BUSINESS PLAN COMPETITION CRITERIA & RULES
Do you have a business plan or startup venture that shows significant business potential for the burgeoning baby boomer market, which represents more than $2 trillion in spending power? We invite you to enter your business plan for the 2010 Silicon Valley Boomer Business Plan Competition. From early-stage ventures in medicine to media, fashion to financial services and beyond, the 2011 Boomer Business Plan Competition aims to generate the best ideas from the best universities and tap into the business expertise and creativity of entrepreneurs around the globe.
Based on the feedback received from some participants, we are announcing slight changes in the competition format and dates. We have consolidated Round 1 and Round 2 of the business-plan competition. For the combined round, we will accept up to a 20-page business-plan (page-count includes the executive summary and financials) until May 12, 5 PM PDT.
We would love to know the people behind these business-plans, so we would prefer (not required) if you could submit a short (up to 2 minutes) video. (You can email the video, or upload a You Tube clip).
Guidelines
You are welcome to submit a 2-minute video or a You Tube clip (turn the settings to private) which includes:
Entrepreneur name
University affiliation (if any)
Elevator pitch, including statement on why this product fits boomer market
A 20-page business plan, which includes the financials and executive summary. We will accept your entries till May 12 at 5 PDT. Please email your plans to svboomerventure@gmail.com.
This information pertains to the $10,000 Business Plan Competition. For information on the $1,000 App Competition, click here.
B-Plan Competition DeadlinesFirst Round
May 12, 5 PM – Full plans due to svboomerventure@gmail.com
May 25 – All finalists receive noticeFinal Round
June 15 – Finalists present business plans at Silicon Valley Boomer Venture Summit. Judges select and announce $10,000 winner.
Judging Criteria
All entries will be judged by panels of distinguished professionals from the venture capital, business, media and education communities, each of whom will have expertise in the various segments represented in each category.
Judges include United Health Group, AARP, Best Buy, Dell, GrandCare Systems, Caring.com, etc.
Competition Rules/Eligibility
The competition includes two rounds of judging. During the first round, judges review 15-20 page business plans that include executive summaries and financials; and during the final round, judges review entrepreneurs’ on-stage business plan presentations at the Summit.
First Round
Groups submit a complete 15-20 page business plan, which judges will review based on the following criteria:
MARKET OPPORTUNITY
Why is there a need for this company’s solution?
What is the market opportunity?
Are there any market issues that the plan did not acknowledge but that need to be addressed?
PROPOSED PRODUCT/SERVICES
What is the company’s solution?
Does the company have a defensible and proprietary approach to its business?
How can this company achieve a leadership position in the market?
How does the company plan on penetrating the market?
COMPETITION
What does the market look for?
Who would be the initial competitors and who would be likely competitors in the future?
What is the company’s unique competitive advantage?
What are the hurdles to entering the business?
BUSINESS MODEL
What is the business model? Is it operational or feasible?
Does the plan address the major relevant risks and appropriate mitigation plans?
Is the value proposition sound?
How much capital is required to break even?
How scalable is the business?
Is the business model financially viable?
Does the business model give back to a community or organization in some way?
MANAGEMENT/FOUNDERS
What is the background of management or proposed management for this type of company?
Is there industry expertise and prior success among the management/founding team?
Final Round
Judges split finalist entrepreneurs into two groups: grand prize finalists and mobile device application finalists. Both groups will present their boomer business ideas onstage at the Boomer Venture Summit. Grand prize finalists will give a five minute presentation with slides; mobile device application finalists will have two minutes to pitch their boomer business application idea or a live application. Judges will select a winner for each category and announce the winners at the end of the day. Finalists must be present on June 15, 2011 to be eligible to compete.
All federal, state and local taxes are the sole responsibility of winner. All federal, state and local laws and regulations apply. Winner must sign and return a notarized Affidavit of Eligibility certifying that the entry is his/her own original work and Release of Liability/Publicity within 10 days of first attempted notification. Noncompliance within this time period may result in disqualification and an alternate may be selected.
By entering contest and/or accepting prize, contestant grants permission to sponsors and their agencies to use winner’s names and/or likeness for advertising and/or trade purposes without further compensation to contestant unless prohibited by law. Prize is nontransferable. By accepting prize, winner agrees to hold sponsors, their respective directors, officers, employees, advertising and promotion agencies and assigns, harmless against any and all claims and liability arising out of use of prize. Winner assumes all liability for any injury or damage caused, or claimed to be caused, by participation in this promotion or use/redemption of any prize. Contestants agree to be bound by the Official Rules and the decisions of the judges. Sponsors are not responsible for any typographical or other error in the printing of the offer, administration of the search or in the announcement of the prizes.
Finalists in each category must be present on June 15, 2011.
Decisions of judges are final. Winner will be notified on June 15, 2011 at the 2011 Silicon Valley Boomer Venture Summit and Business Plan Competition. Grand Prize will be shipped within one month of winner notification and address verification.
Disclaimer
Sponsor is not responsible for lost, late, mutilated or illegible entries nor for electronic transmission errors resulting in omission, interruption, deletion, defect, delay in operations or transmission, theft or destruction or unauthorized access to or alterations of entry materials, or for technical, network, telephone equipment, electronic, computer, hardware or software malfunctions or limitations of any kind, or inaccurate transmissions of or failure to receive entry information by Sponsor or presenter on account of technical problems or traffic congestion on the Internet or at any website or any combination thereof. If for any reason the Internet portion of the program is not capable of running as planned, including infection by computer virus, bugs, tampering, unauthorized intervention, fraud, technical failures, or any other causes beyond the control of the sponsor which corrupt or affect the administration, security, fairness, integrity, or proper conduct of this contest, the Sponsor reserves the right at its sole discretion to disqualify any individual who tampers with the entry process and to cancel, terminate, modify or suspend the contest.
Intellectual Property Protection
Organizers and sponsors of the 2011 Silicon Valley Boomer Business Plan Competition have taken reasonable measures to ensure that all contestants retain their rights to their business plans and any intellectual property. Organizers and sponsors shall make no claim to any of the property or rights.
Additionally, the finalists in each category will present their business plans to attendees of the 2011 Silicon Valley Boomer Venture Summit and Business Plan Competition on June 15, 2011 at Santa Clara University, Santa Clara, California. The content of presentations is at the discretion of each contestant.
By entering this contest all contestants indemnify organizers and sponsors of the 2011 Silicon Valley Boomer Venture Summit and Business Plan Competition from any liability whatsoever arising out of this contest.
This contest is presented by: The Leavey School of Business at Santa Clara University, Santa Clara, California, and Mary Furlong & Associates, 3527 Mt. Diablo Boulevard, #128, Lafayette, California.
Entry Submitted by Laura Mitchell, VP Marketing of GrandCare Systems & Co-founding member & director of AgeTek Board
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Technologies that extend and enhance our ability to provide care for persons with chronic illness have been increasingly successful in improving the wellbeing and independence of older adults, the segment of the US population has the greatest demand for health and long term care services. These technologies offer a means for reducing the burden of chronic care for patients, families and the health care system as a whole while improving the older person’s safety, health & well-being and social connectedness.
