The top 25 semi-finalist teams from Phase II are invited to participate in Phase III and submit a full business plan. The business plan is the key to launching a new venture. It is a critical tool for communicating to potential investors, strategic partners and key employees how you will implement your new venture and why you think it will succeed. It can serve as an operating tool that helps you manage your business with your specific goals in mind. It is a vehicle for obtaining feedback and input from valued experts. The process of creating a full business plan requires considerable analytical thought.
Submission Deadline
Submissions must be uploaded by 2:00pm (EST), March 16th, 2006.
What to Submit for Phase III
Guidelines on developing a full business plan are produced and distributed throughout the year. In general, a business plan must include the following:
- Executive summary
- Company description
- Product/service identification
- Market, competition and competitive advantage
- Management team and organization
- Operations
- Financial structure and projections
- Documentation and discussion of intellectual property
For a more thorough understanding of how your team's business plan will be assessed, please review the list of Phase III questions for judges . This is a list of questions that judges are asked while reviewing each business overview.
The business plan should clearly tell a reader about your background and experience (plans should not include your names), what you plan to do, how you will execute on your business idea, how you will achieve financial viability and why the reader should have confidence investing in your business.
Unlike in previous phases, there is no limit to the number of words for your submission, other than what you deem is an appropriate length for a business plan.
Also, unlike in prior phases, team member names can appear in Phase III submissions to the Wharton Business Plan Competition
How to Submit
Details of the submission process are distributed to the 25 semi-finalist teams at the conclusion of Phase II.
Benefits of Participating
Students or teams who participate in Phase III will receive the following benefits:
- Written feedback on your business plan from multiple judges
- Eligibility to submit a brief summary of your business plans for inclusion in a "Venture Book" that is distributed at the Venture Finals and to judges and other investors
- The top eight teams are eligible to compete for the Competition's top prizes at the Venture Finals
- Eligibility to receive coaching assistance in preparing to present to a panel of judges
- Ability to distribute marketing materials at the Venture Finals
Judging Criteria
Judges are asked to read the submitted plan and to answer the questions listed in the questions for judges file. The judges will rank plans accordingly.
Judging Outcomes
Judges feedback will be released to participants and the Great Eight finalists will be announced by early April.
Eligibility Requirements
Only the top 25 semi-finalist teams from Phase II are invited to participate in Phase III.
