Business Model Gauntlett Award
Awarded in December 2012 to that team or teams (possibly 2) that have developed the BEST Business Model Concept and/or had the BEST APPROACH or EXECUTION in terms of Validating their Business Model Concept. Teams are expected to use the Business Model Canvas and customer development approaches. Although NOT REQUIRED to enter into the Business Model Gauntlett, attendance at the Fall Workshop series will be very helpful in terms of develo-0ping an understanding of fundamental business model concepts and business model components as well as approaches (mainly interviewing and surveying potential market segments (customers)) to validating various business models hypothesis. Participants are encouraged to think of business models as having the following sturcture: value propositions, market segments, (distribution) channels, customer relationships, and revenue streams; as well as key resources, key activities, key partneships, and expense drivers. A sample Business Model Canvas will be provided at the workshops and can be downloaded from the powerpoint presentations used at the workshops. Workshop PowerPoint presentions will be posted at this website within a week of the each workshop date (see Workshops page)
The Business Model Guantlett is open to any student/team that wishes to participate. As mentioned above prior workshop attendnace is not a requirment. Participants must submit their Business Model Entry to email@example.com no later than Friday November 30, 2012. Each entry must include: a Business Model Canvas; a page description of the venture; a one page overview of the approach used to develop and validate the canvas; and a list of team members (if more than 1) and the approach that will be used to split any cash winnings. The Guantlett itslef will consist of a 3 to 5 minute presentation in front of a judges panel. The panel will be allowed to interepret the team presentation with any questions that they may have. After all of the teams present the judges will decide on up to two winners. Judges decisions are final. Judging criteria will be develop after the panle has been confirmed but will be distributed to all participants no later than Monday December 2, 2012.
UL GREENGUARD Sustainability Award (Sponsored by the UL GREENGUARD Environmental Institute)
The Georgia Tech Business Plan Competition is committed to motivating student entrepreneurs to include strong social and/or environmental sustainability attributes in their technology ventures. To this end the BPC GREENGUARD Sustainability Award is a $2000 cash award presented to the venture team whose business plan best incorporates concepts of environmental sustainability.
A sustainable venture, for purposes of the award, will be one that provides products, services or processes (and Business Models) that address environmental problems. Examples of such problems might include but not be limited to reducing environmental impacts, resource scarcity, and global health issues related to the environment.
All teams entered into the BPC by the competition due date will be eligible for the award if they embody sustainability in either their venture's product (green products), processes (for example use of alternate energy), or business model (for example requirment that suppliers be green). Judging for the award will be conducted by a select panel of environmental sustainability entrepreneurs. The award will be announced during the BPC Reception on February 28, 2013.
Some examples of past BPC teams with strong sustainability attributes include the following:
- TOHL (2013 UL GREENGUARD Award Winner). Innovative technology for quickly extending pipelines over large areas to transport in fresh water.
- MeKong Green Tech (2012 GREENGUARD Award Winner). This venture has developed a rice huck gassification process that replaces the traditional combustion process used in brick-making in Southeast Asia -- significantly reducing air polution.
- The Fresh Test (2011 GREENGUARD Award Winner). Reduced waste and spoilage in the food chain using innovative sensor and real time monitoring of ambient storgage conditions of in transit food.
- Safe Water Now (2011 Product Showcase Winner). Ceramic water filter technology that reduces microbiological pathogens in source water by 99.99% and produces enough water daily for a household. Targeted for developing countries and poor populations.
- Puribio (2011 1st Place Winner, BPC). An innovative pump and filtering technology that enable the development of small at home small portable dialysis machines. Also results in reducing the cost of treatment and a 96% reduction in cleansing fluid and waste water requirments.
- Developing World Energy Solutions: Waste to Watts (2010 GREENGUARD Winner). The firm is focused on providing cost-effective energy solutions in the developing world via common electrical waste. The core technology will provide a low-cost alternative to back-up power supplies.
- Via Cycle (2010 BPC 3rd Place Winner). The company has developed a web-based wireless integrated locking mechanism and bike tracking system -- providing campuses and urban environments with a "bike share system in a box" that provides first mile to last mile connectivity.
- BioFueltration (2009 BPC Finalist). Company developed a novel filteration fiber that is significantly more energy efficient and can handle higher throughput than currently used distillation technology. The company believes this technology, based onGeorgia Tech research, will become the new standard in biofuelprocessing.
