Executive
Summary Guidelines (3 to 5 pages maximum) Team submissions will be judged on a three to five
page executive summary of their business idea and concept. The
summary should give us a complete idea of what it is that is proposed
in a maximum of
five pages. Bullets
can be used in order to be concise and to the point. The following
topics should be discussed:
Business Summary - This is a summary of the business idea. A background of the company you are planning to form should be provided, in addition to giving a general idea of what the business is seeking to accomplish, including target customers and need that the business is expected to fill.
Technology Summary - This is an outline of the technology
behind the business concept if applicable. This may also be an outline
of the service being provided if a service company is being proposed.
Basically, what we are looking for here is an idea of the innovation
behind your business, who your competitors would be, how you are different
from them, and what types of strategies will you utilize in launching
your business. Also a description of the competitive advantage that you
anticipate is required - (i.e. what is stopping other competitors from
entering your area, how are you better than everyone else in the market)?
Product/Service Summary - This is an outline of the
actual product or service you will be selling and a complete description
of what it is exactly that you are proposing to market and how you
are going to go about designing, developing, producing and delivering
it.
This section of the report should include an assessment of the target
market (who your customers are) and its size.
Financial Summary - This is a summary of the financial analysis for the business, with ideas of revenues, costs and capital requirements. Projections of revenue and costs over a 3-5 year period should be included, with an estimate of profit margins and capital requirements. In this section, please respond to the following:
- Describe anticipated sales volume
- What price will your product or service be sold at, and what is your expected cost? Include high-level summary of margins and profits as well. (Cost - Sales Price)
- Describe the financial performance you expect your product or service over a 3-5 year time period, with an idea of the expected income anticipated.