Burton D. Morgan Business Plan Competition

1. Burton D. Morgan Business Plan Competition 2014-2015 Competition

2. Graduate(Open)/GOLD Division 1st Prize: $ 30,000 2nd Prize: $ 15,000 3rd Prize: $ 7,500 Finalist: $ 3,750 Finalist: $ 3,750 Undergrad/BLACK Division 1st Prize: $ 20,000 2nd Prize: $ 10,000 3rd Prize: $ 5,000 Finalist: $ 2,500 Finalist: $ 2,500 Prizes

3. History • Burton D. Morgan • BS Mechanical Engineering from Purdue in 1938 • co-Founder and President of Fasson Products, Morgan Adhesives, and Basic Search, Inc. (the later was a personal venture company through which a number of manufacturing enterprises were realized) • established The Burton D. Morgan Foundation in 1967 for the primary purpose of the preservation and support of Free Enterprise • “…the application of individual intellect and talent to business pursuits is not only a high calling, but is the heart of American enterprise.” • Burton D. Morgan Business Plan Competition • started in 1987 (27th Annual Business Plan Competition) and stands as the 3rd oldest business plan competition in the US • all Purdue students are eligible to participate in the Competition

4. Rules of the Competition • Graduate (Open) Student Division (GOLD) • Graduate students, undergraduate students, faculty, staff, and even off-campus individuals can be part of the team. However, 50%+ of the team must be currently enrolled Purdue students, during the Fall Semester of the Competition. • Undergraduate Student Division (BLACK) • Purdue undergraduate students with a faculty advisor. The faculty advisor serves to confirm that all team members are all currently enrolled Purdue undergraduate students, during the Fall Semester of the Competition. No outside team members. Purdue students who are part-time degree seeking students at the time of registration are eligible to compete.

5. Rules of the Competition • Intellectual Property • The members of the team must certify and attest to the fact that the science or innovation is the result of their independent work. • Any collaborators who may have participated in the work give their written permission for the science/technology to be presented in an open forum. • Any monies resulting from the competition benefit the team. • Certification of technology ownership must be verifiable. Failure to do so will result in disqualification of the team and/or forfeiture of any prize money won. • Eligibility • 1st, 2nd or 3rd place teams from previous Burton D. Morgan Business Plan Competitions cannot enter • Teams may enter in subsequent years with a different product or service • Individuals can participate in subsequent years if on different teams • Each participant can only be on one team • One plan per team per year

6. Rules of the Competition • Other Rules • You cannot switch teams after close of registration. • You cannot add team members after close of registration. • Only Purdue students can present during the finals. • Team names and team composition must be consistent with how the team registered. • All email communications must include the team name in the subject. • Team executive summary and business plan submissions must be in pdf format. • To confirm intellectual property rights ownership, Purdue’s Office of Technology Commercialization will vet each team’s technology and give approval. • Any “existing” company must have less than $500,000 in annual gross sales and be less than 3 “years old.”

7. Calendar of Important Dates September 15, 2014: Registration Begins at noon October 24, 2014: Registration Closes at noon November 6, 2014: Executive Summary Deadline at noon (Executive Summary must be submitted as a pdf file) December 8, 2014: Semifinalists Announced by 5:00 PM January 5, 2015: Business Plan Deadline at noon (Business Plan must be submitted as a pdf file) February 6, 2015: Finalists Announced by 5:00 PM February 17, 2015: 2013-2014 Burton D. Morgan Business Plan Competition

8. Executive Summary Guidelines An executive summary of no more than three pages (plus a cover sheet with team name and team members) should discuss the proposed business (or non-profit) across the following five areas: Business Summary Describe the background of the company that is planned to be formed or already formed, and give a general idea of what the business seeks to accomplish. Product/Service/Technology Summary Describe the technology behind the product or service. Discuss how intellectual property has been protected. Describe the product or service and what needs the product/service will fulfill. What competitive advantage is reflected in the product/service? Marketing Summary Identify the potential customer base, the channels of distribution to be employed, and likely promotional efforts. Discuss pricing strategy. Estimate the size of the intended market and current or likely competition. Financial Summary Identify the projected cash flow over 2-5 years, general funding sources. Management Team Summary Identify current and potential members of the management team and advisory board if applicable. Discuss the value added of each person. Bullets can be used to keep the executive summary concise, but don’t be cryptic.

9. Business Plan Guidelines The Business Plan has a maximum limit of 30 pages including appendices with one inch (1”) margins and minimum 10-point font plus a cover page and the tear sheet (see the template on the webpage). The report should generally follow the outline below: Executive Summary: Synopsis of the Business Plan Product/Service/Technology Summary: Features, Benefits, Competitive Comparison, Underlying Technology, Needs Being Met, Status of any Intellectual Property Strategy/Competitive Analysis: Entry Strategy, Marketing Strategy, Selling Strategy, Distribution Strategy, Competition, Competitive Advantage Market Summary: Market Segmentation, Target Market, Market Need, Market Trends, Pricing Strategy Financial Plan Summary: Key Assumptions, Break Even Analysis, Profit and Loss Statements for 5 years, Projected Cash Flow for 2-5 years, Projected Balance Sheet Management Team Summary: Management Team Members, Organizational Structure, Board of Advisors, Key Personnel

10. Judging Criteria Executive Summaries will be evaluated primarily on commercial viability, technical viability, and financial viability criteria. Business Plan Submissions will be evaluated primarily on commercial viability, technical viability, financial viability, and management team viability criteria: Commercial Viability: need for product/service, addressable market size, market growth, competitors, and competitive advantage Technical Viability: the uniqueness and features of product/service and intellectual property positions Financial Viability: business model sustainability, profit potential, and capital required Management Team Viability: industry experience, advisory board, technical advisors Final Presentations will be evaluated primarily on the criteria listed above plus Quality and Persuasivenessof the oral presentation. NOTE: Entries that describe exciting technological breakthroughs but fail to show a clear path to commercialization will not do well in the competition. Likewise, winners will not be chosen based solely on the potential size or profitability of the projected enterprise, but instead on how well the team has prepared its business plan, described the business model, explained the implementation, and presented the concept during live presentations. Judges will use evaluation forms to guide their decisions, however, the judges’ goal is to arrive at a consensus regarding which venture they would most likely fund if they were an investment group. Ultimately, the winning team is the team that convinces the judges that investing in their idea may be wise.

11. MBA Graduate AssistantsBurton Morgan Center • Will Owens wtowens@purdue.edu • Joe Mista jmista@purdue.edu • Annie Wilson wilso552@purdue.edu • Dev Chowdhury bchowdhu@purdue.edu • Jenny Rostami jrostami@purdue.edu

12. 28th Annual Burton D. Morgan Business Plan Competition TOTAL PRIZE PACKAGE OF $100,000 November 6, 2014 Executive Summaries Due January 5, 2015 Business Plans Due February 17, 2015 Competition—Burton D. Morgan Center for Entrepreneurship Registration Deadline October 24, 2014 We are seeking PURDUE students with a unique idea for a new product or service from any discipline. Register online at: http://www.purdue.edu/discoverypark/entrepreneurship/ For Additional Information contact: Bambrah Walker (765) 494-1335 bambrah@purdue.edu

13. Graduate Division Matching Sessions organized by Krannert Graduate School of Management’s Contact: byte@purdue.edu

14. Questions???