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Business Plan Competition 

Adelphi students of any major can apply for this business plan competition.

Organized by the Willumstad School of Business

The 2018-19 Business Plan Competition is now open. You are invited to enter the competition. Please read the following paragraphs. It tells you everything you need to know.

Who Can Participate 

All students of Adelphi University, in any major or program of study, who are enrolled in the 2018-19 academic year may participate.

  • Students can participate as a member of a team (up to five members) or as individuals. Cross-disciplinary teams are strongly encouraged.
  • A team or an individual can submit only one business plan. An individual cannot be a member of more than one team.
  • The business plan must be developed during the student’s time at the university.
  • Participants, whether teams or individuals, can have advisers and coaches. These advisers can be faculty members, business executives, entrepreneurs or family members. This is not a requirement. However, it is the students who must present their business plan and participate in the competition.
  • Only students are eligible to earn prize money. No payments will be made to non-students.

How to Participate 

Teams or individual participants must electronically submit a completed Intent to Compete Form. This form includes the names and student ID number of the participants, as well as their contact information and the Preliminary Bussiness Proposal. 

Participants to the competition agree to the following stipulations:

  • The proposal represents the original work of the student(s).
  • They will abide by the rules of the competition.
  • They are responsible for all copyright, trademark and patent issues.
  • Should the proposal be accepted, the student(s) will develop a Full-Fledged Business Plan. The student(s) will participate in all the activities of the competition.
  • The decision of the Dean, Willumstad School of Business, will be final and binding, in case of any disagreements.

» Complete the Intent to Compete Form


Features of the Business Idea

The Preliminary Business Proposal submitted through the Intent to Complete Form must meet the following criteria:

  • The business idea is for new, innovative ventures
  • The proposed business must be projected to be financially viable and lawful
  • It is an independent business (e.g., not a franchise or not an expansion of an existing business)

What goes into the Preliminary Business Proposal?

The Preliminary Business Proposal should not exceed 2,000 words.  It should have the following sections:

  • An executive summary
  • Name and nature of the proposed business
  • Capabilities and experiences of the student(s) to carry out the business plan
  • Assessment of the need for the proposed product/service in the market place
  • A review of existing and potential competitors
  • How will the product/service be created, distributed, and sold
  • Any legal issues
  • Sources of finance, projection of revenues and profits, and attraction to potential investors

Two business plan writing workshops will be held by Dr. Murat Erogul on Wednesday, September 12, 2018: one from 11:00 a.m.–1:00 p.m. and one from 6:15 p.m.–8:15 p.m. They are designed to clarify rules of the competition, how to generate ideas, and preparing the preliminary proposal. Students would benefit from attending this workshop. Students need only attend one of the workshops.


What Happens Next

The Preliminary Business Proposal will be reviewed by a team of faculty, staff, and practitioners for completeness, innovativeness, and financial viability. Those that meet these standards will be selected for development of a Full-fledged Business Plan.

A workshop will be organized to provide guidance and tips on how to write a complete business plan.

The Full-Fledged Business Plan will be presented by the student(s) to a panel of judges – entrepreneurs, professionals, and business executives.  In addition, students will display their product/service and make an elevator pitch (2 minutes) to the judges.


Prizes 

A total of $11,000 in cash prizes will be awarded – a first prize of $5,000, second prize of $3,000 and third prize of $2,000. The display/elevator pitch prize is $1,000.


Very Important Dates

Thursday, November 8, 2018 – Preliminary Business Proposal is due (Intent to Compete Form is submitted)

Monday, November 19, 2018 – Student(s) are informed that their Preliminary Business Proposal has been selected for development into a Full-Fledged Business Plan.

Monday, April 8, 2019 – Full-Fledged Business Plan is due. The plan will be sent to the judges.

Wednesday, April 17, 2019 – Business Plan Competition Day (Adelphi University Research Day); student(s) must be in attendance to present their plan, showcase their proposed product/service, and make the “pitch”.


For more information, please contact:

Murat Erogul
Assistant Professor 
Robert B. Willumstad School of Business 
e- merogul@adelphi.edu

 
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