Guidelines

Official Rules and Guidelines

 

The UC Santa Cruz Business Plan Competition is designed to stimulate entrepreneurial activity and greater awareness of the resources available at UCSC and within the Santa Cruz community to enable entrepreneurs. All winners will be selected on an objective basis as determined by the criteria set forth below. You must read and comply with these rules to enter the Business Plan Competition (the "Competition").

 

Who can enter the Competition?

The Competition is open to all participants who meet the following criteria: 
Student Enrollment: The competition is for UC Santa Cruz graduate or undergraduate students enrolled full-time, in good academic standing, or alumni who received BS, MS or PhD after June 1, 2008.

 

• The plan must be an original idea for a business.
• Company officers/members are 18 years or older at the time of entry.
• The business is not engaged primarily real estate, or the provision of health care or other professional services.
• The business must not have a net worth that exceeds $3 million.
• Company members cannot be directors, officers, or career employees of University of California Santa Cruz, University Economics Association, or Santa Cruz Redevelopment Agency.
• Consultants or freelancers who do business with any of the above or any immediate family members of any of the above are disqualified.

 

Mentorship/University Sponsorship:

The business plan may be prepared with faculty supervision or other mentorship.  The business plan may be prepared for credit in a regularly scheduled course or as an independent study.  The business plan must represent the original work of members of the team.

 

When can I enter?

A team is officially entered when they complete all relevant entry documents by 12:00 midnight PST, March 1, 2010.

 

How do I enter?

Complete entry documents and submit an executive summary by filling out the web form available on the Contest website. It will be submitted electronically according to instructions detailed at bizplancontest.soe.ucsc.edu

The Executive Summary should contain a cover page with the business name, primary contact name and complete contact information. Each team must submit a hard copy of the Publicity & Liability Release, executed by each team member, according to instructions located at http://bizplancontest.soe.ucsc.edu/team-registration-overview

The Competition Judge Panel (“judges”), as designated by the Competition Advisory Panel, will review all entries including executive summaries.  The judges will determine, at their discretion, the entrants qualified to proceed to subsequent rounds of the Competition.  Entrants will be notified via entrant primary contact and invited to submit additional materials according to the Competition timeline.

 

Semi-Final/Final Business Plan Submission Instructions:

Entrants selected for semi-final and final rounds of the Competition must complete the entry/publicity release form for each member of the team, with management team contact information, and a complete business plan (including the executive summary), submitted according to instructions located at http://bizplancontest.soe.ucsc.edu/team-registration-overview

 

The business plan should be no longer than 75 pages in total (including supporting documents). Your plan should contain: 
-Cover page with name of owner(s), company address, phone, fax, e-mail, website
-Table of Contents (optional)
-Executive Summary 
-Business section that includes but is not limited to: type of business, products/services/proprietary information, regulations, facilities, equipment, location, operational needs, and environmental factors.
-Management section that includes but is not limited to: ownership composition, management structure, managing personnel, key personnel, security, and consultants.
-Marketing section that includes but is not limited to: target markets, customer segments, competition, market entry, location, industry trends, method(s) of distribution, promotion, and pricing.
-Financial section that includes but is not limited to: three years of cash flows, income statements, and balance sheets; statement of owner(s)’ equity, and use of proceeds statement.
-Support documents section that includes but is not limited to: credit reference, corporate verification, personal -financial statement, resumes, licenses, and proprietary filings.
-Format of the document shall fit the following guidelines:
1. Font size between 10 and 12 point. Recommended fonts include Times New Roman, Arial, and Helvetica.
2. Margins no less than .75, not including header and footer.
3. All pages must be numbered after the cover page.
4. All pages must have either a header or footer stating the name of the business.

The judges may require verification of certain information during the review of the business plan. Only complete business plans will be considered (i.e. plans including the executive summary, business section, management section, marketing section, and financial section).

