Goes to: Entrepreneur and Student[edit What it goes to]

Description[edit]

The Rhode Island Business Plan Competition is the leading community-supported business plan competition in the Northeast, supported by private businesses, colleges and universities, public entities, and nonprofit organizations.

Established in 2000, the Competition aims to further develop the entrepreneurial spirit in Rhode Island and help create growth companies that will increase local employment.

The Competition encourages plans for new businesses, as well as from early stage companies. An early stage, or seed stage, company typically is at the inventor stage where there is an idea, a concept, or even a product, but little or no income has been generated yet. See complete rules.

The 2010 Rhode Island Business Plan Competition is supported by its sponsors and organized by co-chairs David Mitchell, Dean, College of Business, Johnson & Wales University, Garrett Hunter, founder of the Rhode Island Business Plan Competition, and Larry Davidson, principal with Kahn, Litwin, Renza & Co., Ltd.

Eligibility[edit]

Applicants, 18 years of age or older, may compete in one of the following tracks:

1. Entrepreneur track — Open to any entrepreneur or would-be entrepreneur.
2. Student track — Open to any student enrolled in and attending an accredited college or university at the undergraduate or graduate level. All key members of the team must be students.

Judging Criteria[edit]

All good business plans convey a sound business idea. The actual written plan can do a lot to help you secure financing, because, when well done, it demonstrates that you have considered the relevant key variables that are important to the success of the idea.

The judges will rely on the following criteria in judging the Competition:

• The commercial potential of the business, with high-potential, growth oriented businesses likely to be viewed more favorably.
• The innovative nature and technical feasibility of the idea.
• The likelihood that the business described in the plan can achieve a sustainable, competitive advantage.
• The credibility of the individuals behind the proposal.

Judges in the Rhode Island Business Plan Competition will also consider the following:

• Viability
  Is the opportunity reasonable and supported by a sound execution strategy?
• Realism
  Have the assumptions behind the plan been tested in the market to determine the need for the solution being proposed? Does the plan allow for contingencies?
• Competitiveness
  Have you identified competitors and enumerated your competitive advantages? Can the business successfully resist competitive pressures?
• Maturity
  Do the plan authors understand the nature of the business they are proposing, and are their assumptions, projections, and solutions realistic?
• Experience
  Does the applicant have a management team, or can it assemble one, that has the breadth and depth of experience required to make the plan a success?
• Dedication
  How has the team evidenced the tenacity required to launch and grow a business?

Web Presences[edit]

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