1. Michigan Business Competitions Brought to you by The Zell Lurie Institute for Entrepreneurial Studies The Entrepreneur Venture Capital Club and The Center for Venture Capital & Private Equity

2. Agenda Opening/introductions Opening/introductions Overview of the Business Plan Competition process Overview of the Business Plan Competition process Review of the opportunities Review of the opportunities how to register how to register role of Zell Lurie role of Zell Lurie Putting together a team, a plan, and a pitch Putting together a team, a plan, and a pitch Break/Food Break/Food Pixel Velocity Team Presentation Pixel Velocity Team Presentation Critique and questions Critique and questions Conclusions and Reminders: Conclusions and Reminders:

3. Overview of the Process Paul Kirsch Zell Lurie Institute

4. Key Dates December 15 – Intent to compete forms December 15 – Intent to compete forms Submit to ZLI/EVC Submit to ZLI/EVC For all competitions For all competitions January 17 th January 17 th FuturTech “Quick Pitch” Competition FuturTech “Quick Pitch” Competition Pryor-Hale Biz Plans due Pryor-Hale Biz Plans due later that week, finalists selected by ZLI for Pryor Hale later that week, finalists selected by ZLI for Pryor Hale January 24th - Practice for Pryor-Hale finalists January 24th - Practice for Pryor-Hale finalists February 3rd - Biz plans due for NSVC February 3rd - Biz plans due for NSVC February 7th - Pryor Hale Competition February 7th - Pryor Hale Competition

5. A team, a plan, a pitch… George Weinmann Entrepreneur Venture Capital Club Center for Venture Capital & Private Equity

6. The Team Michigan Students! Michigan Students! UMBS Students UMBS Students Engineering Engineering Etc. Etc. Professors Professors

7. The Business Plan Plan the business Plan the business Write an outline Write an outline Review / discuss Review / discuss Write plan Write plan Review / discuss Review / discuss Test and test and test Test and test and test

8. Many Resources On-line Check Zell Lurie and EVC websites Check Zell Lurie and EVC websites www.zli.bus.umich.edu www.zli.bus.umich.edu www.evc-club.com/ www.evc-club.com/ Check Great Lakes Venture Quest Check Great Lakes Venture Quest www.gleq.org www.gleq.org www.gleq.org www.gleq.org/train_events_calendar www.gleq.org/train_events_calendar www.gleq.org/train_events_calendar

9. The Executive Summary Overview / Brief company description Market / Industry Analysis Problem statement Potential market segment Product/Service Description Solution company provides Revenue/business model Competitive Advantage/Competitors Technical Innovations Management team Finance Projected costs Financing needs Exit strategy (if appropriate)

10. Business Concept Paper Name! Name! Overview Overview One paragraph One paragraph Elevator speech! Elevator speech! Market Market Keep as independent of product idea as possible Keep as independent of product idea as possible Only a few paragraphs Only a few paragraphs Product or Service Concept Product or Service Concept Competitive Advantage Competitive Advantage What advantage your concept offers What advantage your concept offers What the competitors or substitutes offer What the competitors or substitutes offer Why your idea is still better Why your idea is still better Team Team You You Who else will you need (describe) Who else will you need (describe)

11. The Elevator Pitch Prepared for that planned or unplanned moment Prepared for that planned or unplanned moment Finding yourself on an elevator with your CEO… Finding yourself on an elevator with your CEO… … Or that introduction to a top VC! … Or that introduction to a top VC! An Elevator Pitch: An Elevator Pitch: Conveys essential information clearly and concisely Conveys essential information clearly and concisely Communicates passion and credibility Communicates passion and credibility Designed to get attention Designed to get attention Does not take the place of a business plan Does not take the place of a business plan Gets you an invitation to present your business idea on a more in-depth basis. Gets you an invitation to present your business idea on a more in-depth basis. Lasts not more than 30-120 seconds Lasts not more than 30-120 seconds Is well memorized (and can be said several ways) Is well memorized (and can be said several ways)

12. Or… put another way What is your business idea? What is your business idea? Why does anyone want it? Why does anyone want it? Why do they want it from you? Why do they want it from you? Why do they want it now? Why do they want it now? How will you make money? How will you make money? Taken from Taken from Great Lakes Entrepreneurs Quest presentation by IdeaWorks, LLC

13. A Pitch in 60 Seconds! An example provided by Dr. Lawlor: ConstructionBoots.com, is an e-commerce website that sells construction boots, on a b2c and a b2b basis. Our primary market consists of construction workers, with secondary markets including other individuals and companies in the construction trade. ConstructionBoots.com offers the highest quality products and drives traffic to the site by linking to other websites related to the construction industry. We believe that the customer would find purchasing and direct delivery of construction boots easier through our website, rather than purchasing via traditional retail outlets.

