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Burton D. Morgan Business Plan Competition
2013-2014 Competition
Prizes
Graduate(Open)/GOLD
Division
1st Prize: $ 30,000
2nd Prize: $ 15,000
3rd Prize: $ 7,500
Finalist:$ 3,750
Finalist:$ 3,750
Undergrad/BLACK Division
1st Prize: $ 20,000
2nd Prize: $ 10,000
3rd Prize: $ 5,000
Finalist:$ 2,500
Finalist:$ 2,500
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 (27th 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
Rules of the Competition• Graduate (Open) Student 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, during the Fall Semester of the Competition.
• 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, during the Fall Semester of the Competition. No outside team members.
Purdue students who are part-time degree seeking students at the time of
registration are eligible to compete.
Rules of the Competition
• 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 written
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 teams from previous Burton D. Morgan Business Plan
Competitions cannot enter Teams may enter in subsequent years with a different product or service Individuals can participate in subsequent years if on different teams Each participant can only be on one team One plan per team per year
Rules of the Competition• Other Rules
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, Purdue’s Office of
Technology Commercialization will vet each team’s technology and give approval.
Any “existing” company must have less than $500,000 in annual gross sales and be less than 3 “years old.”
Calendar of Important DatesSeptember 16, 2013: Registration Begins at noon
October 28, 2013: Registration Closes at noon
November 4, 2013: Executive Summary Deadline at noon(Executive Summary must be submitted as a pdf
file)
December 9, 2013: Semifinalists Announced by 5:00 PM
January 17, 2014: Business Plan Deadline at noon(Business Plan must be submitted as a pdf file)
February 7, 2014: Finalists Announced by 5:00 PM
February 18, 2014: 2013-2014 Burton D. Morgan Business Plan Competition
Executive Summary GuidelinesAn executive summary of no more than three pages (plus a cover sheet with team name and
team members) should discuss the proposed business (or non-profit) across the following five 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.
Product/Service/Technology Summary Describe the technology behind the product or service. Discuss how intellectual property has been protected. Describe the product or service and what needs the product/service will fulfill. What competitive advantage is reflected in the product/service?
Marketing Summary Identify the potential customer base, the channels of distribution to be employed, and likely promotional efforts. Discuss pricing strategy. Estimate the size of the intended market and current or likely competition.
Financial Summary Identify the projected cash flow over 2-5 years, general funding sources.
Management Team Summary Identify current and potential members of the management team and advisory board if applicable. Discuss the value added of each person.
Bullets can be used to keep the executive summary concise, but don’t be cryptic.
Business Plan Guidelines
Executive Summary: Synopsis of the Business Plan
Product/Service/Technology Summary: Features, Benefits, Competitive Comparison, Underlying Technology, Needs Being Met, Status of any Intellectual Property
Strategy/Competitive Analysis: Entry Strategy, Marketing Strategy, Selling Strategy, Distribution Strategy, Competition, Competitive Advantage
Market Summary: Market Segmentation, Target Market, Market Need, Market Trends, Pricing Strategy
Financial Plan Summary: Key Assumptions, Break Even Analysis, Profit and Loss Statements for 5 years, Projected Cash Flow for 2-5 years, Projected Balance Sheet
Management Team Summary: Management Team Members, Organizational Structure, Board of Advisors, Key Personnel
The Business Plan has a maximum limit of 30 pages including appendices with one inch (1”) margins and minimum 10-point font plus a cover page and the tear sheet (see the template on the webpage). The report should generally follow the outline below:
Judging CriteriaExecutive Summaries will be evaluated primarily on commercial viability, technical viability, and financial viability criteria. Business Plan Submissions will be evaluated primarily 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 primarily 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 do 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 that investing in their idea may be wise.
MBA Graduate AssistantsBurton Morgan Center
Eric Fredrickson [email protected]
Egemen Gozoglu [email protected]
M. Preston Leavitt [email protected]
Jennifer Rostami [email protected]
Chris Toler [email protected]
27th Annual Burton D. Morgan Business Plan Competition
TOTAL PRIZE PACKAGE OF $100,000
November 4, 2013 Executive Summaries Due
January 17, 2014 Business Plans Due
February 18, 2014 Competition—Burton D. Morgan Center for Entrepreneurship
Registration Deadline October 28, 2013
We are seeking PURDUE students with a unique idea for a new product or service from any discipline.
Register online at:
http://www.purdue.edu/discoverypark/entrepreneurship/
For Additional Information contact:
Bambrah Miller
(765) 494-1335
Graduate Division Matching Sessions organized by Krannert Graduate School of Management’s
Contact: Satish Kunchakuri
Questions???
