Innovation Challenge: Spring 2008 Competition
Intent to Compete (Spring Semester)
YOU ONLY NEED TO SUBMIT THIS FORM IF YOU DID NOT ALREADY DO SO IN THE FALL SEMESTER.
Teams that are interested in competing in the Mini-Plan Competition need to draft a short, initial proposal which will be use to:
- Confirm eligibility of team members
- Confirm eligibility of advisors
- Confirm eligibility of the technology
The proposal contents will be kept confidential among the faculty and staff administering the competition and the judges of the competition.
By submitting the intent to compete form, you are confirming your eligibility to compete in spring semester competitions, if you so choose. The Intent to Compete Form is non-binding and will only allow us to confirm your eligibility. More detailed information about the Spring Competition will be sent to you once your form is received. You must compete in the Mini Plan competition in order to be considered for the Final Business Plan Competition.
The Intent to Compete Form should be submitted online, by clicking here. Deadline is 2/08/2008 at 5:00 PM.
Mini Plan Competition
Each team will submit an updated Executive Summary as well as mini-plan, no more than 5 pages in length, to the panel of judges. Judges will screen the mini-plans and will select up to, but not more than, 5 teams to move forward into the Final Business Plan Competition.
The faculty member participating must attest to the technical feasibility of the proposed innovation.
Deadline is 3/17/08 at 10 AM.
This Final Business Plan and Mini Plan will follow a standard format and provide a more detailed description of the actual product or service and:
- How it will be designed or developed
- Its anticipated market, distribution, and promotion
- The company’s competitive advantage
- Its market price and expected financial performance
The Final Business Plan & Mini Plan contents will be kept confidential among the faculty and staff administering the competition and the judges of the competition.
Final Business Plan Competition
ONLY the teams selected to move forward from the Mini Plan Competition will compete in the final competition.
At the event, each team will given an oral presentation to the judges and audience members and will also host a team presentation table during the reception. The judging panel will announce the prize at the end of the event. A single prize for the final competition of up to $45,000 will be awarded in the following manner:
- Must be used to advance the business plan towards commercialization
- $20,000 will be awarded immediately
- $25,000 in additional awards will be made as decided by the judges, contingent on milestones proposed in the team business plan
Teams who compete in this final event will be directly provided a template for the business plan, poster and PowerPoint slides.
Date |
Time/Location |
Topic |
|
2/08/2008 |
5:00 PM [only those who did not submit in the Fall need to do so now] |
DEADLINE to submit an “Intent to Compete” Form for the Mini Plan & Final Business Plan Competitions. |
|
3/17/2008 |
10 AM Submit online or send to demers@ecs.umass.edu |
DEADLINE to submit your Mini Plan for judges to review. This will determine who moves forward to the Final Business Plan Competition. |
|
3/28/2008 |
12 NOON |
ANNOUNCEMENT of finalists from the Mini Plan Competition, who will move forward into the Final Business Plan Competition. |
|
4/28/2008 |
5:00 PM |
DEADLINE to submit final business plan. |
| 5/08/2008 |
3:30 PM – 6:00 PM Open to the public |
FINAL COMPETITON/EVENT |
Questions should be directed to Heather Demers in the College of Engineering at demers@ecs.umass.edu or 413-577-0231.