ENTREPRENEURSHIP*
Refers to owning, organizing, and managing your own business by providing a necessary product or ser
ENTREPRENEURSHIP
Refers to owning, organizing, and managing your own business by providing a necessary product or service.
REQUIREMENTS:
1. The contestant is required to make a verbal and visual presentation, not to exceed five (5) minutes, explaining their business plan. Product demonstrations are not required but can be offered at the requests of the judges. Demonstrations should not exceed a second set of five (5) minutes, inclusive of questions and answers.
2. A visual presentation in the form of a Canva/Keynote/PowerPoint presentation, or physical display.
3. Familiarity with their business/brand’s industry and general business terms related to their product/service. General business understanding including, but not limited to marketing, product development process, financials, target market, etc. are required.
4. One, typed 8-1⁄2-inch by 11-inch double spaced business plan must accompany the entry. The business plan, which should be a minimum of ten (10) pages and not to exceed twenty (20) pages, should include a cover page, executive summary, company description, marketing plan, management plan and a financial plan, in addition to any supporting documents (i.e. graphs, photographs, statistical data).
5. The student’s name, page number and branch must be at the top of each page. The plan must be submitted on or before the specified deadline for judges’ pre competition.
6. Contestants are required to have personally written the business plan and have been involved with the production of any prototype product or service trials.
7. One point will be deducted from the contestants overall score for each second over the presentation and/or demonstration time.
8. Contestants must submit three (3) copies of their business plan.
Contestants will be judged by the following criteria:
• Written Business Plan
o Marketing Plan (including where you plan to market/promote your product/service, content creation strategy, campaign ideas, advertising plans (15 pts.)
o Management Plan/Personnel Profiles (10 pts.)
o Financial Plan (including cash profit & loss statement, budget, financial projects for the next 2 years) (15 pts.)
o Market, Research, & Analysis (including target customer/audience, industry research/data, product/service research/data) (10 pts.)
o Government Requirements (5 pts.)
o Product/Service Knowledge (including pricing, product functionality/service description) (10 pts.)
o Customer Service Plan (including how you will handle returns, customer complaints, and general customer outreach) (5 pts.)
o Creativity/Originality (5 pts.)
• Oral Presentation
o Comfort Level of Product/Service Knowledge (10 pts.)
o Social Responsibility/Contribution to the Community (5)
o Presentation Style (5 pts.)
• Visual Presentation (5)
