The 2011 Northrop Grumman $5,000 E-Business Entrepreneurship Competition

The 4th Annual $5,000 E-Business Entrepreneurship Competition is funded by Northrop Grumman and the Thad Cochran Endowment for Entrepreneurship and is presented by the MSU Entrepreneurship Center and the College of Business.

The purpose of the competition is to encourage and cultivate entrepreneurial ideas that utilize the scalability and reach of the Internet.  The competition’s goal is to move new business ideas from conception to implementation.  The winning team of the competition is expected to attempt to operate their business over the summer of 2011.  In addition, the winning team will be assigned to a mentor to assist in the development of their business from the Office of the Thad Cohchran Endowment for Entrepreneurship.  A short written report describing the business’s efforts is due September 2011.  The competition is open to all current MSU students.

 First Prize: $5,000 start up funds Second Prize: $500 Third Prize: $250

For further information contact Robert Moore, Associate Professor of Marketing (RMoore@cobilan.msstate.edu) (662) 325-8648 or Gerald Nelson, Director, Thad Cochran Endowment for Entrepreneurship (662) 325-3817 (GNelson@engr.msstate.edu).

Schedule

April 7  Stage 1 – 3 page Business Proposal Analysis due NLT 4 pm

April 14  Stage 2 - Finalists Announced

April 21  Stage 3 - Final Presentations followed by Reception and Award Ceremony in The Atrium

 

Stage 1: The E- Business Proposal Analysis:

1. Define the Business Opportunity.
1. What problem does your business address?
2. What is your product/service and how does it meet this need?
3. Define your primary target market(s)? What is the size and characteristics of this market?
2. Define the Current Market Environment.
1. What is the industry in which your business will compete?
2. Who are your competitors in the industry (direct/indirect/size)?
3. What is your competitive advantage?
3. Creating a Viable Business.
1. How will you bring this idea to market?
2. How will you make money? Identify your business model.
3. What are the critical issues your team would need assistance with to make your idea a success?

 DO NOT include financial statements or team bios.
Length:
Entries should not exceed three pages. DO NOT use typeface smaller than 11 pt. or margins less than one inch. No financial statements are required. Those who exceed the length limit may be disqualified. A cover sheet (not included in the three page limit) should include the names of all team members as well complete contact information.

Due Date:
The E-Business Proposal Analysis is due NLT April 7, 2011 at 4 pm.  A hard copy can be turned in to the Offices of the Thad Cochran Endowment for Entrepreneurship in McCool Hall Room 200 or sent as an email attachment to Robert Moore, Associate Professor of Marketing (RMoore@cobilan.msstate.edu) or Gerald Nelson,  Director, Thad Cochran Endowment for Entrepreneurship (GNelson@engr.msstate.edu).  Late submissions will not be considered.

Evaluation:
The Business Proposal Analysis will be evaluated by members of the faculty of the College of Business and Industry, The Office of the Thad Cochran Endowment for Entrepreneurship program, as well as invited judges.  Each proposal will be evaluated according to how well the proposal addresses the three areas of the Analysis as well as feasability.

Stage 2: Finalists Announced April 14

The finalist will be announced and notified by email or telephone. 

Stage 3- Final Presentations April 21

Teams will be selected to prepare 1) A Final Business Plan and 2) Prepare an Executive Powerpoint Presentation of their venture idea. 

1. Final E-Business Plan (3-8 pages):

The final business plan incorporates the same sections of the Stage -1 proposal as well as additional information detailed below.

1. Define the Business Opportunity.
1. What problem does your business address?
2. What is your product/service and how does it meet this need?
3. Define your primary target market(s)? What is the size and characteristics of this market?
2. Define the Current Market Environment.
1. What is the industry in which your business will compete?
2. Who are your competitors in the industry (direct/indirect/size)?
3. What is your competitive advantage?
3. Creating a Viable Business.
1. How will you bring this idea to market?
2. How will you make money? Identify your business model.
3. What are the critical issues your team would need assistance with to make your idea a success?
4. Management Team.
1. What experience does each member have?
2. Who will fill key roles in the organization?
3. Who is responsible for what?
5. Budget.
1. Prepare a budget detailing how you will spend the $5,000 investment (maximum 40% for self payroll) in three months - do not include costs for office space or computers.
6. Marketing and Production.
1. Prepare a 3-month Advertising plan and associated metrics for your venture.
2. For your product/service discuss how you will fill orders with actual sources.

Due Date:
The Final E- Business Proposal is due NLT April 20, 2011 at 4 pm.  A hard copy can be turned in to the Offices of the Thad Cochran Endowment for Entrepreneurship in McCool Hall Room 200 or sent as an Email attachment to Dr. Robert Moore (RMoore@cobilan.msstate.edu) or Mr. Gerald Nelson (GNelson@engr.msstate.edu).

 

1. Executive Powerpoint Presentation:

Each team is allotted 20 minutes.  Teams should prepare a maximum 10 minute powerpoint presentation that discusses the key components on the business plan proposal.  In addition, this presentation should include mock up web pages that effectively illustrate the core elements of the proposed business. 

Following the presentation, teams should prepare for 5-10 minutes of questions from the judges.

Due Date:
The Executive presentation is due in electronic means NLT April 20, 2011 at 4pm. Turned in to the Offices of the Thad Cochran Endowment for Entrepreneurship in McCool Hall Room 200 or sent as a Email attachment to Robert Moore, Associate Professor of Marketing (RMoore@cobilan.msstate.edu) or Gerald Nelson, Director, Thad Cochran Endowment for Entrepreneurship (GNelson@engr.msstate.edu).    

Final Business Proposal & Presentation Evaluation:
The Final Business Proposal & Presentation Evaluation will be evaluated by invited entrepreneurs, members of the MSU faculty, and The Office of the Thad Cochran Endowment for Entrepreneurship program.  The Final Business Proposal and Presentation will each constitute 50% of the evaluation.