 

Guidelines for Business Plans
Due May 12th 11:59 PM PST

Suggestions for revisions:
-Maintain a realistic estimate of initial costs to start-up.
-Please do not include personal information (SSN’s, bank account numbers)
-Ensure that your business plan reflects thorough research of your market.
-Remember – Writing a business plan is an iterative process. It is important to constantly review and edit the content of your business plan (and know it well!).

Judges will meet before May 29th to deliberate the plans. Final decisions will be based on a combination of teams’ plans and presentations.

Guidelines for Presentations
Due May 19th 11:59 PM PST

Presentations are: May 29th 5 PM
8 minute public presentation with a 4 minute Question and Answer Period
What must be included in the presentation:5 slides that will aid your team in addressing the following:
-What your product is, and what needs does it address
-What is the size of your market and who is your competition
-How you plan to introduce your product to the market
-Key financial numbers and projections
-The management team

The judges will view your presentations as Angel Investors or VCs will. They will want to know the logic behind your method of execution, and ensure that you have done the diligence and understand your market. Be prepared to have specific questions asked, this is your business and you should know its details well.

It will aid your presentation to be prepared, organized, and wary that the introduction and conclusion are the most important portions of your presentation. Since your team will be presenting to a large audience, it is important to deliver a strong presentation that the audience will want to pay attention to. 

Judges TBA, but includes VC’s, Entrepreneurs, Bankers, Lawyers and Executives.

 

Confidentiality:

All information will be kept confidential, to the extent allowed by law, and is for the use of this business plan competition. We will not provide, sell, or distribute information about your company or your business plan to other parties or third parties.

 

Team Composition

All team members must be enrolled, full-time UCSC undergraduate or graduate students in good academic standing, or alumni who have graduated less than two years prior to the due date of the Executive Summary.  Others, such as faculty, students from other universities, relatives, or alumni who graduated more than two years prior to the due date, may provide assistance, but their names will not be included on the official team-member list for this competition.

 

What can I win?

The winners will be determined from all eligible entrants. The winners will be presented with awards at Competition Final Round – Public, to be held Friday, May 21, 2010. Winners must be present to accept awards. All finalists team members will be expected to participate in or attend the Competition Final Round – Public.

The maximum award distribution for the Grand, Second, and Third prizes shall not exceed $25,000. Additional prizes may be awarded to other entrants. Other entrants must be present to accept these awards.

We will have four winners, first through third, and a final peoples choice award! We will have a more accurate breakdown in the next upcomming months.

NOTE: There is no guarantee, expressed or implied, that any business will receive an award. Should no entries into the competition meet the entry criteria, should no entry have a reasonable chance for success and should the judges determine no winner exists for that year of the competition, no award will be made for that year and the award money will be used for the following year’s competition. The odds of winning a prize depend on the skill of the entrants and the number of entries received. All taxes associated with the prize are the sole responsibility of the prize winner. Prizes are not transferable.

 

How will the judges decide on a winner?

Decisions will be made by a panel of judges, as determined by the Competition Advisory Panel group is listed further down.

 

The judging panel will evaluate the plans on the basis of:

-Reasonable opportunity for success of the company
-Company meets an identifiable need
-Company’s strategy satisfies this need
-Company has identified and allocated resources to be successful
-Company utilizes resources effectively
-Company has a believable competitive advantage
-Company has a sound target market analysis
-Revenue and profit models that fit 
-Realistic timeframe for company growth!

The entrants to the Competition will be judged on the merits of their business plans and presentation(s) made to the panel of judges according the to the Competition timeline. In the event of a tie, the judges will select the plan that has the higher score under "Reasonable opportunity for success of the company." All decisions regarding the criteria will be made solely by the Competition Advisory Panel. All decisions of the judges are final.  These Official Rules and the decisions of the judging panel are final and binding in all respects.

 

How do I find out if I won?

The winners will be announced at the conclusion of the Competition Final Round – Public.  In addition to complying with the conditions set forth herein, as a condition of receiving a prize, each winner must sign an “affidavit of eligibility and publicity/liability release.” Failure to sign and return all required documents and forms within 14 days following notification will result in disqualification and an alternate winner may be selected. Return of any prize/prize notification as undeliverable may result in disqualification and selection of an alternate winner.