14. …Continued We will require $5 million in two rounds of funding to reach break-even and the point where the company can support itself on our own revenues. We seek to raise $2 million in the first round of funding, with a first round valuation of $5 million. We have an industry insider CEO and will hire a CFO and Director of Marketing with our first investment round. We believe we will be the only pure e-commerce construction site and will face indirect competition from traditional brick and mortar B2B retailers who target the trade as well as traditional mass merchandisers. If all goes as planned, we would look to sell ConstructionBoots.com to an industry retailer who sells construction gear.

15. How to Get Started Talk up your interest – your idea Talk up your interest – your idea Find professors and colleagues who are willing to listen, help, or team up with you Find professors and colleagues who are willing to listen, help, or team up with you Find examples Find examples See EVC and GLEQ websites See EVC and GLEQ websites Build a business concept paper Build a business concept paper Be ready to change/adapt Be ready to change/adapt Talk up your idea Talk up your idea

16. Key Dates December 15 – Intent to compete forms December 15 – Intent to compete forms Submit to ZLI/EVC Submit to ZLI/EVC For all competitions For all competitions January 17 th January 17 th FuturTech “Quick Pitch” Competition FuturTech “Quick Pitch” Competition Pryor-Hale Biz Plans due Pryor-Hale Biz Plans due later that week, finalists selected by ZLI for Pryor Hale later that week, finalists selected by ZLI for Pryor Hale January 24th - Practice for Pryor-Hale finalists January 24th - Practice for Pryor-Hale finalists February 3rd - Biz plans due for NSVC February 3rd - Biz plans due for NSVC February 7th - Pryor Hale Competition February 7th - Pryor Hale Competition

17. Competitions January 17 - University of Michigan - FuturTech Quick Pitch January 17 - University of Michigan - FuturTech Quick Pitch January 31 - Harvard Business School - AASU 4th Annual January 31 - Harvard Business School - AASU 4th Annual February 7 - University of Michigan - Pryor Hale Business Plan Competition February 7 - University of Michigan - Pryor Hale Business Plan Competition February 14 - Wake Forest University - KACE Competition February 14 - Wake Forest University - KACE Competition February 21 - Indiana University - Spirit of Enterprise February 21 - Indiana University - Spirit of Enterprise February 28 - University of Nebraska, Lincoln - infoUSA Business Plan Comp. February 28 - University of Nebraska, Lincoln - infoUSA Business Plan Comp. March 21 - Wake Forest University - The Elevator Competition March 21 - Wake Forest University - The Elevator Competition March 21 - Ball State & Syracuse Universities - Enterprise Creation Comp. March 21 - Ball State & Syracuse Universities - Enterprise Creation Comp. March 27 - San Diego State University - Venture Challenge March 27 - San Diego State University - Venture Challenge

18. More Competitions April 3 - Rice University - Southwest Business Plan Competition April 3 - Rice University - Southwest Business Plan Competition April 10 - University of Oregon - New Venture Championship April 10 - University of Oregon - New Venture Championship April 10 - University of North Carolina - Venture Capital Investment Competition April 10 - University of North Carolina - Venture Capital Investment Competition April 11 - University of California, Berkeley & Columbia University April 11 - University of California, Berkeley & Columbia University National Social Venture Competition National Social Venture Competition April 18 - Colorado State University - Venture Adventure April 18 - Colorado State University - Venture Adventure April 2003 - Business Plan Challenge - MBA Jungle April 2003 - Business Plan Challenge - MBA Jungle April 30 - University of Texas, Austin - MOOT CORP. Global Competition April 30 - University of Texas, Austin - MOOT CORP. Global Competition July 2003 - Stanford University - Global Entrepreneurs Challenge July 2003 - Stanford University - Global Entrepreneurs Challenge