Participation in the 2013 Georgia Tech BPC requires the following:
Completion of a Intent to Compete ("ITC"). On-Line forms for the ITC are available at this website and are due in to the competition director no later than Wednesday February 20. ITCs are used primarily for competition planning purposes and the earlier your complete the ITC the better in terms of faciliating activities such as the assignment of mentors to teams, setting up judges panels, and other competition specific activities. The ITC requires each team to 1) identify each team member and member splits (shares) in the event of winning a cash prize, 2) a brief description of the venture --focusing on the product/service provided, target market, and utilization of technology - either as embedded in the product/service or the business modle and 3) team eligibility for the undergraduate award and the sustainability award.
BPC Application. The BPC Application is similar to an application that an entrepreneur would complete for an investor or grant issuing authority. The application itself is comprised of nine (9) questions in total addressing topics such as the market, the product/technology, the team, and funding needs. The application form will be provided to each team that submits an ITC and must be competed and eMailed to the competition director along with an 1) Executive Summary, 2) a Business Model "Canvas", 3) an Investor Pitch Deck, and a 4) link to your elevator pitch video posted on youtube. The specific questions that must be answered by completing the BPC Application are as follows. Each question should be answered in 500 words or less.
- What is the problem that your business addresses and have you validated your problem hypothesis with your target market?
- What is your Total Addressable Market ("TAM") and your Sales Addressable market
- Describe the competitive landscape for your business. What is your competitive advantage?
- What is your sales and go-to-market strategy? Have you developed a proven, repeatable sales process?
- What product or service does your business provide and what improvements does your product or service provide over current market solutions?
- Describe the current and future state of your technology. What limitations exists and how do you plan to continue technology development? Does your technology have any intellectual property protections?
- What are your expected commercialization risks and hurtles?
- Describe your management team. In what organizational areas are you strong and in what areas are you weak? What position(s) are you hiring next?
- Attach your projected financial pro-forma statements for the first three years of venture operations.
Executive Summary. Include a 3 to 5 page (single spaced) Executive Summary that highlights your business model and plans in a way intended to get the interest of an equity investor. An Executive Summary typically addresses the problem or market pain, the solution provided by the venture, the value-added and advantages of the solution over the current state of market offerings, how the team plans to execute, and what the projected financial benefits to the investor will be.
Business Model Canvas. Include a depiction of your business model highlighting 1) the value proposition, 2 )the customer segments, 3) the channels to the customer, 4) the nature of the customer relationship, 5) the corresponding revenue streams, 6) the strategic assets needed by the venture, 7) key activitities (or core capabilities), 8) strategic partnerships, and 9) cost drivers. A template will be provided later by the competition to use in putting your business model concept together.
Investor Pitch Deck. A 10 to 15 page slide deck intended specifcially for an investor presentation. It should cover topics including but not limited to: company purpose (why), the problem, solution, the technology, the market segment and market sizing, the go-to-market strategy, competitor analysis and competitive advantage, team, and financial highlights. A good pitch deck tells a compelling story and presents a lot of information in as few words as possible. During the Investor Round of the Competiton the team will have 15 minutes to present their pitch deck (with an additional 15 minutes for question and answer).
Elevator Pitch. create a 60 second (maximum) elevator pitch video and post to youtube (using the identifier Georgia Tech BPC 2013). Include a link to your video in the eMail that submits the other components of the BPC Application.