Ti e quest business plan competition

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TieQuest is th Business Venture Competition organized by TIE BHUBANESWAR, INDIA.
Last Date: 15th November 2011
Rewards: Cash Prize + Venture Capital Investment + 1 Year Free Membership of TIE + Mentoring + Network Access + Many More.
For PARTICIPATION Drop Mail to Swosti Mishra( mishra.swosti@gmail.com)
or
Shiv (shiv@vgyan.com )

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  • TieQuest is th Business Venture Competition organized by TIE BHUBANESWAR, INDIA.
    Last Date: 15th November 2011
    Rewards: Cash Prize + Venture Capital Investment + 1 Year Free Membership of TIE + Mentoring + Network Access + Many More.
    For PARTICIPATION Drop Mail to Swosti Mishra( mishra.swosti@gmail.com)
    or
    Shiv (shiv@vgyan.com )
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Be the first to like this

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Ti e quest business plan competition

  1. 1. 1-What is TIEQuest?<br />It is a business plan competition for potential entrepreneurs wherein the plans are evaluated, filtered and refined through a number of stages by providing guidance and handholding support by way of mentoring and, finally incentivizing and facilitating financial support to the selected proposals leading to successful business ventures.<br />2- Why TiE Bhubaneswar chapter should organize TiEQuest?<br /><ul><li>TiEQuest has been successfully implemented by different chapters in India and outside India benefiting a large number of local Entrepreneurs.
  2. 2. It gives a platform for the successful entrepreneurs for mentoring new and upcoming ones
  3. 3. Promotes entrepreneurial culture the society
  4. 4. It is a medium for channelizing various policy incentives by the Govt., Govt. Agencies (IPICOL, OCAC, OTDC etc.) and Financial Institutions (SIDBI, NABARD etc.).
  5. 5. It will enhance the “Ease of Doing Business Index” of the State in general and Bhubaneswar in particular</li></ul>3- Stakeholders<br /><ul><li>TiE Members
  6. 6. Sponsors (prize money and in kind services)
  7. 7. Judges
  8. 8. Participants
  9. 9. Entrepreneurship development agencies </li></ul>4- Participants (Open for all)<br /><ul><li>New Entrants/Startups
  10. 10. Engineering Students/Medical Students
  11. 11. Management Students
  12. 12. Simple Graduates.
  13. 13. TiE Directors/Officers or Competition organizers or Judge and their relations are not entitled to participate. </li></ul>5- Time Frame<br /><ul><li>Launch Event 3rd week of September
  14. 14. Intention to participate with entry fee By Oct. End.
  15. 15. Project Profile By Nov. End.
  16. 16. Mentoring workshop Last week of Dec.
  17. 17. Elevator Pitch 3rd week of Jan.2012
  18. 18. Written Business Plan 2nd week of Feb.
  19. 19. Presentation-semi-final 4th week of Feb.
  20. 20. Presentation – Final 2nd week of March</li></ul>6- Implementation Plan<br /><ul><li>Launch Event and Info Sessions </li></ul>The Launch Event is an introduction to TiEQuest. The Launch of the event will be widely publicized through:<br /><ul><li>Press Meets
  21. 21. Panel Discussion on local TV channels
  22. 22. Posters & Pamphlets
  23. 23. TiEQuest Website with Links on home page of various identified websites.</li></ul>Following the launch event, a number of information sessions will be organized at university campuses, Colleges (Management, Engineering, Medical etc.), District Industries Centre, Banks, Industry associations (CII-Orissa Chapter, OSIA, Utkal Chamber of Commerce, ITAO, Confederation of IT Enterprises etc.(CITE) and Industrial Promotion Bodies.<br />Entry Criterion<br />TiEQuest contestants must meet the following qualifications: <br />• The competition is open to all types of entities (corporation, partnership, proprietorship, etc.)<br />• Contesting entrepreneurs may not be members of more than one entity entering the competition; each entity may only make one submission <br />• Submission must be the entrepreneur’s original idea - proof of origination should be available <br />• The business idea may be new or already implemented. <br />• The contestants must have developed the business venture themselves and be serious about seeing the business venture through to reality (hence, entry fee is levied) <br />• It is strongly recommended that each team select one or more Mentors to guide them in developing a quality business venture. We expect mentors to hold at least three feedback sessions with each contesting entity. <br />The following will qualify as a mentor: <br /><ul><li>A faculty member at University/Institute/Center of Learning
  24. 24. A professional in the industry where business venture is focused
  25. 25. A practitioner/manager of an entrepreneurial assistance program
  26. 26. Upon request from participants, TiE Chapter to provide service of one of its Charter Members, who have agreed to volunteer their time for this. Any request for this must be submitted to TiE Bhubaneswar Chapter. A biography of these members to be made available online at the web site prepared for the purpose. </li></ul>2. Intention to Participate <br />Intention to participate in TiEQuest is submitted by post/person. All submissions should be accompanied by the entry fee of Rs.2000/- (Rupees Two thousand only) per team or per individual by check/D.D/Cash in favor of the Chapter (TiE Bhubaneswar). The entry fee entitles the contestant (only one) to one year membership. Existing TiE members don’t pay the fee. The contestants are added to the TiE Chapter mailing lists and receive all Chapter events and mentoring information. The Chapter reserves the right to limit competition to first 200-250 applicants. It is advisable to complete all formalities as early as possible. The contestants receive User ID and passwords to access contestants’ portion of the website. All submissions and communications are done through electronic means as much as possible. <br />Any contestant with specific concern relating to confidentiality of their venture will be provided an opportunity to discuss the matter with a legal advisor. Contestants should request this to the concerned Chapter Coordinator of TiEQuest, after submission of the Entry Form and payment of entry fee. After discussion with a legal counsel, contestants may withdraw their entry within two business days without penalty and full refund of their entry fee (if they do not wish to be members). Contestants submit the names of all their participating entrepreneurs and also that of their advisor. All team members and advisors to sign Entry Form. <br />Usually, all contestants can expect email confirmation of Entry acceptance by early Nov.<br />3. Project Profile <br />Contestants will submit a project profile outlining their business venture as per the format posted on TiEQuest website. The project profile to be submitted electronically and should very briefly cover: <br /><ul><li>Company profile: URL, Industry, employees, year founded
