Startup Success Competition
Transcript: Startup Success is unique: It is not a business plan competition, per se. It is about starting businesses, not writing business plans. ...and, it's about manufacturing, service businesses and retail. Custom tailored to meet your community's needs Creates buzz, excitement, and a focus on why your community is the place to start a business Focuses the community on entrepreneurship and new businesses A high visibility program that helps to achieve the vision while addressing the challenges Provides the status, recognition, and buzz of a big city business plan competition while helping entrepreneurs in your community get their businesses started, because when entrepreneurs startup companies, they create new jobs, new revenue, and community pride. Startup Success is unique: Business guidance provided to participants through workshops, Startup Success Guide, Essential Spreadsheet templates, and judging feedback. Entrepreneurship Challenges: Up to three Startup Success Seminars will be presented as part of the competition. Competition Judging 21 entrepreneurs entered the competition Five finalists Three winners All five finalists will have their businesses operational by this summer. Entrepreneurship & Community Development Competition Criteria - Financial/Operational Viability/Sustainability Highland Business Plan Competition Competition Criteria - The Pitch Startup Success is Unique: Created to effectively work in smaller communities. The Bottom Line: Venture Advisors will recruit and train a group of judges. Venture Advisors will then manage the scoring and judging process. Winners receive: Cash prizes Free rent Cash to go toward build out/improvements Free local print advertising Free local broadcast advertising City/Chamber traffic building campaign Online/social media package Grand opening, ribbon cutting Chamber after hours event In Kind support Competition finalists will present a two minute elevator pitch to a panel of (celebrity) judges. 80-85% actually launch Most are capital worthy Most exceed year 1 revenue targets Most exceed growth & hiring projections Competition Criteria - Business Model Startup Success is unique: Cash prizes - no equity. The awards are cash and/or in-kind services and the entrepreneur does not need to give up equity. Modest prizes are just as effective in generating interest/competition entries as the $50,000 prizes offered in major metro and university competitions. Competition Criteria - Concept Leakage - revenue and talent Identifying entrepreneurs Identifying viable, sustainable business models Providing support High failure rate • Completely customized • Operational and resource requirements • Train competition judges • Sponsorship program • Procedures, contracts, and program documentation • Custom competition website • Marketing plan for promoting the competition • Manage Competition entries Focuses the community on entrepreneurship and startup businesses Business Development Job/Population Growth Revenue Growth Vibrant, Exciting Business District Economic Diversity Prosperity Pitch Competition