- JatBiodeisel (2008 BPC Team and Sustainability Winner). For profit organization that encourages the agriculture of Jatropa plants in the South and Southwest United States and the refining the the jatropha plant into a diesel fuel supplement.
- Sustainable Refrigeration (2007 BPC Finalist, UG Award Winner, and Sustainability Winner). Nonprofit organization that will develop the technology for a low cost, environmentally friendly refrigerator for both domestic and medical use. The group aims to microfinance the manufacture and distribution of the model in developing nations.
- SolarLinks Inc. (2007 BPC Team, UG Award Winner) Provides solar power conversion kits for golf carts. The company will capture value by designing, marketing and selling their flagship product to golf courses, institutions, and the retail consumer segment.
- PolyDerm (2006 BPC Team). The PolyDerm venture commercialized a new drug delivery technology using polymer microneedles. With the technology, five times as many people can be immunized while reducing medical waste, eliminating infection risk, and eliminating the need for trained medical personnel to administer the vaccine.
- VirtualBlue (2004 BPC 1st Place Winner). The VirtualBlue venture focused on the development of a digital replacement for blueprints in the building and construction industry. The plan provided for a significant reduction in the use of paper products and the subsequent creation of waste.
- PolyTorx (2003 BPC 3rd Place Winner). The PolyTorx venture developed and commercialized a unique steel fiber that when added to concrete in the construction process dramatically increased the strength and flexibility of the product. Scrap steel wire from the tire industry was utilized as the primary source of raw materials addressing a significant waste product problem.
- Radatec (2001 BPC 1st Place Winner). The Radatec venture commercialized a proprietary sensor technology primarily targeted for the power generation and jet engine industries. The key value proposition for the venture was the ability for technology adopters to dramatically improve fuel efficiency through the use of the Radatec sensor technology.
Elevator Pitch and Product Showcase Competitions. In industry, there are many opportunities to present new ventures and seek funding. To create similar situations, the Georgia Tech BPC includes "Elevator Pitch" and "Product Showcase" competitions. Imagine a scenario for an "Elevator Pitch." You have a chance meeting with a potential influential investor and an opportunity to make a pitch. This one-time shot at telling your story could convince the investor to spend additional time in finding out more about your plan.
Imagine an opportunity during a trade show to be a Show Stopper. You have just setup your first booth on the exhibit floor of a major conference and trade show. It is a prime opportunity to catch the attention of a potential investor or a key customer. There is a lot of activity on the trade show floor and you have limited time to catch this person's interest.
All teams submitting plans to the competition who pass the initial screening process and compete in the preliminary round are eligible to compete in one or both of these competitions.
The competitions will be held during the competition reception on the evening of Thursday, February 28, 2013.
All teams are expected to compete in the Elevator Pitch competition. Teams with products or product prototypes are invited to participate in the 'Product Showcase" and will be given showroom space and a table to set up their product exhibit. For the Elevator Pitch, each team is expected to submit a 1 minute youtube video of their pitch. Videos will then be reviewed by a judges panel who will then select 8 to 10 teams as semi-finalists. Semi-finalists will then compete live on February 28, 2013 at the Annual Georgia Tech BPC Reception Event at the College of Management.
As part of its commitment to the entrepreneurial learning process, the 2013 Georgia Tech BPC includes an Undergraduate competition track. The UG track is designed to encourage undergraduate students to begin their entrepreneurship learning early in their Georgia Tech experience by participating in the BPC and its activities. All team members must be undergraduates to participate in the UG specialty competition. Undergraduates of course are also eligible to win any of the other BPC prizes.
The undergraduate track will operate within the overall guidelines of the competition (i.e. focus on technology, creation of teams, development of a full business plan). The BPC Undergraduate Venture Award is a cash award presented to the undergraduate team that has the best business plan.
All undergraduate teams submitting plans to the BPC by the competition due date will be eligible for the award. Judging for the award will be done by a combination of the competition's external judge panels and a Georgia Tech faculty panel. The award will be presented to the winning team after the preliminary competition round on Friday March 1 2013.
BPC Alumni Award
A panel of former BPC contestants recognize and honor the BPC team that in the view of the panel has the most innovative product concept or business model. Like the Elevator Pitch and Product Showcase Award, this prize is given on the evening of the BPC Reception, February 28, 2013.
Georgia Tech Business Netwwork Award
(New to 2013. Criteria To be Determined and Published Here No Later than December 31, 2012)