ti e quest business plan competition

1-What is TIEQuest?

It is a business plan competition for potential entrepreneurs wherein the plans are evaluated, filtered and refined through a number of stages by providing guidance and handholding support by way of mentoring and, finally incentivizing and facilitating financial support to the selected proposals leading to successful business ventures.

2- Why TiE Bhubaneswar chapter should organize TiEQuest?

TiEQuest has been successfully implemented by different chapters in India and outside India benefiting a large number of local Entrepreneurs.

It gives a platform for the successful entrepreneurs for mentoring new and upcoming ones Promotes entrepreneurial culture the society It is a medium for channelizing various policy incentives by the Govt., Govt. Agencies (IPICOL,

OCAC, OTDC etc.) and Financial Institutions (SIDBI, NABARD etc.). It will enhance the “Ease of Doing Business Index” of the State in general and Bhubaneswar in

particular

3- Stakeholders

TiE Members Sponsors (prize money and in kind services) Judges Participants Entrepreneurship development agencies

4- Participants (Open for all)

New Entrants/Startups Engineering Students/Medical Students Management Students Simple Graduates. TiE Directors/Officers or Competition organizers or Judge and their relations are not entitled

to participate.

5- Time Frame

I. Launch Event 3rd week of SeptemberII. Intention to participate with entry fee By Oct. End.

III. Project Profile By Nov. End.IV. Mentoring workshop Last week of Dec.V. Elevator Pitch 3rd week of Jan.2012

VI. Written Business Plan 2nd week of Feb.VII. Presentation-semi-final 4th week of Feb.

VIII. Presentation – Final 2nd week of March

For PARTICIPATION Drop Mail to Swosti Mishra( [email protected]) or

Shiv ([email protected] )

mailto:[email protected]


6- Implementation Plan

1. Launch Event and Info Sessions

The Launch Event is an introduction to TiEQuest. The Launch of the event will be widely publicized through:

Press Meets Panel Discussion on local TV channels Posters & Pamphlets TiEQuest Website with Links on home page of various identified websites.

Following the launch event, a number of information sessions will be organized at university campuses, Colleges (Management, Engineering, Medical etc.), District Industries Centre, Banks, Industry associations (CII-Orissa Chapter, OSIA, Utkal Chamber of Commerce, ITAO, Confederation of IT Enterprises etc.(CITE) and Industrial Promotion Bodies.

Entry Criterion

TiEQuest contestants must meet the following qualifications: • The competition is open to all types of entities (corporation, partnership, proprietorship, etc.)• Contesting entrepreneurs may not be members of more than one entity entering the competition; each entity may only make one submission • Submission must be the entrepreneur’s original idea - proof of origination should be available • The business idea may be new or already implemented. • The contestants must have developed the business venture themselves and be serious about seeing the business venture through to reality (hence, entry fee is levied) • It is strongly recommended that each team select one or more Mentors to guide them in developing a quality business venture. We expect mentors to hold at least three feedback sessions with each contesting entity.

The following will qualify as a mentor:

o A faculty member at University/Institute/Center of Learning o A professional in the industry where business venture is focused o A practitioner/manager of an entrepreneurial assistance program o Upon request from participants, TiE Chapter to provide service of one of its Charter

Members, who have agreed to volunteer their time for this. Any request for this must be submitted to TiE Bhubaneswar Chapter. A biography of these members to be made available online at the web site prepared for the purpose.

2. Intention to Participate

Intention to participate in TiEQuest is submitted by post/person. All submissions should be accompanied by the entry fee of Rs.2000/- (Rupees Two thousand only) per team or per individual by check/D.D/Cash in favor of the Chapter (TiE Bhubaneswar). The entry fee entitles the contestant (only one) to one year membership. Existing TiE members don’t pay the fee. The contestants are added to





the TiE Chapter mailing lists and receive all Chapter events and mentoring information. The Chapter reserves the right to limit competition to first 200-250 applicants. It is advisable to complete all formalities as early as possible. The contestants receive User ID and passwords to access contestants’ portion of the website. All submissions and communications are done through electronic means as much as possible.

Any contestant with specific concern relating to confidentiality of their venture will be provided an opportunity to discuss the matter with a legal advisor. Contestants should request this to the concerned Chapter Coordinator of TiEQuest, after submission of the Entry Form and payment of entry fee. After discussion with a legal counsel, contestants may withdraw their entry within two business days without penalty and full refund of their entry fee (if they do not wish to be members). Contestants submit the names of all their participating entrepreneurs and also that of their advisor. All team members and advisors to sign Entry Form.

