The best preliminary round business concept submissions will tell a compelling story that provides a number of key components that are highlighted through the Ideas to Action and Venturing for Good curriculum videos. Below you will find a list of the components to include in your team’s submission, by competition.
Business Concept Competition
(1) a profile of the typical customer;
(2) a description of the customer’s problem or point of pain;
(3) the solution you will deliver to solve the customer’s problem;
(4) an answer to the question, “Why will customers choose your solution over the competitors? (i.e. what is your unique value proposition?);
(5) your plan for making money (describe the revenue model and what fixed and variable costs you expect, i.e. product selling price, unit cost etc.);
(6) an overview of your team’s relevant experiences, skills, and resources
(7) any evidence you’ve collected to validate your claims about the problem, customer, solution, unique value proposition, and revenue model.
Social Venture Competition
(1) a profile of the typical customer and/or beneficiary;
(2) a description of the customer’s and/ beneficiary’s problem or point of pain;
(3) the solution you will deliver to solve the customer’s problem;
(4) an answer to the question, “Why will customers/beneficiaries choose your solution over other solutions currently offered?” (i.e. what is your unique value proposition?);
(5) your plan for the sustainability of your proposed solution (describe the revenue model and what fixed and variable costs you expect, as well as how the solution will continue to be delivered and/or long-term impact);
(6) an overview of your team’s relevant experiences, skills, and resources;
(7) any evidence you’ve collected to validate your claims about the problem, customer, beneficiary, solution, unique value proposition, and sustainability model, and;
(8) plans for how the solution will continue to be delivered and the projected long-term impact.
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