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Competitions

Deadline: Not offered in 2007-2008

Registration: N/A

 

The Feasibility Study Competition is the second stage of the Temple University Business Innovation Competition. It is open to students, faculty, staff and alumni of Temple University. Participants may be individuals or teams.  Teams may include members without ties to Temple, provided that the person with the Temple Affiliation is the business founder/lead executive/chief shareholder.. Participation in the Idea Competition is suggested but not required.  Please see additional Eligibility Requirements on our Competitions home page.


The purpose of the new venture feasibility study is to identify the most promising business opportunities. Winning feasibility studies will prove that the business idea is workable. To enter, describe in no more than 5-6 pages:

  • The market opportunity
  • The product or service or business you propose to meet that opportunity
  • The strategic position your firm will fill
  • How your firm will operate
  • The way your firm will generate revenues and profits
  • The qualifications of your business team
  • The main risks your firm may face and how you plan to mitigate against them

Judging
Submissions will be judged by a panel of experienced entrepreneurs, consultants, investors, and senior executives. All judges are held to the strictest standards of confidentiality.

 

Awards
Feasibility Plan Competition winners are eligible for cash prizes and use of the Innovation Lab to prepare for the third and final stage of the annual Business Innovation Competition.

 

Guidelines
Winning studys will convince the judges that your idea could work. Judges will consider whether:

  • There is a market demand - a group of buyers willing and able to pay the expected price - for your product or service
  • The product or service fits well within the industry and geographic market you describe
  • Your product or service will generate revenue that, in time, will cover costs and provide an attractive return to investors
  • Your firm has a competitive advantage and long-term viability
  • There is a qualified management team
  • There is a convincing study for meeting any major operational challenges, such as market entry, financing, intellectual property  protection, etc.

Tips
Use the Feasibility Study Outline as checklist. (But remember, no two studies are ever alike in content, emphasis or style.)

  • Keep the length to no more than six pages.
  • Make the study compelling. Feasibility studies must convince readers that the idea could work.
  • Make your case clear and to the point. Consider using numbers, diagrams, models or pictures to help condense your argument - without sacrificing detail (must be included in the page limit).
  • Support claims with evidence.
  • Use credible sources and methods - and document all quotes, estimates, etc. Support all numbers with documented sources.

Remember

  • Six page maximum.
  • Typed, single-spaced, 12pt Times/Arial font
  • No deadline extensions.
  • Registration & Submission Online

For questions or further information, please contact:

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