Eligibility and Competition Requirements
- Open to all UM students in good standing during the 2016-2017 academic year (students who graduate in December 2016 may enter in the alumni category, unless starting graduate school at UM in January 2017, at which time they must enter into the graduate track.)
- Open to all UM alumni (graduation date must not be older than 2005) (non-UM employees)
- Non-degree seeking students are not eligible.
- Students may enter as individuals or teams, but each individual may only be involved with one plan for the competition
- Must meet competition guidelines and key dates - no exceptions
- No UM employee, whether alumna/us, student or otherwise, may be part of a team. Their participation or affiliation will automatically make the team ineligible to compete.
Each individual or team is required to submit a three to five page initial concept paper for the Business Plan Competition. The concept paper is the document used to determine which applicants will be invited to submit a full, detailed business plan for the competition. Therefore, it is important that the concept synopsis contain as much helpful and relevant information as possible, within the five page limit, to allow for a thorough evaluation of the concept. At a minimum, the following issues should be addressed in detail:
- What exactly is the product or service?
- What is the market?
- Who is the customer?
- What are the financial possibilities (size/profitability goals)?
- What is the business model?
- Management team prowess?
- What is the exit strategy for investors?
Over $50,000 in cash and services will be awarded across various categories.
School of Business Administration