How to Enter
Below is the process is to enter the 2008 North of Boston Business Plan Competition. All materials should be delivered to: Christine Sullivan, Enterprise Center at Salem State College, 121 Loring Ave., Salem, MA 01970
You may submit the preliminary materials (executive summary and entry forms) electronically to csullivan@enterprisectr.org. No faxed entries, please.
By February 22, 2008:
By March 28, 2008:
- complete full business plan
- deliver 15 copies of the completed business plan to the Enterprise Center no later than 5:00pm on March 28, 2008.
Our 2008 requirements are very simple.
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Only startups (not yet operational) and emerging businesses (less than two years old) may apply
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Existing early stage businesses must be located in the North of Boston/Merrimack Valley or must relocate to the area. Click here for a list of towns within the region
- If the plan is for a startup business, that business must commit to locating in the North of Boston/Merrimack Valley. Click here for a list of towns within the region
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Businesses with existing professional venture investment are not eligible
- Contestants shall have no more than $200,000 investment (exclusive of real estate) from sources other than professional venture capital
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Business must have plans to grow to at least 5 full time or FTE employees in addition to the founder(s) within two years
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Your business idea must be original work that you’ll be able to fully disclose
The plan overview should include the following elements:
Introduce the business concept in an organized and concise manner. The plan overview should be designed to pique the reader's interest and encourage him or her to review the business plan. The overview should not be longer than three (3) pages and include the following elements.
- Concept Summary
- Description of the overall product or service being offered and the need these address
- A short statement about the competitive advantages of the new business or venture
- An analysis of the overall market or industry
- The specific market segment addressed by the product/service and approximate size.
- Critical factors that have an impact on the industry, e.g., government regulations, approvals, or licensing requirements.
- A description of the specific product or service
- Revenue/Business Model: How will the business generate revenue.
- Describe the target market
- Give a brief description of the competition
- Management Team including a brief description of relevant experience
- Financials including an outline of invested capital needs and sources (how much money are you looking for)
- Revenue projections, estimated operating costs and anticipated profitability over first 3 to 5 years.
- Expected level of profitability—How profitable do you think you will be? How much will your income exceed your expenses?
Format Requirements
- In addition to the three page overview you may use your own cover page with company logo, tag line, etc.
- Please be sure to include entry form with your plan overview. If you do so, the second page of the document must be the entry form above.
- Font size between 10 and 12 point.
- You may use any font you like, however we recommend Times New Roman, Arial, Helvetica, or Garamond.
- The margins should be no less than .75 inches, not including header and footer.
- Please number all the pages including the first page.
- Include your business concept name as a header or footer on all the pages.
- You can submit your entry as a PDF or in Microsoft Word (Office 97 or later). If you choose to use other software for diagrams, tables, spreadsheets, etc., they must be integrated within the Word document.
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