Overview
About the Competition
Multiple Opportunities to Distinguish Yourself
EnterPrize is your chance to develop an impressive business plan with the help of distinguished professionals. Through the competition’s workshops you’ll network with potential partners and investors. As a participant, you’ll compete in either the new business or existing business category, and you’ll have multiple opportunities to stand out because winners are selected during each phase of the competition.
Phase I: Business Concept
Three businesses in each category will win cash prizes for developing an executive summary that:
- Defines customer value
- Estimates market size
- Selects target audience
- Determines feasibility
- Predicts profitability
- Generates business leads
New Business Category Winners:
EcoSoft | JoinSources LLC | iDelphi
Existing Business Category Winners:
Bossa Nova Concepts | ClearChoice Energy
Phase II: Business Plan Components
Two businesses in each category will win cash prizes for expanding their business plans by:
- Examining the components of a successful plan
- Understanding what investors seek
- Focusing on the final product
- Working with a coach
New Business Category Winners:
JoinSources LLC | TuitionChoice
Existing Business Category Winners:
Bossa Nova Concepts
Phase III: Business Plan Details
One business in each category business will win cash prizes for finalizing its business plan with:
- Market, competition and sales information
- Product or service features
- Implementation schedules
- Financing requirements
New Business Category Winners:
TuitionChoice
Existing Business Category Winners:
Bossa Nova Concepts
In 2007, the EnterPrize Business Plan Competition awarded more than $80,000 in cash prizes.
Participants Guide:
An Entrepreneur’s Instruction Book for Starting a New Business
As a Participant in the EnterPrize Business Plan Competition, you’ll receive a manual that details the contents, scope and structure of a business plan along with the expectations investors have when reading one. It also contains essential information on the competition and provides valuable pointers on starting a company.
Here’s just a sampling of what you’ll learn about a quality business plan:
Executive Summary
The executive summary is an independent element of the business plan that investors look at first. The summary isn’t intended to make them invest in your project, but it can convince them not to if critical elements aren’t covered. You’ll be given details on how to include these key elements that answer any potential investors questions.
Business System and Organization
The business system model maps out necessary activities that prepare and deliver a final product to a customer. When you participate, you’ll learn that devising a business system is the best way to understand a company’s business activities.
Market and Competition
Knowing your market and competition is essential to success. As an EnterPrize participant, you’ll learn where to obtain data that helps you make well-founded conclusions and sound estimates that support your market hypotheses. Additionally, you’ll get information on market segmentation that enables you to reach your appropriate customers.
Marketing and Sales
A well-conceived business concept includes a well-planned marketing and sales strategy. EnterPrize provides you with a skeleton framework of “The Four Ps” — product, price, placement and promotion — with information on customer needs, penetration and skimming strategies, distribution channel advice and communications pointers.
Financial Planning and Financing
Financial planning helps you evaluate your business concept’s profitability and financing opportunities. The Participants Guide contains sample tables that explain how to conduct liquidity planning, develop income statements and create balance sheets.
Sponsors
Thank You To Our Sponsors
Citizens Bank
Citizens Financial Group, Inc. is a $160 billion commercial bank holding company. It is headquartered in Providence, R.I., and, through its subsidiaries, has more than 1,600 branches, more than 3,500 ATMs and more than 24,000 employees. Its two bank subsidiaries are RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 13-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, and the Charter One brand in Illinois, Indiana, Michigan and Ohio. CFG has non-branch retail and commercial offices in about 40 states. It is one of the 10 largest commercial banking companies in the United States ranked by assets and deposits. CFG is owned by RBS (The Royal Bank of Scotland Group plc).
Citizens Bank's national lending specialties include leasing and asset-based lending, cash management, international banking, equipment leasing, automobile dealer financial services, investment management, mutual fund and insurance brokerage.
Commercial banking is a priority for Citizens Bank. We take pride in delivering the kind of personal attention and superior service you look for in a bank. Our primary focus is helping you reach your strategic goals. Citizens offers a full array of products and services tailored to meet the needs of companies of all sizes operating in the local, national or global marketplace. We distinguish ourselves by local decision-making, flexibility and responsiveness, and are committed to building lasting relationships. We'll take the time to know your business, understand your marketplace and work with you one-on-one to help your company prosper. At Citizens Bank, you'll also find that our hours aren't typical banking hours. We'll meet with you whenever your schedule demands. It all adds up to a level of service and responsiveness that sets us apart.