 

What are the other conditions of the Competition?

Other Funding or Competitions. Teams that have already secured funding from any source must disclose the amounts and sources at the time of entry, or as soon as they become aware of any funding commitment during the duration of the competition. Teams that have entered a plan into any other business plan competition must disclose this at the time of entry or as soon as they enter their plan in another competition during the duration of the Competition. 
Original Work of Authorship. All entries must be original and free from any claim of copyright or other restriction relating to the Competition.

Number of Entries. No individual may be included as a "team member" on more than one business plan entry, and no business may enter more than one business plan.

Payment of Prizes. The cash awards paid by the sponsors/judges do not constitute an investment in the winning business plans. Sponsors/judges will not receive equity in the winning companies in exchange for the prize money. Awards to the winners of the Competition will be issued in the name of the company as set forth in the plan and the sponsors/judges do not assume any liability for any subsequent distribution.

Rights Reserved. Competition Advisory Panel reserves the right to change these Official Rules at any time, in its sole discretion, and to suspend or cancel the Competition or any entrant's participation in the Competition should unauthorized human intervention or other causes beyond Competition Advisory Panel’s control, affect the administration, security, or proper play of the Competition. No responsibility is assumed and entrants waive all claims for lost, late or misdirected entries, or for any problems of technical malfunction of any telephone or network lines, computer online systems, servers or providers, computer equipment, software, failure of any email or entry received by Competition Advisory Panel on account of technical problems or traffic congestion on the Internet, the website or any combination, thereof including, without limitation, any injury or damage to entrant's or any other person's computer resulting from any causes, including without limitation downloading any materials in the promotion. Entrants who violate these Official Rules, tamper with the operation of the Competition or engage in any conduct that is detrimental or unfair to Competition Advisory Panel, the Competition, or any other entrant (in each case as determined in Competition Advisory Panel’s sole discretion) are subject to disqualification from entry into the Competition. Competition Advisory Panel reserves the right to lock out any entrant whose eligibility is in question.

Release and Waiver. By entering, participants, without limitation, release and hold harmless, UCSC, Sponsors, Competition Advisory Panel, and their respective directors, officers, employees, and agents from any and all liability for any injuries, loss, or damage of any kind in connection with the Competition. By entering this Competition, you agree to waive any right to claim ambiguity or error in these Official Rules or in the Competition itself.

 

Judging Guidelines

 

The competition is intended to simulate the real-world process of entrepreneurs soliciting start-up funds from early-stage investors and venture capitalists.  The judges though not functioning as venture capital investors, will make their decision based on which business venture they would be most likely to fund.  The quality of the idea, the strength of the management team, and the clarity and persuasiveness of the written plan and oral presentation, all influence the judges’ decisions.  Ultimately, the winning team should be the team in which the judges would most likely invest their money.

There are three rounds of judging: The Executive Summaries due March 1, 2010, the Semi Final Round April 17, 2010, Final Public Presentations May 29, 2010.

The judging panel will evaluate the plans on the basis of:  
-Reasonable opportunity for success of the company
-Company meets an identifiable need
-Company’s strategy satisfies this need
-Company has identified and allocated resources to be successful
-Company utilizes resources effectively
-Company has a believable competitive advantage
-Company has a sound target market analysis
-Revenue and profit models that fit  
-Realistic timeframe for company growth!

 

Mentors

Each team is required to have a mentor. The mentor will be active throughout the business plan development process. The role of the mentor is to guide students through the competition process.  Mentors will review the student's submission, offer advice, help refine the idea, and encourage the student to persevere through the process of writing a business plan.

