The 3rd Annual Fowler Business Concept ChallengeOctober 21, 2011<br />Introductory Seminar<br />Rules and Instructions  fo...
2<br />So what should you expect from the teams? <br />They should have a solid understanding of the benefits of their pro...
Final Submission/Presentation<br />Semi-Finalists will be required to prepare and electronically submit a 12-15 minute MS ...
Judging Criteria – Semi-Final & Finals<br />Business Idea (67%)<br />Originality (business idea is new, novel, unique)<br ...
The Finals<br />The teams selected as finalists in each division will present their ideas in groups in the morning round t...
A winning submission should address the following questions:<br />What is your product or service? <br />How will you’re b...
A winning submission should address the following questions:<br />Why do they need to buy what your business will sell?<br...
The Prizes<br />Undergraduate Division<br />1st  $10,000 Scholarship per team <br />2nd $ 5,000 Scholarship per team <br /...
The Schedule<br />9<br />
Some Thoughts on Winning Business Ideas<br />The ‘Best Business Idea’ wins not the ‘Best or Coolest’ Technology<br />The W...
Some Thoughts on Winning Business Ideas<br />Winning teams will be able to demonstrate the potential for ‘sustainable’ com...
Some Thoughts on Winning Presentation<br />White space is your friend – don’t clutter the slides<br />No tiny fonts in cro...
13<br />Current Standard<br />Our Alternative<br />
8 slides you should have<br />	1. Title slide<br />	2. Description of product/service<br />		3. Clear Unique Value Proposi...
8 slides you should have<br />5. Competitive analysis - A table that compares features and benefits of direct, as well as ...
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  1. 1. The 3rd Annual Fowler Business Concept ChallengeOctober 21, 2011<br />Introductory Seminar<br />Rules and Instructions for Competitors<br />
  2. 2. 2<br />So what should you expect from the teams? <br />They should have a solid understanding of the benefits of their product or service and their value proposition. <br />They should have a defensible estimate of the potential market and the business’ potential revenues. <br />They should have a revenue model for their business. <br />They should have a good grasp of the existing competition and a solid explanation of where their competitive advantage lies. <br />They should be able to explain why the idea is feasible <br />How they would begin to execute the idea with some mentoring and assistance.<br />Social ventures should be able to explain <br />the value proposition to their customers/clients, <br />the societal benefit created by their business <br />how they will be able to create a financially viable organization. <br /> - From the Letter to the Judges<br />
  3. 3. Final Submission/Presentation<br />Semi-Finalists will be required to prepare and electronically submit a 12-15 minute MS PowerPoint presentation (maximum 20 slides) detailing their business idea and addressing the key points outlined above. <br />Semi-Finalists will use the MS PowerPoint slide deck to present their business ideas to a panel of judges. Each team will be allowed 15 minutes for presentation and 5 minutes for questions and responses. <br />3<br />Overview of the Fowler Business Concept Challenge<br />
  4. 4. Judging Criteria – Semi-Final & Finals<br />Business Idea (67%)<br />Originality (business idea is new, novel, unique)<br />Clear and compelling value proposition (legitimate, recognized need; appropriate solution)<br />Competitive advantage (creates more value for customer than alternative solutions)<br />Market opportunity (adequate market size; viable business model)<br />Feasibility (reasonable prospect of funding and successful implementation)<br />Presentation (33%)<br />Presentation materials (clear, comprehensive, logical flow)<br />Delivery (clear, compelling, persuasive)<br />Q&A (answered judges questions directly, clearly, effectively)<br />Time management (effective use of allotted time) <br />4<br />Overview of the Fowler Business Concept Challenge<br />
  5. 5. The Finals<br />The teams selected as finalists in each division will present their ideas in groups in the morning round to a panel of judges. <br />The judges will select the top team from each group to move on to the final round <br />The winners will be selected from the four finalists in each division by a new panel of judges. <br />The panel of judges will also select the winners of the and ‘Best Individual Presentation’ from among all of the finalists<br />5<br />Overview of the Fowler Business Concept Challenge<br />
  6. 6. A winning submission should address the following questions:<br />What is your product or service? <br />How will you’re business generate revenues?<br />What will your businesses’ revenues be after the first, third and fifth years of operation?<br />What is your specific target market and how do you plan to address it? <br />Who are your customers? <br />What do they do? <br />How old are they? <br />Where do they live?<br />Other important characteristics <br />6<br />Overview of the Fowler Business Concept Challenge<br />
  7. 7. A winning submission should address the following questions:<br />Why do they need to buy what your business will sell?<br />How big is your target market <br /># of potential customers<br />$'s spent on comparable products<br />How many of these customers will you reach during first, third and fifth years of operation?<br />Every business has competition. Who are yours and what sustainable advantages will your business have over them? <br />Briefly highlight relevant experience of management team.<br />7<br />Overview of the Fowler Business Concept Challenge<br />
  8. 8. The Prizes<br />Undergraduate Division<br />1st $10,000 Scholarship per team <br />2nd $ 5,000 Scholarship per team <br />3rd $ 2,500 Scholarship per team <br />4th $ 1,000 Scholarship per team<br />Best Individual Presenter - $1,000 Scholarship<br />Graduate Division<br />1st $10,000 Scholarship per team <br />2nd $ 5,000 Scholarship per team <br />3rd $ 2,500 Scholarship per team <br />4th $ 1,000 Scholarship per team<br />Best Individual Presenter - $1,000 Scholarship<br />8<br />
  9. 9. The Schedule<br />9<br />
  10. 10. Some Thoughts on Winning Business Ideas<br />The ‘Best Business Idea’ wins not the ‘Best or Coolest’ Technology<br />The Winning teams will be able to succinctly explain how their product creates ‘significant’ value for their customers<br />Filling ‘needs’ and solving ‘problems’ win<br />Winning teams will be able to document the existence of a market for their product/service<br />10<br />
  11. 11. Some Thoughts on Winning Business Ideas<br />Winning teams will be able to demonstrate the potential for ‘sustainable’ competitive advantage<br />Winning teams will have an idea of how they are actually going to generate revenues<br />Winning teams will be able to estimate how much revenue they will generate<br />Winning teams will have feasible ideas – no Mars’ missions<br />11<br />
  12. 12. Some Thoughts on Winning Presentation<br />White space is your friend – don’t clutter the slides<br />No tiny fonts in crowded tables<br />A good picture is worth a thousand words<br />Practice<br />The flow should be logical <br />Don’t look or sound rushed – slow down<br />One speaker and only one speaker should always be the focus<br />Passion, enthusiasm and competence sell ideas<br />12<br />
  13. 13. 13<br />Current Standard<br />Our Alternative<br />
  14. 14. 8 slides you should have<br /> 1. Title slide<br /> 2. Description of product/service<br /> 3. Clear Unique Value Proposition Statement  - What problem is being solved, need met and for whom?<br />4. Target Market conditions (some or all of below)<br />Who is the market – describe them, create image in the mind of audience<br />How big? <br />Existing offerings? <br />What are they currently buying?<br />14<br />
  15. 15. 8 slides you should have<br />5. Competitive analysis - A table that compares features and benefits of direct, as well as discussion of indirect;<br /> 6. Revenue model and analysis<br /> 7. Funding Needs and Uses<br /> 8. Team skill sets - what they have and what they need;<br />15<br />

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