Comcast Business Class
Comcast Corporation is the nation's leading provider of cable, entertainment and communications products and services. With 24.2 million cable customers, 11.5 million high-speed Internet customers, and 2.5 million voice customers, Comcast is principally involved in the development, management and operation of broadband cable systems and in the delivery of programming content.
Comcast’s content networks and investments include E! Entertainment Television, Style Network, The Golf Channel, VERSUS, G4, AZN Television, PBS KIDS Sprout, TV One , four regional Comcast SportsNets and Comcast Interactive Media, which develops and operates Comcast's Internet business . Comcast also has a majority ownership in Comcast-Spectacor, whose major holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBA basketball team and two large multipurpose arenas in Philadelphia.
Comcast’s Three Rivers Region serves 850,000 customers in four states, including Southwestern Pennsylvania, Eastern Ohio, Northern West Virginia and Garrett County, Maryland. The region employs approximately 2,400 professionals and has been recognized by the Pittsburgh Post-Gazette as one of the best top ten large companies to work and by the Pittsburgh Business Times for two consecutive years as one of the “50 Best Places to Work in Western Pennsylvania.
Idea Foundry
Idea Foundry supplies the critical ingredients to transform an entrepreneur's business idea into a fundable startup. They bridge the gap of business skills, knowledge, funding and relationships by providing: Skills and knowledge- experienced mentors, a structured process and tools to help develop your business model. Funding - financial support to pay the bills while you concentrate on building your startup and access to capital to take you to the next level. Relationships - a network of technical, commercial and financial resources to assist you now and in the future.
Innovation Works
Innovation Works (IW) strives to increase the success rate of the region’s technology companies by providing business expertise, direct investment and hands-on support. As part of a collaborative network of organizations, including angel networks, venture capitalists, foundations, and public agencies, IW is working to create a vibrant community of innovative companies in southwestern Pennsylvania that will enable our region to succeed in the global economy. To carry out its mission and vision, IW provides a variety of programs and services for stakeholders in the region, including the Innovation Investment Fund, Innovation Adoption Grant, and University Adoption Grant.
KFMR Katz Ferraro McMurtry, P.C.
Since 1989, KFMR Katz Ferraro McMurtry, P.C. has worked with technology, life science, and early-stage companies in providing accounting, tax and consulting services from start-up through growth. In fact, KFMR worked with the first technology transfer company from CMU from its inception in 1989 until it was sold in 1994. Through our experience, we have learned that as much as these companies share common opportunities and challenges, they are equally distinct with their own unique characteristics - making it difficult, if not impossible, to compare or benchmark companies with one another. As a result of our work with numerous early-stage companies, we’ve experienced and mastered the common matters, while having the vision and prowess to navigate the uncharted waters, seeing companies through to the profitable stage and beyond.
With a seasoned, highly credentialed and diversified talent base, we are able to provide a broad scope of services such as audit and accounting services; budgeting, forecasts and projections; due diligence; strategic tax planning and compliance services; strategic business planning; accounting software systems; assistance with debt and equity financing; financial system design and implementation; business valuation services; general business consulting; transaction advisory services; and CFO/Controller services.
In addition to our knowledge, ability and resources, our clients know us for the responsiveness and care we demonstrate – not just in the engagements that we perform – but in the relationships which we establish. Our objective is to learn and understand the issues that affect your business so that we can assist with your needs as well as look beyond the books to help you improve your overall business and financial position.
Pittsburgh Life Sciences Greenhouse
The Pittsburgh Life Sciences Greenhouse (PLSG) provides capital investments and customized company formation and business growth services to our region’s life sciences enterprises. We support biosciences companies with promising innovations in the following concentrations: Biotechnology Tools, Diagnostics, Healthcare IT, Medical Devices, and Therapeutics.
R.P. Simmons Family Foundation
Established in 1987, the R.P. Simmons Family Foundation primarily supports arts organizations and education in southwestern Pennsylvania. The foundation recently has provided funding to the Pittsburgh Symphony Society, Andrew Carnegie Free Library and Community Center, Children’s Museum of Pittsburgh, Sewickley Academy, Carnegie Museum of Natural History, Gettysburg National Battlefield Museum Foundation and Pittsburgh Public Theater.