|
Open for Business Business Plan Competition Resources |
Business Plan Competition - Deadlines
The competition will be conducted on the following timeline:
- October 20, 2006: Intent to Submit Due or
- October 27, 2006: Late-Entry Intent to Submit Due
By October 20 (11:59pm PT), those who wish to enter the competition should send a short email stating their intent to enter the competition. Those unable to declare their intent by October 20 must do so by October 27 (11:59pm PT) and include an explanation of why they were unable to do so by the first deadline. All Executive Summaries are due on October 27, with no exceptions. Specific instructions are on the Submit Entry page.
- October 27, 2006: Two-page Executive Summary Due
By October 27 (11:59pm PT), all entry teams must submit a two-page executive summary of their idea. Specific instructions and the format of the two-page executive summary are described on the Submit Entry page.
- November 3, 2006: Finalists Announced
On November 3, we will announce up to seven finalists who will be asked to prepare a full business plan for final judging at the Open for Business Conference. We will contact finalists via email and post the names of finalists on the competition home page. We will also make mentors (seasoned business professionals with a passion for Christian mission) available to help finalists develop and refine their business plans. If you are a finalist, at least one member of your team must be present at the Open for Business Conference in order to present your idea. We encourage sending as many team members as possible not only to help your presentation but also so that you can network and get more support for your business.
- December 15, 2006: Business Plans Due
By December 15 (11:59 PT), all finalists must submit a business plan of no more than 20 pages, so that the final judges can review the plans before the presentations. The format of the business plan is described on the Submit Entry page.
- December 28, 2006: Finalist Presentations
On December 28, finalists will present their business plans to judges in a public session open to Open for Business Conference participants. Each team will have up to five minutes to present their business plan, and judges will have up to five minutes per plan to ask questions of the entry team. Based on the presentation, and prior review of the business plans, the judges will select up to three top finishers.
- December 30, 2006: Winners Announced
The top three finishers will be announced at the final Open for Business Conference plenary session on December 30.
- January 31, 2007: Monies Distributed and Follow-Up Milestones Determined
The Open for Business Venture Fund, LLC (the “Fund”) will distribute twenty percent (20%) of the monies awarded to each top finisher within one month of the conclusion of the Open for Business Conference. The remaining eighty percent (80%) will be held by the Fund until the entrants have demonstrated clear progress in the development of their business, as determined by the Advisors of the Fund, some of whom will be judges. The judges will work with each team to set an evaluation point and defined business milestone(s) to evaluate progress and approve the release of the remaining monies to each winner.
- 2007 and beyond (to be determined): Partnership with winners
The Advisors and Fund will essentially make a capital investment in the winner’s business and become a strategic partner. As a result, the winners will be able to meet with the Fund or Advisors each year in order to receive help in the development of the business. As an ongoing resource to the winner, this partnership may include help with strategy, business planning, resource development, partnerships or capital to grow the business.
Print
Email
