We are a free resource to help with your plan and presentation before submission.
The best eight written plans will be selected to present at the University of Pikeville on December 2 to compete for the $10,000 in prize money. If your plan is chosen, you will be notified of acceptance by November 22nd.
The Appalachian New Business Competition is for new, independent proposed ventures in the conceptual, seed or start-up stages. The competition is open to anyone in Eastern Kentucky, whether an individual or a team of people. This competition seeks to encourage entrepreneurship in all of Eastern Kentucky and therefore generously defines Eastern Kentucky as all counties east of Interstate 75.
Generally excluded are the following: buy-outs, expansions of existing companies, real estate syndications, tax shelters, franchises, licensing agreements for distribution in a different geographical area and spin-outs from existing corporations. Plans which were presented in a previous Startup Challenge are not allowed to present again. Licensing technologies from universities or research labs is permitted and encouraged assuming the technologies have not been previously commercialized.
The Appalachian New Business Competition is a competitive entry event. This means we will accept an unlimited number of written business plan submissions until the deadline. Based upon established selection criteria, the best written plans (up to eight) will be chosen as finalists to present at the University of Pikeville on December 2 to compete for the $10,000 in prize money.
General Guidelines: Written business plans are limited to 10 pages of text (typed, double-spaced, 12 point font, and 1" margins on all sides), including the executive summary. The cover page and table of contents are not included in the 10 page limit. Detailed spreadsheets and appropriate appendices should follow the text portion of the plan but will be limited to 5 pages. Plans with fewer than 5 pages of appendices may not use the remaining pages to increase the size of their business plan beyond 10 pages. In total, the maximum number of pages is 17.
• Contents of the Written Business Plan: your business plan should include (max 17 pages)
» Executive Summary (2 page maximum)
» Opportunity (Problem you are addressing, compelling need to be solved)
» Product or service description (benefits, features, current status of development, etc.)
» Customer/Market analysis (market size and potential market share)
» Competitor Analysis (competitors and your competitive differentiation)
» Sales and Marketing Plan (how you will go-to-market)
» Operations (how will you acquire supplies, manufacture products, distribute products, etc.)
» Critical Risks (What could adversely affect this venture and how do you address it)
» Intellectual property status (e.g., patents, licenses, etc.)
» Management team and advisors, including relevant experience (find qualified people)
» Financial highlights (cash flow, income statement, & balance sheet)
» Offering of the company (how much investment you seek, uses of funding, possible exits)
Useful link for entrepreneurial resources and business plan structure:
• Business Plan Financial Data: Financial data should include a cash flow statement, income statement, and balance sheet. This data should be included in a summarized fashion in the main section of the business plan. Include an explanation of the offering to investors indicating how much money is required, how it will be used, the proposed structure of the deal, and possible exit strategies. Detailed financial data and tables should be included in the appendix.
• Appendices: should be included only when they support the findings, statements, and observations in the plan. Because of the number of teams in the competition, judges may not be able to read all the material in the appendices. Therefore, the text portion of the plan (10 pages) must contain all pertinent information in a clear and concise manner. All appendices must fall within the 5 page limit; any pages over this limit will not be posted or otherwise provided to the judges.
Presentations can be performed by an individual or a team of up to five people. It is acceptable for more than five people to be involved in the team/company, but only a maximum of five are allowed to present their plan at the competition. Presentations must include visuals, such as PowerPoint slides. Each individual or team will be given 10 minutes to present the business plan, followed by a 5-minute question/answer session between the presenting team and the judges. TIME LIMITS WILL BE STRICTLY ENFORCED.