Program Details & Submission

IEC Wednesday Workshops

Update: All events are now on Wednesdays from 10:00-11:00am (previously 12:00-1:00pm), via Zoom. RSVP online.

Lunch & Learns on the basic areas of a business plan to help students and alumni applying to the Harriet Stephenson Business Plan Competition or anyone interested in entrepreneurship!

• Jan 13: Ideation and Problem Discovery | Session Recording
• Jan 27: Customers and Value Proposition | Session Recording
• Feb 10: Go to Market Strategy | Session Recording
• Feb 24: Legal and Financial Basics | Session Recording
• Mar 10: The Pitch Deck Formula

2021 Competition Dates

• Mar 25: Screening Round Entry Due
• Apr 1: Top 12 Teams Announced
• Apr 17: HSBPC Pitch Clinic
• May 4: HSBPC Semi-Finals: Elevator Fast Pitch
• May 7: HSBPC Semi-Finals: Trade Show
• Jun 4: HSBPC Finals

Team Registration: Jan 19-Mar 07

• Register your team and members online between January 19 and March 7
• Registration will be an online form, available 1/19
• Submission includes team/business name, team member names, contact information, and very brief description of your business idea.
• Your team registration will be confirmed via email within 24 hours.

Team Coach Application

• You can apply for a Team Coach any time after you register your team. Your application will be reviewed and you will be matched with a Team Coach by the IEC Director within 2 weeks.
• You should not apply for a team coach until you have a very clear idea for the business you will submit and have started to draft your business plan summary. Coaches will help you refine your business plan, but they should NOT be asked to help you brainstorm business ideas, decide between two ideas, write the plan summary for you, work with you before you have started to draft your plan, or otherwise share their time if you are not prepared to use it respectfully.
• Coaches are all local volunteers - many are entrepreneurs, investors, startup consultants, business leaders, and engaged professionals. 
• You should plan to meet with your team coach every week or every other week (ideally in person, at a location convenient for them, but Zoom video calls may suffice) as long as you remain in the competition.

1. The Seattle University Business Plan Competition is limited to teams that include active SU students or alumni as defined below:
• Seattle University students enrolled either full-time or part-time in degree programs during one or more of the following academic periods: Summer 2020, Fall 2020, Winter 2021, or Spring 2021 at Seattle University.
• Seattle University alumni who have graduated from SU prior to the Summer 2020 academic period. SU Alumni from any school or college within the university are eligible to participate in the competition.
2. Non-student business professionals are allowed as team members, but there must be a Seattle University student or alum on the team.
3. The business plan must be developed during the current school year and the student/alumnus must have played a major role in writing the plan.
4. Working with outside entrepreneurs with existing businesses/business ideas is permissible but as noted in #3 above, the student/alumnus must write the plan.
5. Total company revenues cannot exceed $500K (for existing businesses without a business plan).
6. In the Trade Show Round, no more than four team members, including both students/alumni and nonstudents, may present their business concept to the judges at their booth.
7. In the final presentation round of the competition, only students or alumni will present.
8. The Director of the Entrepreneurship Center reserves the right to make the final determination of the appropriateness of submitted business ventures. Not all prizes may be awarded depending on the quality of submissions.
9. Eligible teams must not have previously pitched their idea to an angel or venture investing group.  This ensures a more equitable playing ground for competitors. 

FAQ

How many people should be on a team?

• There is no set number of participants per team, but recommend teams of 2-4 people. Doing the competition as a team of one or as a team of more than four people are difficult to do, but not impossible.

Can I have non-students on my team?

• Yes! Each team only needs one member who is a student or alum. However, this SU student or alum much present the pitches in Rounds 2 and 3, and must be actively involved in developing the business plan

Do I have to use the prize money for the business?

• No! You can use the prize money for anything your team decides - to launch the business, pay for tuition, go on vacation, or pay it forward for future teams! Whatever person or business that accepts the prize money is obligated to pay any required taxes.

