Entrepreneurship

Refers to owning, organizing, and managing your own business by providing a necessary product or service.
Overview
Showcase your creativity and business acumen by crafting and presenting a detailed business plan for a product or service you envision. Participants will be evaluated on their understanding of core business principles, the clarity of their ideas, and the practicality of their proposed ventures.

Notes for Judges ● Judges may consider additional factors like creativity, innovation, and potential market impact. ● Each contestant will have 10 minutes to present their project and then the judging co-hort will have 5 minutes for any follow up questions and quick deliberations before the next contestant. Each contestant will only have an allocated time frame of 15 minutes. ● You should not under any circumstances engage with the students before or after the competition until the Awards Ceremony has concluded. ● You must provide honest constructive feedback for each contestant that you are judging. ● Scoring Rubric: ○ 95-100 - Qualifies as a Gold Medalist ○ 90+Up - Qualifies as a Silver Medalist ○ 85+Up - Qualifies as a Bronze Medalist ■ Please take heed that the identifying word here is “Qualifies”. There can be multiple contestants that can qualify as gold medalist and if that’s the case the highest score will receive the gold, and silver and bronze will be allocated to the next two highest scores. ■ In the event the highest score is a 90 then there is no gold medalist and there’s only a possibility for a silver and bronze medalist as long as the remaining scores land within the 85+Up region.

Requirements:

1. Presentation: Prepare a 10-minute verbal and visual presentation outlining your business plan.

a. Optional: 3-minute product demonstration at judges' request.

2. Visual Aid: Create a presentation using Canva, Keynote, PowerPoint, or a physical display.

3. Business Knowledge: Demonstrate familiarity with your industry, general business terms (marketing, product development, financials, target market, etc.).

4. Written Business Plan: Submit a typed, double-spaced, 10-20 page business plan. Include:
a. Cover Page
b. Executive Summary
c. Company Description
d. Marketing Plan
e. Management Plan
f. Financial Plan
g. Supporting Documents (graphs, photos, data)

5. Originality: The business plan and product/service must be original student work.

A Statement of Integrity must be signed.

6. Time Adherence: One point will be deducted per second over the presentation/demonstration time limit.

7. Deadline: Turn in a copy of your business plan by the March 20 deadline. Email to coraopolisnaacp@gmail.com

Submission Guidelines

a. Student name, page number and branch (Coraopolis NAACP #26AB-B) must be on each page of the business plan.

b. Submit the business plan and Statement of Integrity by the specified deadline.

Get Creative and Showcase Your Entrepreneurial Spirit!

This challenge provides an excellent opportunity to develop your business acumen, refine your presentation skills, and potentially launch your own venture.

Good luck!

Contestants Will Be Judged By The Following Criteria:

• Written Business Plan including: (55 points)

a. Marketing Plan (including where you plan to market/promote your product/service, (15 points)

b. Management Plan/Personnel Profiles (10 Points)

c. Financial Plan (including cash profit & loss statement, budget, financial projects for the next 2 years) (15 points)

d. Market Research & Analysis (including target customer/audience industry research/data, product/service/data) (15 points)

• Presentation: ( 45 points)

a. Clarity & Organization (10 points)

b. Content Depth & Relevance (10 points)

c. Visual Aid Effectiveness (15 points)

d. Delivery & Engagement (10 points)

Point Deduction

-1 to -5 In the event the student presentation exceeds 10 mins one point is deducted for every minute over up to five points.