2012 Ole Miss Business Plan Competition
Open to all Ole Miss graduate and undergraduate students!
Timeline, Rules and Resources
The annual Business Plan Competition, organized by the Ole Miss School of Business Administration, is designed to foster entrepreneurship by encouraging students in the Ole Miss community to develop their business ideas. Over the years, many innovative Ole Miss students gained their entrepreneurial start and subsequently launched successful companies from the Ole Miss Business Plan Competition. On April 20th, 2012, prize winners will win a total of $9,000 in prizes and invaluable mentoring from entrepreneurial leaders throughout the Business Plan Competition.
Prize Categories
Best Business Plan: Judges will be looking for the most innovative, high growth business ideas. Students will be judged upon the competitiveness of their business description, the market opportunity, market size, innovation and feasibility of the technology/product/service, competitive advantage, the business model, the management structure, the financial highlights (path to revenue, etc.) and potential use of proceeds.
Prizes:
1st Place : $4000
2nd Place : $2500
3rd Place : $500
Bonus Prizes: All finalists will be considered for the following bonus prizes, regardless of whether or not they win the Best Business Plan.
$500 for Best Women's team (the team and presentation must be led by a woman)
$500 for Best Sustainable or Green idea (Greatest potential to have a positive impact on the natural environment and generate revenue.)
$500 for Best Social Entrepreneurship idea (The use of entrepreneurial principles to solve a critical social problem at the local, state, national, or global level. This prize may be given to either a non-profit or for-profit startup.)
$500 for Best Interdisciplinary team (team and presentation must be led by students from at least 2 different colleges on campus such as business and engineering)
Contest Timeline
February 3, 2012, Friday:
On-campus Business Plan Competition Workshop, Johnson Commons Ballroom, 2:00-5:00 PM. Entrepreneurial faculty and industry experts will present tips for interested participants.
February 19, 2012, Sunday:
Executive summaries (no more than two pages) and contest entrance form due by 12:00 AM CST via this website: https://www.gust.com/business-plan-competition/ole-miss-business/apply
March 2, 2012, Friday:
Semifinalists are announced via email.
March 6, 2012, Tuesday:
Semifinalist Workshop on-campus, Holman 230, 5:00-6:15 PM.
March 23, 2012, Friday:
Semifinal round, 5 minute presentations. Finalists announced via email.
March 26, 2012, Monday:
Mentors assigned
April 8, 2012, Sunday:
Full Business Plans due by 12:00 AM CST.
April 20, 2012, Friday:
Final Round, 10 minute presentation, Connor 110, 1:00-4:00 PM. Entrepreneurial Reception and winners announced, 5:00 PM.
Contest Rules
Brief Disclaimer.
The School of Business Administration recognizes that no set of rules, no matter how thorough or carefully developed can ever cover all circumstances. Accordingly, all teams are expected to abide by the specific rules enumerated below as well as the overall spirit of the Business Plan Competition. The directors reserve the right to disqualify any team that violates the rules, regulations or the spirit of the Business Plan Competition. These rules may be changed by The School of Business Administration at any time and without notice.
Eligibility.
Each entry must have at least one current Ole Miss undergraduate or graduate student who is playing a major and responsible role in creating and managing the venture. The student should own or would own significant equity upon the venture's establishment. A "current student" is considered to be an individual enrolled in the spring semester at Ole Miss, and student ID numbers will be required to participate. Entrants are encouraged to seek the involvement of faculty, alumni, post-docs, researchers, and staff. If invited to the Business Plan Competition finals, only students may give the oral presentation of the Business Plan and answer questions from judges. An objective of these rules is to prevent non-student ventures from merely adding a student to circumvent this requirement.
Judging.
The judging panel will consist of entrepreneurs, business executives, faculty members, venture capitalists, investors, or any others deemed fit by the organizers. Participants will be judged on the quality of their executive summary, Business Plan, oral presentation, and the viability of their venture. The decision of the judging panel is final.
