The document discusses the All-island Seedcorn Business Competition 2009. It provides information on previous winners, eligibility criteria, categories, prize money, and the process for entering the competition. Key dates are outlined, including the deadline to submit business plans, regional final dates, and the overall final. Common mistakes to avoid in business plans are also highlighted, such as being too long, using outdated examples, or lacking realism in the financial projections.

1. All-island Seedcorn Business Competition 2009 Ramada Hotel, Belfast, 19 August 2009 Gráinne Lennon, InterTradeIreland www.seedcorncompetition.com

3. www.seedcorncompetition.com So is the competition all about the money? € 360,000!

4. www.seedcorncompetition.com “ The competition attempts to re-create the investment process and stimulate investment activity…. we need your business plan”

5. www.seedcorncompetition.com 2008 Overall Emerging International Company winners Mcor Technologies

6. www.seedcorncompetition.com 2008 Overall Emerging Company winners Media Light Box

7. www.seedcorncompetition.com Sectors – 2008 regional finalists Software Energy Munster Digital Media & Web 2.0 Software Munster Digital media & Web 2.0 Medical Devices Munster Digital media & Web 2.0 Food NI Manufacturing & Industrial ICT NI Digital media & Web 2.0 Software NI Medical Devices Entertainment C&L ICT Food C&L ICT Manufacturing and Industrial C&L Online Florist Consumables Dublin ICT Energy & Technology Dublin ICT Medical Devices Dublin Emerging International Region

8. www.seedcorncompetition.com

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13. www.seedcorncompetition.com New Prize fund - €360,000! € 360,000 Total prize fund € 10,000 Best University spin-out or platform programme € 150,000 6 Regional prizes (3 in each category) €25,000 each € 100,000 Best Emerging Company € 100,000 Best High Growth Company

14. www.seedcorncompetition.com Roadmap No. of Companies 2 8 8 24 173 328 26 November – Overall final 16/17 November – Master Classes Mid November – regional finals End October – top plans selected Submit business plan by 1pm 25 September Register for competition

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17. www.seedcorncompetition.com In the Investor’s Mind Is this the right team? What’s the entrepreneur’s motivation? Is this a billion dollar opportunity? Is it a game changer? How competitive is the space? How defensible is the product? How much is this thing going to take? How long to maximise value and exit?

22. Market Opportunity Who are the potential customers we are going to sell to? What defines customer segments? What needs does the idea satisfy? How do customers currently satisfy this need? How many customers are in this market? What is the projected growth in this market? What is the proposition for customers? Why is this approach innovative and compelling? What are the implications to the customers of buying from us? What do we need to do to confirm the size of this market? How fragmented is this market ? KEY QUESTIONS Marketing Plan Management Team Market Opportunity Industry & Competition Funding Key Risks Operations & Legal Product/ Service Proposition Financial Plan

23. Industry & Competition Which competitors are there in this market? What are your competitors market share and finance? Their strengths and weaknesses? Who else is working on these solutions? Why is your approach better than our competitors? What is your source of competitor advantage e.g. IP? Are distribution channels are available? How long can we stay ahead of the competition? How are competitors likely to respond? What will they do to prices? How much room is there in this market for competitors? What barriers will you face or can you create? KEY QUESTIONS Marketing Plan Management Team Market Opportunity Industry & Competition Funding Key Risks Operations & Legal Product/ Service Proposition Financial Plan

24. Product/ Service Proposition Why is this the right proposition? How is it different from existing products/services? Will it become obsolete and how it may change? Why is now the right time? Why is it unique and what is the USP? Is the business protected to have a ‘virtual monopoly’? What stage is the product in development e.g. trails? What regulatory and technology proving is needed? How will this solution take advantage of existing distribution channels? KEY QUESTIONS Marketing Plan Management Team Market Opportunity Industry & Competition Funding Key Risks Operations & Legal Product/ Service Proposition Financial Plan

25. How will you win the initial customers, pilots and sales? What is the business model e.g. B2C, B2B etc Which distribution channels will you use? Promotional strategy that will be used? Who will be the key customers? What is the approach to distribution and channels? What is your pricing and discount approach? How will you structure the sales team and process? Which markets could you address first to gain revenue? What is the current sales and order book? KEY QUESTIONS Marketing Plan & Route to Market Marketing Plan Management Team Market Opportunity Industry & Competition Funding Key Risks Operations & Legal Product/ Service Proposition Financial Plan

26. Management Team and Partners Is this the right executive and board team to deliver the venture? Can you show the experience and achievements to deliver the new business? How is the team motivated and working together? Does the team have the energy to make this venture happen? Can you outline the skill gaps and how they will be filled? Have the stakeholders been identified? What capabilities are required from partners? Have we identified the right partners? Key Questions Marketing Plan Management Team Market Opportunity Industry & Competition Funding Key Risks Operations & Legal Product/ Service Proposition Financial Plan

27. Operations & Legal Is the venture proposition based on proven technology? Will the proposed technology work? Is the technology and / or process protected by patents? Is there a reliable source of materials and critical inputs e.g. raw materials and skilled staff? Can you effectively produce and deliver the product or service? Can we maintain/repair and/or support the new business? Is the business liable to any litigation risks on use of technology or operational issues? KEY QUESTIONS Marketing Plan Management Team Market Opportunity Industry & Competition Funding Key Risks Operations & Legal Product/ Service Proposition Financial Plan

28. Are key risks understood? Has the risk of market adoption been recognised? What is the competitor reaction? Delay effect of getting regulatory approval? Are key market risks for this venture acceptable? Are the key technical risks for this venture acceptable? What constraints must be challenged to launch this venture? Are the risks and constraints reflected in the financial models? Key risks & Constraints KEY QUESTIONS Marketing Plan Management Team Market Opportunity Industry & Competition Funding Key Risks Operations & Legal Product/ Service Proposition Financial Plan

29. Financial Plan What is the financial history? Have the financial models used a range of assumptions? Are the revenues significant and are drivers understood? What are the one-off and ongoing operating costs? What are the one-off and ongoing capex costs? What are the key P&L numbers? What percentage of available funds will this require? Are pricing and margin projections realistic? What are the cash and finance projections? KEY QUESTIONS Marketing Plan Management Team Market Opportunity Industry & Competition Funding Key Risks Operations & Legal Product/ Service Proposition Financial Plan

30. Funding & Exit What is the requirement and approach to funding? Are the funds being looked for sufficient? Equity investment and loans that are currently utilised? Sources and approach to funding rounds over three years? What commitment is being made by management time to funding? What are the milestones and potential phasing of the release of funds? Who are the advisors to gain more information or make an offer? What is the potential exit route e.g. trade sale, IPO? KEY QUESTIONS Marketing Plan Management Team Market Opportunity Industry & Competition Funding Key Risks Operations & Legal Product/ Service Proposition Financial Plan

32. www.seedcorncompetition.com

34. www.seedcorncompetition.com Give your business lift off by entering the Seedcorn Competition! www.seedcorncompetition.com Thank you Any Questions?