The document provides instructions for competitors in the 3rd Annual Fowler Business Concept Challenge. It outlines what should be included in business concept submissions and presentations. Competitors should demonstrate an understanding of their product/service benefits and value proposition, market potential and size, competition, feasibility, and execution strategy. Social ventures must also explain their societal benefit and financial viability. Winning submissions will address questions about the business idea, target market, competition, management experience, and projected revenues and market reach in years 1, 3, and 5. The top teams will receive prize scholarships.

1. The 3rd Annual Fowler Business Concept ChallengeOctober 21, 2011Introductory SeminarRules and Instructions for Competitors

2. 2So what should you expect from the teams? They should have a solid understanding of the benefits of their product or service and their value proposition. They should have a defensible estimate of the potential market and the business’ potential revenues. They should have a revenue model for their business. They should have a good grasp of the existing competition and a solid explanation of where their competitive advantage lies. They should be able to explain why the idea is feasible How they would begin to execute the idea with some mentoring and assistance.Social ventures should be able to explain the value proposition to their customers/clients, the societal benefit created by their business how they will be able to create a financially viable organization. - From the Letter to the Judges

3. Final Submission/PresentationSemi-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. 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. 3Overview of the Fowler Business Concept Challenge

4. Judging Criteria – Semi-Final & FinalsBusiness Idea (67%)Originality (business idea is new, novel, unique)Clear and compelling value proposition (legitimate, recognized need; appropriate solution)Competitive advantage (creates more value for customer than alternative solutions)Market opportunity (adequate market size; viable business model)Feasibility (reasonable prospect of funding and successful implementation)Presentation (33%)Presentation materials (clear, comprehensive, logical flow)Delivery (clear, compelling, persuasive)Q&A (answered judges questions directly, clearly, effectively)Time management (effective use of allotted time) 4Overview of the Fowler Business Concept Challenge

5. The FinalsThe teams selected as finalists in each division will present their ideas in groups in the morning round to a panel of judges. The judges will select the top team from each group to move on to the final round The winners will be selected from the four finalists in each division by a new panel of judges. The panel of judges will also select the winners of the and ‘Best Individual Presentation’ from among all of the finalists5Overview of the Fowler Business Concept Challenge

6. A winning submission should address the following questions:What is your product or service? How will you’re business generate revenues?What will your businesses’ revenues be after the first, third and fifth years of operation?What is your specific target market and how do you plan to address it? Who are your customers? What do they do? How old are they? Where do they live?Other important characteristics 6Overview of the Fowler Business Concept Challenge

7. A winning submission should address the following questions:Why do they need to buy what your business will sell?How big is your target market # of potential customers$'s spent on comparable productsHow many of these customers will you reach during first, third and fifth years of operation?Every business has competition. Who are yours and what sustainable advantages will your business have over them? Briefly highlight relevant experience of management team.7Overview of the Fowler Business Concept Challenge

8. The PrizesUndergraduate Division1st $10,000 Scholarship per team 2nd $ 5,000 Scholarship per team 3rd $ 2,500 Scholarship per team 4th $ 1,000 Scholarship per teamBest Individual Presenter - $1,000 ScholarshipGraduate Division1st $10,000 Scholarship per team 2nd $ 5,000 Scholarship per team 3rd $ 2,500 Scholarship per team 4th $ 1,000 Scholarship per teamBest Individual Presenter - $1,000 Scholarship8

9. The Schedule9

10. Some Thoughts on Winning Business IdeasThe ‘Best Business Idea’ wins not the ‘Best or Coolest’ TechnologyThe Winning teams will be able to succinctly explain how their product creates ‘significant’ value for their customersFilling ‘needs’ and solving ‘problems’ winWinning teams will be able to document the existence of a market for their product/service10

11. Some Thoughts on Winning Business IdeasWinning teams will be able to demonstrate the potential for ‘sustainable’ competitive advantageWinning teams will have an idea of how they are actually going to generate revenuesWinning teams will be able to estimate how much revenue they will generateWinning teams will have feasible ideas – no Mars’ missions11

12. Some Thoughts on Winning PresentationWhite space is your friend – don’t clutter the slidesNo tiny fonts in crowded tablesA good picture is worth a thousand wordsPracticeThe flow should be logical Don’t look or sound rushed – slow downOne speaker and only one speaker should always be the focusPassion, enthusiasm and competence sell ideas12

13. 13Current StandardOur Alternative

14. 8 slides you should have 1. Title slide 2. Description of product/service 3. Clear Unique Value Proposition Statement - What problem is being solved, need met and for whom?4. Target Market conditions (some or all of below)Who is the market – describe them, create image in the mind of audienceHow big? Existing offerings? What are they currently buying?14

15. 8 slides you should have5. Competitive analysis - A table that compares features and benefits of direct, as well as discussion of indirect; 6. Revenue model and analysis 7. Funding Needs and Uses 8. Team skill sets - what they have and what they need;15