Usually, all contestants can expect email confirmation of Entry acceptance by early Nov.

3. Project Profile

Contestants will submit a project profile outlining their business venture as per the format posted on TiEQuest website. The project profile to be submitted electronically and should very briefly cover:

i. Company profile: URL, Industry, employees, year founded ii. Contact information

iii. Background of entrepreneurs, management team and advisors iv. Brief Financial information: revenue run rate, previous capital, monthly burn, pre-money

valuation, and capital sought v. Business Summary

vi. Customer problem addressed vii. Product/service offered

viii. Target market size and characteristics ix. Customers and selling strategy x. Business model

xi. Competitors and Competitive advantage xii. Top and bottom line projections

All successful contestants receive email confirmation for proceeding to next stage by around mid of December.

4. Mentoring Workshop (Last Week of December)

All successful contestants will be invited to a mentoring workshop and the purpose of this workshop is to guide the contestants to improve on their venture. Many Judges of the competition will be participating in the workshop.

5. Elevator Pitch





Contestants will prepare an Elevator Pitch relating to their business venture. They will have an option to present the Elevator Pitch in person or electronically. In case of an electronic submission, the contestants will upload relevant video file.

Maximum time for the Elevator Pitch will be 240 seconds (4 minutes) Contestants may use product samples, pictures or other visual or video aids for the support The pitch should be directed to convince investors to read the detailed business plan. It should

address the value proposition of the business.

All successful contestants receive email confirmation for proceeding to next stage by 1 st week of Feb. 2012

6. Written Business Plan

The contestants will upload .doc or .pdf formats of the written business plan on the TiEQuest Website or a separately dedicated section in the Chapter site. The plans may be 30-50 pages long and should cover:

i. Cover Page detailing: Name of the venture and name of participating entrepreneurs and advisor

ii. Executive Summary iii. Visual aids: Pictures, charts, graphs. Do not include any physical samples. iv. Value Proposition v. Industry background: What is the industry like? How old? How fast is it growing?

vi. Business model: What is the business? How does it work? How does it make money? vii. Customer characteristics: Who are they? What are they like? Why would they choose you?

Why would you choose them? viii. Supplier characteristics: Who are they? What are they like? Why would they choose you? Why

would you choose them? ix. Competitor characteristics: Who are they? What are they like? At what level are they funded?

What advantage do you offer? x. Threats: What are the biggest threats to your business venture? New competitors? New

technologies? Price wars? How does your venture address them? xi. Funding: How much do you need? What would you do with the money? When would you

need more? First year profit-and-loss projections by month, Five year profit-and-loss projections by year, breakeven analysis, payback, IRR, NPV

xii. Profit Potential: When will the shareholders make a return on their investment? How much? xiii. Risk Factors in the proposed venture xiv. Profiles of key management members, specific roles, how strengths of team members match

these roles, positions yet to be filled

All contestants will receive comments from the judges on their business plan by 3 rd week of February and are expected to address these in presentation to the judges.

7. Presentations – Semi-Final

Contestants will make a 20-25 minutes private presentation to a panel of three or more judges. The judges will have already read the written business plan submitted. The focus of the presentation will be to pitch their idea to convince judges to invest in their venture. The presentation will be followed





by 15-20 minutes of a question and answer session. The objective of this round will be to reduce the pool of contestants to a smaller number. All contestants will receive a confirmation (by email) if they are successful in proceeding to the next stage of the competition by 1 st week of March. 8. Presentations - Final

The finalists will make another 20-25 minutes private presentation to a panel of judges. The It is expected that this presentation will answer issues raised in Round 1 presentation and be followed by 15-20 minutes Q&A.

Winners and other proposals adjudged well will be offered possible Incubator facility (depending on availability of incubation facility for the specific proposal) by Organisations including TiE members who have created such facility in Bhubaneswar and other parts of the State.

The Winners will be announced during the TiEQuest Awards Dinner usually scheduled during April 2012.

7- Incubator Facility.

Winners and other proposals adjudged well will be offered possible Incubator facility (depending on availability of incubation facility for the specific proposal) by Organisations including TiE members who have created such facility in Bhubaneswar and other parts of the State. However, the terms of incubation will be discussed and negotiated independently between the Service provider and the promoters of the selected proposals.

8- Prize and in Kind Benefits.

1st 2nd

3rd

Best student team

In Kind Services by TiE members and/or Sponsors

Business advisory services Legal Services Patent Advisory services Market Intelligence services.

The Prize will be decided depending upon the quality of Business Proposal TiE Bhubaneswar receives.



