JUDGE'S EVALUATION GUIDELINES

Evaluation will take place in two parts. Judges will evaluate the written plans a few weeks prior to the competition (40% of final point total). Judges will again evaluate plans based on the oral presentation by each team (60% of final point total). Both evaluations utilize a point-scoring system that will be recorded and totaled to assist the judges in determining the winner. The point scoring system is used ONLY as a GUIDE for the judges. The final decision is not necessarily based on the number of points scored but rather on the judges' qualitative evaluation and consultations with each other during their deliberation session following the presentations. Judges will ultimately consider the entire business concept looking at overall feasibility, combined with significant capital gains potential, attractive investment possibilities and actual implementation.

The reviewers and judges will consist of entrepreneurs, investors, professional service providers and academics experienced in the entrepreneurial process. There will be 8 judges per panel.

Each team will have the opportunity to meet in private with their judging panel after presentations are made for a "feedback session". This session is informal and is not part of the actual judging process, as the decision and announcement of which teams will advance are made beforehand.

Evaluation Criteria for the Written Plan
(40% of total)

1. Executive summary (10%)
Clear, exciting, and effective as a stand-alone overview of the plan; includes brief description of each succeeding section of the plan; can be read in 5 minutes.
2. Company Overview (5%)
Presents a vision, history, current status, strategy, goals, mission and objectives for the business.
3. Products or Services (10%)
Describes the key features and benefits, current stage of development, proprietary position, and competitive advantages of the product or service.
4. Market Analysis (10%)
Presents the growth trends and key driving forces of the industry; identifies the key characteristics and needs of the target market(s); assesses the competitive environment; demonstrates market acceptance for the product or service.
5. Management Team (10%)
Backgrounds and roles of key individuals; history and ability to work as an effective team; personnel needs; organizational structure.
6. Operating Strategies (10%)
Addresses the marketing, production, R&D, personnel, administrative, and financial strategies for the proposed firm.
7. Critical Risks (10%)
Realistically identifies the major internal and external critical risks that could threaten the business and presents viable contingency plans to address these issues.
8. Cash Flow Statement (10%)
Presents a realistic assessment of cash requirements --inflows and outflows-- over a projected 5-year period; cash flows are consistent with operating and marketing strategies outlined in the body of the plan; cash flow information is detailed for first 2 years, quarterly/annually for years 3-5.
9. Income Statement (5%)
Demonstrates realistic and attractive income potential of the business; the income statement is consistent with the operating and marketing strategies outlined in the body of the plan; income statement information is detailed for first 2 years, quarterly/annually for years 3-5.
10. Balance Sheet (5%)
Presents a realistic assessment of the working capital and fixed asset requirements of the business; appropriately reflects the projected capital structure of the business -- long term debt and equity positions; balance sheet information is projected annually for 5 years.
11. Funds Required/Used (5%)
Clear and concise presentation of amount, timing, type and use of funds required for venture.
12. Offering (10%)
Clearly articulates the proposal/terms to investors; identifies what entrepreneur is seeking from investors; states how much equity will be given up in return for investment capital; presents a realistic assessment of ROI potential; presents an appropriate deal structure and possible exit scenarios.

Example of the Format of an Oral Presentation
(60% of total)

ORAL PRESENTATION: SLIDES ONE-TWO

INTRODUCTION: 2 MINUTES

Business name, briefly describe business, value of product, (if have a patent state that up front), if have prototype state this up front, size of potential market, overview of what your product/service does and what the problem is and your solution, money already raise, identify team members and what they will be talking about

ORAL PRESENTATION: SLIDES THREE & FOUR

YOUR PRODUCT, SERVICE, AND BUSINESS CONCEPT: 5-6 MINUTES

• What problem(s) you solve--market satisfied. How do you know this?
• Details of your product or service-how it works, how it creates customer satisfaction
• Stage of technology-prototypes, orders, sales?
• Market support for product--sales so far, market research results?
  

ORAL PRESENTATION: SLIDE FOUR

• Testimonials--from credible buyers, preferably accompanied by orders
  

ORAL PRESENTATION: SLIDE FIVE

YOUR MANAGEMENT TEAM: 2-3 MINUTES

• Startup Management Team: Names, Titles, and brief backgrounds (Have organizational Chart and descriptions of MGMT Team on separate slides with and Board of Advisors.
  
• It's a great product/service and we have a great management team to bring it to market
• CEO details experience & credentials of team
• Show that functional skills of the team members are complementary to each other
  

ORAL PRESENTATION: SLIDE SIX

YOUR STRATEGIC PLAN: 3-5 MINUTES

• Analysis of competitive environment, including potential rivals
  
• SWOT analysis
  
• Strategic options and ones chosen--why?
  
• Marketing plan-product design choice, price, promotion, distribution, warranty
  

ORAL PRESENTATION: SLIDE SEVEN

• Sales plan--including extensions into new regions
• Operations plan--including production and transportation logistics
  
• R&D plan--including expected dates for product upgrades and new products
  
• HRM plan-including growth, training, incentives
  

ORAL PRESENTATION: SLIDE EIGHT

FINANCIAL PROJECTIONS: 4-5 MINUTES

• Summary bar charts--sales, profit, and cash balances for each of the first 5 years
  
• Pie charts indicating revenue from different product lines, geographical areas or both
  
• Net present value of cash flows plus "end of the horizon" valuation of the business
  

ORAL PRESENTATION: SLIDE NINE

• IRR & NPV generated by the business over 5 years
  
• Brief reference to worst-case scenario, lines of credit available if needed, and so forth
  

ORAL PRESENTATION: SLIDE TEN

SUMMARY AND THE DEAL 1-2 MINUTES

• We have demonstrated the quality of our business concept, management team, strategic plan, and financial viability of our business
  
• We are seeking $$ to fund expenses, working capital needs for the first X months, intellectual property protection, and ongoing R&D activity
  

ORAL PRESENTATION: SLIDE ELEVEN

• Exit Strategy: Firm & Investor Valuation: Based on last 3 year average net income & Average P/E Ratio for Industry
  
• Investor portion is valued at??? For a annual rate of return of????? After 5 years.
  

ORAL PRESENTATION: SLIDE TWELVE

RISK AND RISK REDUCTION STRATEGIES 1-2 MINIUTES

• Major risks confronting you?
  
• Proactive risk mitigation strategies?
  
• What are your reactive recovery strategies if those materialize?
  

ORAL PRESENTATION: SLIDE THIRTEEN

• Future Growth: U.S.A.? International?
  
• Summary: Conclusion