the 9 th annual rutgers business plan competition

The 9TH Annual Rutgers Business Plan Competition

Sponsored by the New Jersey Sales Executive Foundation

Welcome!Thank you for coming today.

I’m Dr. Richard MammoneDirector of The Best Institute

My presentation today will briefly cover:1) Rutgers success in commercializing innovation2) Business Plan Sponsors (including BEST)3) Business Plan Competition Rules4) Important Dates

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Rutgers: A Proud Tradition of Commercializing Innovation • Streptomycin Antibiotic was discovered and brought to market by Selman Waksman in

the 1940’s

The Rutgers Jersey Tomato was first introduced in 1934 as an ideal canning tomato used by Campbell’s, Heinz, and Ritter, and is the preferred choice of 75% of commercial growers.

ASK.COM 1990’s search company got its start in the labs of Rutgers University. It employs over

200 in Middlesex County, NJ.

Other Technology Transfer Successes

• The Center for Turfgrass is the nation’s largest – varieties of Rutgers turfgrass are used at Yankee Stadium, Central Park and the White House Law.

• The Crimson Queen, the second cranberry in the history of the United States to be patented, was licensed to more than 40 grower-members of the Ocean Spray cooperative. Rutgers began receiving royalties on its patent this year.

• Rutgers has supported 59 start-up companies since 1989; 39 are based in NJ. In total, these start-ups have received follow-on venture financing of more than $160 million.

Business Plan Competition Objective• To encourage the development of business plans that

have the potential to become an engine of economic growth and job creation in New Jersey

• To give students a unique business world perspective that will enhance their academic experience 

This Year’s Business Plan Competition is Hosted by:

• The Rutgers Business Schools of New Brunswick and Newark,

• The Center for Urban Entrepreneurship and Economic Development,

• The Rutgers Entrepreneurial Society, and• The Business, Engineering, Science and

Technology (BEST) Institute

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What is BEST?• BEST is a new newly formed organization dedicated to educating Rutgers

undergraduate and graduate students in entrepreneurship by immersing them in the science of business via hands on experience (regardless of their major).

• BEST is located in the CoRE Building on Busch Campus - Facilities include:– BEST Institute’s Business Information and Simulation (BIS) Lab/Mentoring

Lounge - Students teams can brainstorm using our specialized business plan software, while meeting with mentors from the New Jersey Business community to discuss the practical application of their entrepreneurial ventures.

– BEST Institute’s Idea Cafe - Where students, faculty, and local entrepreneurs can get together to discuss their ideas for new businesses over a shot of espresso.

Why participate in the Business Plan Competition?

• Access to invaluable resources provided by business plan workshops and mentors from the New Jersey Entrepreneurial Community

• $35,000 in Prizes!• Wherever your passion lies, whether it’s in the

creation of a new business, applying your industry experience to the growth of the a start-up, or being part of a team with a vision to make an idea come to life; the RBS Business Plan Competition has something for you.

$35,000 in Prizes and Much More!

• $25,000 will be awarded to the First Place Winners• $10,000 will be awarded to the Second Place Winners• Contestants will be privy to a wealth of information

designed to enhance their proposals.  • Access to mentors through the SCORE Website will

help participants develop their plans into solid businesses with real world growth potential. 

Rutgers Business Plan Competition

Official Rules

Eligibility• The competition is open to Rutgers University

students of ALL disciplines, campuses and levels including: undergraduates, graduate students, and recent alumni from 2006 or later.

• There MUST be at least one Rutgers Business School student on each team.  This student must have a leadership role within the team and be an undergraduate senior, a graduate student or a recent graduate of Rutgers University.

Intellectual Property/Confidentiality

• Competition presentations will be open to both the Rutgers community and the general public.  Judges, mentors, and staff will not be required to sign confidentiality agreements.

1st Round Business Plan Submission• First Round Business Plan submissions are due via

the BEST website on Wednesday, April 1st, 2009 at 11:59 pm.

• Plans must be limited to 20 pages in length.  An additional 20 pages will be given for appendices, including financial statements.  Balance sheets, income statements, breakeven analysis, cash flows and use of proceeds should be outlined in the financial statements.  The use of proceeds should be described for both the $25,000 and $10,000 prize levels.

1st Round Finalist Selection• On, or before, April 15, 2009, five Business Plans

will be selected to compete in the final round of the Competition.

• The finalists will be provided preliminary comments from the judges.

2nd Round Business Plan Submission• Final Business Plans, together with a 15 minute

PowerPoint Presentation, must be submitted to the BEST website no later than Friday, May 1, 2009 at 11:59 pm.

• Business Plans will be judged according to the following criteria:

– 40% - Written Business Plan, – 30% - 15 minute PowerPoint Presentation and – 30% - Viability of the entrepreneurial venture.

Business Plan Competition Final Judging & Awards

• Thursday, May 14, 2009 the five finalist teams will each give a 15 minute PowerPoint Presentation to the judges panel

• Each presentation will be followed by a 15 minute question and answer session.

• First and second place winners will be announced later in the day.

• $25,000 will be awarded to the 1st Place Company. • $10,000 will be awarded to the 2nd Place Company.

Rutgers Business Plan Competition

Resources & Templates

SCORE Website• http://www.score.org/template_gallery.html• Free business plans for downloading• Online access to mentors • Extensive resource links

Business Plan Table of Contents• I.Table of Contents• II. Executive Summary• III. General Company Description• IV. Products and Services• V. Marketing Plan• VI. Operational Plan• VII. Management and Organization• VIII. Personal Financial Statement• IX. Startup Expenses and Capitalization• X. Financial Plan• XI. Appendices• XII. Refining the Plan

Financial Statements

• Balance Sheet• Cash Flow• Income Statement• Breakeven analysis

Rutgers Business Plan Competition

Important Dates

Business Plan Executive Summaries Due• Monday, March 2nd, 2009 at 11:59 pm - Participants

must submit their names and email address in conjunction with their Executive Summaries (1 - 2 pages) to our website by 11:59 pm.

First Round Business Plans Due• Wednesday, April 1st, 2009 at 11:59 pm -

Participants must submit their Business Plans to our website.

• Judges will select five (5) semifinalist teams with the best proposals as outlined in the Competition Guidelines.

• Semifinalists will be notified of their advancement to the final round of the competition on, or before, April 15th.

Finalists’ Revised Business Plans Due• Friday, May 1st, 2009 at 11:59 pm – Finalists’

Revised Business Plans and PowerPoint Presentations must be submitted to our website

Business Plan Competition Final Judging• Thursday, May 14th, 2009 - The finalists will give a

15 minute PowerPoint to the judges panel. • After their deliberation, the Ninth Annual Business

Plan Competition Awards Ceremony will commence.

Join a team today & become a part of the

Rutgers Business School Business Plan Competition!

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For More InformationDr. Richard MammoneDirector, The Best InstituteRutgers, The State University of New JerseyCoRE Building Room 703, Busch CampusPiscataway, New Jersey 08854Tel: 732-445-5554Tel: 888-594-0080 Toll Free

mammone@rutgers.eduhttp://www.best.rutgers.edu

BEST Institute’s Idea Cafe

• Where students, faculty, and local entrepreneurs can get together to discuss their ideas for new businesses over a shot of espresso.

BEST Institute’s Business Information and Simulation (BIS) Lab/Mentoring Lounge

• Students teams will be able to brainstorm using our specialized business plan software, while meeting with mentors from the New Jersey Business community to discuss the practical application of their entrepreneurial ventures.