Mentor needs

To accommodate the estimated 10 to 15 teams, and to have as little burden on mentors as possible, there should be at most three teams assigned to one mentor. Mentors will be required to have at least bi-weekly interactions with the teams to assess progress and give guidance. Mentors can come from a variety of sources including:
-UCSC Faculty
-Local business owners
-Local chamber of commerce members
-SCORE
-Successful UCSC alumni and friends

 

Objective of Mentors:

To function in advisory roles and provide a first point of contact to people in industry that may raise and help address crucial questions in team projects' development.  Mentors will be needed to help guide the teams in the right direction.

 

Mentor Sign-up:

Mentors will sign up through the competition website, please include:  
-Contact information
-Years of experience/background
-Time commitments/restraints
-Ethics questions

 

Mentor Rules and Guidelines:

 

Mentor Expectations:

-Approximately 1-2 hours per week in assistance
-Guard the confidentiality of the team they are working with during the Competition.

 

Mentors are not expected to:

-Write any part of the business plan.
-Provide capital or access to capital during the competition.
-Join the team through a formal arrangement

 

Mentor Specialty

Mentors will provide the competition with their preferred specialty category either: finance, technical, law, sales or marketing. Participants will be provided with the mentor's background information to determine who would best suit their needs. We will provide a list of mentors not assigned to a team if a team should decide they want an additional mentor.

 

Mentor Matching

Teams will have the option whether to utilize mentors or not. Mentor's information will be posted on the competition website and it is up to teams to make initial contact from the website, mentoring events, or personal contacts. Then, teams will work with the mentor(s) to determine meeting times and other mentoring specifics.  Mentors will be recruited and encouraged to attend various competition events to provide networking and match-making opportunities for entrants and mentors.

 

Advisory Panel

 

Goals:

The goals of the advisory panel are to decide important issues of the competition. The issues include but are not limited to:
-The use of Non Disclosure Agreements
-Changes in the timeline of the competition
-Identify co-marketing opportunities with campus and community organizations related to events, activities, and -mentor/judge identification and recruiting
-Provide governance function related to competition guidelines, judges, etc.
-Advise on design of competition structure, guidelines and expectations.
-Provide governance function related to competition guidelines, deadlines, judges, etc.
-Advise on design of competition structure, guidelines and expectations

 

Semi Final Submission Guidelines

 

Each group will be reviewed and judged according to:

1. Deadline: April 7th
   1. What needs to be turned in

i. Full Business Plan

ii. Two PowerPoint Slides (Elevator Pitch)

1. Will be presented on April 17th

a. An effective elevator pitch generally answers questions such as:

i. What the product is.

ii. What it does for the buyer (e.g. the benefits).

iii. Who you are

2. Executive Summary:

An updated and revised version of your previously submitted Executive

Summary

3. Business section:

a. type of business

b. products/services/proprietary information

c. regulations

d. facilities

e. equipment

f. location

g. operational needs

h. environmental factors

4. Management section:

a. ownership composition

b. management structure

c. managing personnel

d. key personnel

e. security

f. consultants

5. Marketing section:

a. target markets

b. customer segments

c. competition

d. market entry

e. location

f. industry trends

g. method(s) of distribution

h. promotion

i. pricing

6. Financial section:

a. three years of cash flows

b. income statements

c. balance sheets

d. statement of owner(s)’ equity

e. use of proceeds statement

7. Support documents section:

a. credit reference

b. corporate verification

c. personal financial statement

d. resumes

e. licenses

f. proprietary filings

 

 

Last years Competition Advisory Panel:

Eric Gonzalez – UCSC Senior, Business Mgmt. Econ, President Univ. Economics Assoc.
Divya Sharma – UCSC Senior, Dual Degree BME/Engineering
Katia Obrackza – Computer Engineering, Faculty
Mary Flannery – Economics, Faculty
Peter Koht – Santa Cruz Redevelopment Agency
Jeremy Neuner – Nextspace
Sean Tario – Santa Cruz Geeks, New Technology Alliance
Matt Guerreri – Santa Cruz Design and Innovation Center
Stephen Bourdow – Director of Development, Baskin School of Engineering, UCSC