i Pl Plan WWriting i i SSeminar i SSeptember t b 23, 23 2010 10 10:00-11:30 00 11 30 am

or

SOM 2.801 2 801

5:00-6:30 pm

SOM 2.801

Registration – Intent to

Compete

October 15, 2010 12:00 PM Online

Preliminary Submission Due October 28, 2010 4:00 PM Email & Drop Off

Announcement of Semifinalists

November 5, 2010 1:00 PM Email

Presentation Practice (#1) November 11, 2010 4:00pm – 6:30pm SOM 3.216

Presentation Practice (#2) November 12, 2010 4:00pm – 6:30pm SOM 1.110

Semi-finalist Submission Due November 16, 2010 4:00 PM Email

Competition Day November 19, 2010 8:00 AM

1:00 PM

4:00 PM

SOM 1.102,

1.107,1.110,1.117,

1.212,1.217 ,

20


Handouts:

Questions? Quest o s?

- 2010 UTD Business Idea Competition Rules & Procedures

- BizSpark benefits and software sheet

H Handouts: d

Schedule Recap

For For further further information information contact:

contact:

Daniel C. Bochsler ( (dcb091000@utdallas.edu

dcb091000@utdallas.edu) ) - (972-883 (972 883-5833) 5833)

Nancy J. Hong ( (nancy.hong@utdallas.edu

nancy.hong@utdallas.edu) ) - (972-883 (972883-5982)

5982)

Darlene Norsch ( (den101000@utdallas.edu

den101000@utdallas.edu) ) - (972-883 (972883-4924)

4924)

Or innovation@utdallas.edu

21

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