  27. 27. Contact information
  28. 28. Background of entrepreneurs, management team and advisors
  29. 29. Brief Financial information: revenue run rate, previous capital, monthly burn, pre-money valuation, and capital sought
  30. 30. Business Summary
  31. 31. Customer problem addressed
  32. 32. Product/service offered
  33. 33. Target market size and characteristics
  34. 34. Customers and selling strategy
  35. 35. Business model
  36. 36. Competitors and Competitive advantage
  37. 37. Top and bottom line projections</li></ul>All successful contestants receive email confirmation for proceeding to next stage by around mid of December.<br />4. Mentoring Workshop (Last Week of December) <br />All successful contestants will be invited to a mentoring workshop and the purpose of this workshop is to guide the contestants to improve on their venture. Many Judges of the competition will be participating in the workshop. <br />5. Elevator Pitch <br />Contestants will prepare an Elevator Pitch relating to their business venture. They will have an option to present the Elevator Pitch in person or electronically. In case of an electronic submission, the contestants will upload relevant video file. <br /><ul><li>Maximum time for the Elevator Pitch will be 240 seconds (4 minutes)
  38. 38. Contestants may use product samples, pictures or other visual or video aids for the support
  39. 39. The pitch should be directed to convince investors to read the detailed business plan. It should address the value proposition of the business. </li></ul>All successful contestants receive email confirmation for proceeding to next stage by 1st week of Feb. 2012<br />6. Written Business Plan <br />The contestants will upload .doc or .pdf formats of the written business plan on the TiEQuest Website or a separately dedicated section in the Chapter site. The plans may be 30-50 pages long and should cover: <br /><ul><li>Cover Page detailing: Name of the venture and name of participating entrepreneurs and advisor
  40. 40. Executive Summary
  41. 41. Visual aids: Pictures, charts, graphs. Do not include any physical samples.
  42. 42. Value Proposition
  43. 43. Industry background: What is the industry like? How old? How fast is it growing?
  44. 44. Business model: What is the business? How does it work? How does it make money?
  45. 45. Customer characteristics: Who are they? What are they like? Why would they choose you? Why would you choose them?
  46. 46. Supplier characteristics: Who are they? What are they like? Why would they choose you? Why would you choose them?
  47. 47. Competitor characteristics: Who are they? What are they like? At what level are they funded? What advantage do you offer?
  48. 48. Threats: What are the biggest threats to your business venture? New competitors? New technologies? Price wars? How does your venture address them?
  49. 49. Funding: How much do you need? What would you do with the money? When would you need more? First year profit-and-loss projections by month, Five year profit-and-loss projections by year, breakeven analysis, payback, IRR, NPV
  50. 50. Profit Potential: When will the shareholders make a return on their investment? How much?
  51. 51. Risk Factors in the proposed venture
  52. 52. Profiles of key management members, specific roles, how strengths of team members match these roles, positions yet to be filled </li></ul>All contestants will receive comments from the judges on their business plan by 3rd week of February and are expected to address these in presentation to the judges. <br />7. Presentations – Semi-Final <br />Contestants will make a 20-25 minutes private presentation to a panel of three or more judges. The judges will have already read the written business plan submitted. The focus of the presentation will be to pitch their idea to convince judges to invest in their venture. The presentation will be followed by 15-20 minutes of a question and answer session. The objective of this round will be to reduce the pool of contestants to a smaller number. <br />All contestants will receive a confirmation (by email) if they are successful in proceeding to the next stage of the competition by 1st week of March.<br />8. Presentations - Final <br />The finalists will make another 20-25 minutes private presentation to a panel of judges. The It is expected that this presentation will answer issues raised in Round 1 presentation and be followed by 15-20 minutes Q&A. <br />Winners and other proposals adjudged well will be offered possible Incubator facility (depending on availability of incubation facility for the specific proposal) by Organisations including TiE members who have created such facility in Bhubaneswar and other parts of the State.<br />The Winners will be announced during the TiEQuest Awards Dinner usually scheduled during April 2012.<br />7- Incubator Facility.<br />Winners and other proposals adjudged well will be offered possible Incubator facility (depending on availability of incubation facility for the specific proposal) by Organisations including TiE members who have created such facility in Bhubaneswar and other parts of the State. However, the terms of incubation will be discussed and negotiated independently between the Service provider and the promoters of the selected proposals.<br />8- Prize and in Kind Benefits.<br /><ul><li>1st
  53. 53. 2nd
  54. 54. 3rd
  55. 55. Best student team </li></ul>In Kind Services by TiE members and/or Sponsors<br /><ul><li>Business advisory services
  56. 56. Legal Services
  57. 57. Patent Advisory services
  58. 58. Market Intelligence services.
  59. 59. The Prize will be decided depending upon the quality of Business Proposal TiE Bhubaneswar receives.

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