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Competitions

The Business Plan stage is the final stage of the Business Innovation Competition. It is designed to identify new ventures that are ready to be launched.
The Business Plan stage is open to students, faculty, staff and alumni of Temple University. Plans must address the creation of a new business in the Philadelphia region and not the expansion of an existing business. Participants may be individuals or teams.  Teams may include members without ties to Temple, but the founder/ CEO/ main shareholder of the company must be affiliated with Temple University.
To enter the Business Plan portion of the competition, describe in no more than fifteen pages (excluding the title page and table of contents):

  • Describe the market problem/opportunity
  • Describe your product or service and how it will meet this opportunity
  • Describe how your firm will generate revenues and profits
  • How large is your target market and your competition?
  • Why is your product/service better than anything else in the market?

Finalists in the Business Plan Competition will be asked to present their plans or prototypes in-person during a final judging session on March 30.

Have an idea but need other expertise on your team?  Would you like to team up with students from other Temple schools?  Check out the Team Builder Bulletin Board. Also check here to see if you can team up with someone who already has a great idea, but needs some help.

To pick up a hard copy example of a student business plan, contact Jaine Lucas at jaine.lucas@temple.edu.

Judging and Confidentiality
Submissions will be judged by a panel of experienced entrepreneurs, technology professionals, consultants, investors, and senior executives. Finalists will be judged for their presentations and ability to answer questions as well as their business plans.
All ideas and business plans are viewed only by IEI professional staff and competition judges, who are committed to keeping the utmost confidentiality and privacy, regarding all submissions as the intellectual property of the submitters. Any hard copies of submitted material and judging comments not picked up by authors within one month after the competition are shredded and destroyed. All concepts remain the property of the submitter and are neither released nor discussed with anyone other than IEI professional staff and judges without the express permission of the author. Winning concepts will be publicized in Temple and external media.

Awards
Business Plan Competition winners will win cash, sponsor products, publicity and the opportunity to present at the Temple University Global Innovation and Entrepreneurship Expo and other external forums.  Prize packages also include in-kind services.

Guidelines
Download the business plan template at http://sbm.temple.edu/iei/business.html
Winning plans will convince the judges that your venture is ready for launch. Judges will consider whether:

  • There is a market - a group of buyers willing and able to pay - for your product or service.
  • The product or service fits well with the industry and geographic market you describe.
  • Your product or service will be marketed and sold successfully to generate revenues that will, in time, cover costs and provide an attractive return to investors.
  • Your firm has an advantage over competitors.
  • The new business is both viable and sustainable.
  • There is a convincing plan for meeting any operational challenges.
  • Management has appropriate industry experience and/or a strong track record with start-ups.
  • You have anticipated most probable contingencies.
  • The plan works as both a planning tool and a selling tool, ie., that the plan is at once thorough and convincing to investors.
  • The plan is professionally presented, both in writing and in person.
  • The team is able to present their case eloquently and answer questions effectively during the final rounds.

Remember

  • Fifteen page maximum for Business Plans , plus 1-2 pages of supporting tables, charts (if applicable)
  • Typed, single-spaced, 12pt Times/Arial font
  • References to primary and secondary sources must be documented
  • No deadline extensions
  • Fifteen-minute presentation, plus Q&A, for finalists
  • Submit via email and hard copy

For questions or further information, please contact:

Innovation & Entrepreneurship Institute
201 Speakman Hall
Fox School of Business
215-204-3082
iei@temple.edu