Deadline: March 25th, 2021

The Screening Round is the first round of the competition! Teams submit a 2-3 page summary of their business plan, which are then read, reviewed, and scored by Screening Round Judges. Teams with a weighted score of 60/100 or higher (usually 12 teams) will progress to the second round, the Semi-Finals on May 4 (Elevator Fast Pitch) and May 7 (Trade Show).

Submission

• March 25 (11:59pm): online submission of business plan summary (should follow Business Plan Summary Template below)
• Plan should be 2-3 pages, plus appendices, and uploaded in a PDF format. See past examples below.

Judges & Scoring

• Each business plan is reviewed online by 12-15 individual judges who will score each plan according to the Screen Round Judge Scoring Rubric below. 
• The Judges comment on each of the scoring sections and provide a score 1-5 (note: scoring sections are weighted). All teams will receive the judges' comments, but not their scores.
• Judges are all volunteers with a business degree or relevant work experience.
• Business Plan Summaries are judged on various aspects of the plans, with some scoring sections weighted more heavily than others: 
  • Business Plan Overall (20%)
  • Market Opportunity & Customers (20%)
  • Products and/or Services (10%)
  • Competitive Strategy (10%)
  • Business Model, Financial Projections, Funding (20%)
  • Management Team (5%)
  • Sustainability/Triple Bottom Line (5%)

The Semi-Finals Round will be in the form of two online experiences. It includes two separately judged (but equally weighted) scoring sections - the Elevator Fast Pitch, which will take place on Tuesday, May 4, 2021 (12-1:30 PM), and the Trade Show which will take place on Friday, May 7, 2021 (3:30-5:00 PM). 

Part A: Elevator Fast Pitch (May 4, 2021 from 12:00-1:30 PM)

The Elevator Pitch Round consists of a two-minute pitch of the team’s business plan, presented by the active SU student or SU alum team member, in front of a panel of judges. 

• Pitch Judge Scoring Rubric (mentioned below)
• Pitch Outline (mentioned below)

Part B: Trade Show (May 7, 2021 from 3:30-5:00 PM)

The Trade Show is a giant fair where teams have a "booth" space to set up a display and present their business idea. You may have a total of four members of your team, including the student/alumni member, working your booth. Teams are scored by two constituents:

• Trade Show Judges. Trade Show judges are pre-selected judges chosen by the Entrepreneurship Center who visit the booths and select a minimum of three teams they feel have the best business idea and presentation. 
  • Tradeshow Judge Scoring Rubric (mentioned below)

• Audience Choice Judges. Community Choice judges consist of fellow students, friends, and other members of the community who visit the displays and then vote on their favorite business ideas and presentations. They may vote for one to five business ideas and presentations.
  • Audience Choice Judges will receive 'funny money' slips at the event to distribute to their favorite team(s).

Executive Summary Sheet

Each team will create a one-page Executive Summary sheet that will be provided to the Pitch Judges, Trade Show Judges, Audience Choice Judges, and event attendees. The executive summary sheet is due April 21.

• Executive Summary Template (mentioned below)
• Executive Summary Examples (mentioned below)

The Final Presentation Round is where the final teams present their complete business plan to a panel of judges. Normally, four teams will proceed to the Final Presentation round (exceptions to this number may be made based on the quality of business plans submitted). The Final Presentations focus on the complete business plan where teams present their plans to a group of judges and field questions. Presentations are open to investors, Seattle University faculty, staff, alumni, students, and Seattle University friends. Teams will give a maximum 10 minute presentation followed by 5 minutes of questions and answers. The judges will meet after the presentations to make final award decisions. Winners will not be announced until the Awards Reception. The presenters will receive feedback from the judges in written form and mentoring within a week after their presentations.

The finalist teams will receive special coaching sessions prior to their final presentations. If teams choose to revise their final plan before the final coaching session, the business plan will be due back three days prior to the coaching session to give the coaches time to review it. After the coaching sessions, the final business plans will be due at least six days prior to the Final Presentations. The finalist teams will also be required to create a Power Point presentation for the Final Presentation.