Submission.
Entrants must register upon submission certifying that the entry is their own work, an original Business Plan or concept, and that they have fulfilled the requirements and abided by all rules of the Business Plan Competition. Students may compete as individuals or as teams of up to five people. No person can enter more than one Business Plan or compete on more than one team.
Prizes.
Prizes are awarded via the student's bursar account. There will be no substitutions for prizes. The prizes are not transferable. It is entrant's sole responsibility to notify The School of Business Administration of any change in entrant's contact information.
Disclosure and Ownership of Technologies and Materials.
All contestants own the rights to their ideas. Submission of an idea to the Business Plan Competition should be considered a public disclosure of the idea. Organizers and sponsors of the Business Plan Competition, staff, judges, audience members, etc. will not be asked to sign any non-disclosure or confidentiality agreements. If a contestant is concerned whether or not they should go public with their idea they should consider consulting with a lawyer prior to entering the Business Plan Competition. The judging/presentation will be conducted in a meeting with attendance open to the general public.
Any data or information discussed or divulged in public sessions by entrants should be considered information that will likely enter the public realm, and entrants should not assume any right of confidentiality in any data or information discussed, divulged or presented in these sessions.
Publishing and Promotion.
Once materials are submitted, the University of Mississippi and The School Of Business Administration reserve the right to publish information about the contestants' work in publications and to release information to the media which may include radio, television, and the Internet.
Miscellaneous.
By participating in the Business Plan Competition entrants release the University of Mississippi, The School of Business Administration, Oxford-Lafayette County Economic Development Foundation and the stockholders, employees, officers, directors, and agents of any of the above organizations from any and all liability for claims, injuries, losses, or damages of any kind caused by participation in the Business Plan Competition. Where legal, by accepting a prize the winner grants The School of Business Administration and Cellular South the permission to use his/her name, address, likeness, photograph, Business Plan Competition submission, and statements in advertising and for other promotional or publicity purposes without further compensation.
By submitting your entry you represent and warrant to The School of Business Administration and the prize sponsors that your entry submission: (i) is your own original work and that you have the sole right to submit it to the Business Plan Contest, (ii) does not violate in any way the rights of any third parties including, but not limited to, copyright and other intellectual property rights, and (iii) does not violate any applicable laws. In the event that you breach any of your representations, warranties or undertakings contained herein, you agree to indemnify and hold harmless The School of Business Administration and the prize sponsors from and against any and all damages, costs, expenses (including reasonable attorneys' fees), and claims of any kind or nature which are incurred by The School of Business Administration and any prize sponsor as a result of your breach.
Your entry to the Business Plan Contest should not include any content whatsoever which would reasonably be understood to be defamatory, threatening, distasteful, racist, unlawful or otherwise objectionable to any person.
The School of Business Administration reserves the right not to accept entries that are considered inappropriate for the Business Plan Competition.
Further Instructions.
Additional requirements and submission guidelines for the Business Plan Competition may be provided during the Business Plan Competition as necessary.
Additional Business Plan Resources
We encourage you to utilize some of the great entrepreneurial resources available to you via local government and non-profit organizations. Below are resources that will aid you in writing a full business plan and in delivering an investor pitch.
Mississippi Technology Alliance Entrepreneurial Resources
http://www.technologyalliance.ms/services/entrepreneurs.php (View Resources Heading)
Small Business Administration Business Plan Resources
http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html (View Middle Page Links)
Informal Business Plan & Investor Pitch Resources
http://www.myownbusiness.org/s2/#1
http://angelsoft.net/blog/2008/09/24/pitch-tips-for-your-presentation/ (video)
SCORE (SCORE is the "Counselors of America's Small Business Owners") http://www.score.org/template_gallery.html
Bplans: Business plan writing tips and samples
http://www.bplans.com/
Download Competition Rules [PDF]
