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Business Plan Competition

The Center for Entrepreneurship at High Point University held the Fourth Annual Business Plan Competition Thursday, April 24, 2014.  This year’s competition winners were awarded a total of $15,000.

The annual competition is open to all High Point University undergraduate students enrolled full time in the spring semester of the competition year, regardless of course of study, with a few caveats as noted in the Rules/Requirements below.

A panel of judges consisting of entrepreneurs, investors, and local business leaders evaluated each business plan and the corresponding presentations made by the chosen finalists.

The objective of the High Point University Business Plan Competition is fourfold:

  1. to promote the creation and development of new ventures at High Point University
  2. to provide University support and funding to the most innovative business ideas from undergraduate students
  3. to provide undergraduate student entrepreneurs with direct exposure to possible mentors and/or investors
  4. to provide students a forum outside the classroom where they can develop skills in “pitching” their business ideas to capital providers and entrepreneurs and to receive constructive feedback – increasing the probability of the success of their venture

Who:   HPU Undergraduate Students enrolled full time in the spring semester of the competition year – no more than three students per business team

What:  Up to $15,000 in cash prizes may be awarded. (There are no guarantees that all prize money will be awarded.)

When: Spring Semester of each year

How:   This is a six step process:

Step 1:  Complete the application. 

Step 2:  Announcement of finalists.

Step 3:  Complete and submit the full business plan with an executive summary.

Step 4:  Complete and submit the full PowerPoint presentation.

Step 5:  Present the full business plan.  Finalists present their business

plans to outside judges – 15-minute presentation with a 10-minute

question and answer session from the judges.

Step 6:  Judges rank the presentations and business plans based on

standard investment criteria and then determine the rank of the competitors.

 

Competition Schedule and Deadlines

The Business Plan Competition is now closed for this academic year.  The schedule for the 2014-15 competition will be posted in the spring.  The timeline for the 2013-14 competition is listed below and may be useful in planning for next year’s event.

Friday, March 14, 2014:  Competition Application Deadline

Applications will be reviewed by faculty and local entrepreneurs, and will be scored based on innovation, feasibility, and additional factors. The numeric scores from all evaluators will be tabulated and the finalists will be selected based on the highest average scores.

Friday, March 28, 2014:           Announcement of Finalists

Wednesday, April 16, 2014: *Finalists Deadline:  Full Business Plan, including Executive Summary

Monday, April 21, 2014:         Finalists Deadline:  Full PowerPoint presentation slides due

Thursday, April 24, 2014:       Business Plan Competition: 9:30 am to 11:00 am in Norton Hall 101

Finalists’ presentations to the panel of judges who will determine the top winners of the competition based upon the innovation and feasibility of the written business plan and presentation.

* NOTE: Two additional training sessions on how to write and present your business idea are usually held to assist students in preparing for this competition – dates to be determined.

 

General Rules & Eligibility Requirements

  1. All High Point University undergraduate students enrolled during the spring semester of the competition year are eligible to participate in that year’s competition. Individuals who are not students at HPU may be members of the management team and participate in planning the business, however only students may present the plan in the competition. If a company has been formed, the student or students must own at least 50 percent or more of the company and should hold the top position within the company.
  2. All authors who will be competing in the HPU Business Plan Competition must be currently enrolled and in good standing with High Point University and the community. Good standing is defined as having a minimum cumulative grade point average of 2.0 and a record of exemplary citizenship. All authors must agree to release a copy of their official academic transcript and disciplinary record to the Center for Entrepreneurship staff. The Center staff reserve the right to disqualify any author who does not meet the minimum grade requirement and/or is ineligible to be enrolled at HPU as a result of disciplinary action.
  3. Individual students or groups (maximum of three per business plan) are eligible to present their business plans.
  4. Students submitting a plan must commit to present their plan in the final competition on April 24, 2014.
  5. The plan must cover the entire business concept and implementation for a new venture in the seed, start-up or early growth stages, having not been in existence for more than 18 months. Generally excluded are the following: buy-outs, expansions of existing businesses, real estate syndicates, tax shelters, franchises, licensing agreements for distribution in a different geographic area, and spin-offs from existing corporations.
  6. Ventures/companies may only compete in the HPU Business Plan Competition once.
  7. All authors must agree that the business plan they submit is their original work. The author(s) will retain all rights to the plan regarding its use at all times prior to and following the competition.
  8. By participating in this competition, students agree to give the competition organizers and university the right to post the business plan on a password protected site in order for judges/reviewers to access the plan, post comments, and assign a numerical value to the plan. Judges, staff, and the audience related to the competition will not be required to sign non-disclosure documents. All public sessions of the competition are open to the public. Any information discussed in these sessions is considered information that will enter the public domain and entrants should not assume any right of confidentiality to any information presented in these sessions.
  9. Once submitted, no changes can be made to the executive summary, business plan, and presentation. All submissions must include the name and phone number of the key contact person(s) and copies of any documentation needed for investors. The information will be verified for accuracy. All deadlines stated in the schedules will be held – no exceptions will be made.
  10. Finalists are required to sign a waiver allowing the Center for Entrepreneurship the express right to videotape their final presentation. They will also be required to sign an audio-video release form allowing High Point University to use the business plan presentation within the University for faculty, staff, students, the Center for Entrepreneurship and to be part of the archives of High Point University.
  11. All students are expected to abide by these rules as well as the overall spirit of the competition. The Director of the Center for Entrepreneurship and the Dean of the Phillips School of Business reserve the right to disqualify any student or student team that violates the rules, regulations, or spirit of the competition.
  12. The winner(s) of the Competition will be the individual or student team whose plan and presentation conveys the most promising combination of:
  • business model clarity and viability
  • attractive investor possibilities
  • investor returns potential
  • realistic implementation and sustainability opportunities
  • product/service originality
  • market opportunity
  • team quality and competencies
  • financial feasibility
  • business plan and presentation quality and completeness

 

Judging Criteria

  • Clarity of Business Model
  • Idea/Product/Service – Novel/Unique
  • Financial Viability
  • Returns Potential for Investors
  • Market Opportunity/Size
  • Completeness of Plan and Attention to Detail

Writing, communication and presentation skills are key considerations for this competition.

Please follow these links to:

BizPlan Presentation Template
Business Plan Overview

For further information you may contact:

Lou Anne Flanders-Stec
Director of the Center for Entrepreneurship
336-841-9422
lflander@highpoint.edu

 

CONTACT THE OFFICE OF ADMISSIONS

The High Point Admissions Office is Located in Wrenn Hall.

Tours are available 7 days a week. Please contact us to schedule your visit.
(800) 345-6993
(336) 841-9216
(336) 888-6382 (fax)
admiss@highpoint.edu

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