Burton D' Morgan Business Plan Competition

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Burton D. Morgan Business Plan Competition

• 2009-2010 Competition Callout

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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 (21st 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
• non-Purdue students can be team members, but 50
  of the team must be currently enrolled Purdue
  students and only currently enrolled Purdue
  students can make the final presentations

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Prizes

• Graduate/Open Division
• 1st Prize 30,000
• 2nd Prize 15,000
• 3rd Prize 7,500
• Finalist 3,750
• Finalist 3,750

• Undergrad Division
• 1st Prize 20,000
• 2nd Prize 10,000
• 3rd Prize 5,000
• Finalist 2,500
• Finalist 2,500

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Rules of the Competition

• Graduate Student/Open 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.
• 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).

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Rules of the Competition (continued)

• 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 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 winners of previous Burton
  D. Morgan Business Plan Competitions cannot enter
• Each participant can only be on one team
• One plan per team per year

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Additional Rules to Keep in Mind

• 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, Purdues Office of Technology
  Commercialization will vet each teams technology
  and give approval.

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Calendar of Important Dates

• September 14, 2009 Registration Begins at noon
• October 30, 2009 Registration Closes at noon
• November 2, 2009 Executive Summary Deadline at
  noon
• (Executive Summary must be submitted as a pdf
  file)
• December 1, 2009 Semifinalists Announced
• January 18, 2010 Business Plan Deadline at noon
• (Business Plan must be submitted as a pdf
  file)
• February 8, 2009 Finalists Announced
• February 23, 2009 2009-2010 Burton D. Morgan
  Business Plan Competition

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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
  across the following four 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.
• Technology Summary Describe the technology
  behind the idea if the idea is a service
  company, provide an outline of how the service
  works. Indicate the competitive advantage of the
  technology.
• Product/Service Summary Describe the actual
  product or service being sold and what exactly
  the product/service will do. Give an indication
  of the price and cost for the product/service, as
  well as the expected financial performance
  generated from the product or service.
• Marketing Summary Identify the potential
  customer base, the channels of distribution to be
  employed, and likely promotional efforts.
  Estimate the size of the intended market.
• Bullets can be used to keep the executive summary
  concise, but dont be cryptic.

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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. The report should
follow the below outline

• Executive Summary Synopsis of the Business Plan
• Product/Service Summary Features, Benefits,
  Competitive Comparison, Technology, Fulfillment,
  Future Products/Enhancements/Services
• Market Summary Market Segmentation, Target
  Market, Market Need, Market Trends, Competition,
  Competitive Advantage
• Strategies Summary Entry Strategy, Marketing
  Strategy, Selling Strategy, Distribution
  Strategy, Pricing Strategy
• Management Team Summary Management Team,
  Organizational Structure, Board of Advisors,
  Personnel Plan
• Financial Plan Summary Key Assumptions, Break
  Even Analysis, Profit and Loss Statements for 5
  years, Cash Flow Statement, Projected Balance
  Sheet

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Judging Criteria

• Executive Summaries will be evaluated on
  commercial viability, technical viability, and
  financial viability criteria. Business Plan
  Submissions will be evaluated 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 on the
  criteria listed above plus Quality and
  Persuasiveness of the oral presentation.

NOTE Entries that describe exciting
technological breakthroughs but fail to show a
clear path to commercialization will not fair
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 to invest in their idea.
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MBA Graduate Assistants

• Randall Fees randall.fees_at_gmail.com
• Tuesdays 1230 500
• DJ Crandall dj_crandall_at_yahoo.com
• Thursdays 300 600

The EAC is located in room 231 of the Burton D.
Morgan Center for Entrepreneurship. For more
information, or arrange a meeting with the EAC
staff contact entrcert_at_purdue.edu
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Questions