The Fischell Fellowship in Biomedical Engineering: How to Write a Buniness Plan (Semifinal Round)
Business plans are due by Friday, March 28, 2008.
Need help with your business plan? Contact Karen Thornton, Maryland Technology Enterprise Institute at karent@umd.edu. You may request a a 30 minute, 1-on-1 appointment (on the phone or in person).
Format: Length and Layout
- Up to ten pages of text plus up to 5 additional pages of tables, exhibits, figures and appendices. Nothing beyond these page limitations are allowed. The contact sheet is required and is NOT counted in the ten-page limitation.
- Plans should be SINGLE-SPACED with not less than 1" margins on all sides.
- Use a font not smaller than 12 points in size for text, and not smaller than 8 point font for spreadsheets. Font should be either Times New Roman or Arial.
- The header should include the business or company name/title in the right corner and the footer should state: "Fischell Fellowship in Biomedical Engineering Business Plan Competition: Spring 2008"
- Entries must be submitted ELECTRONICALLY by e-mail to fischell_fellowship@umd.edu no later than Friday, March 28, 2008.
Format: Content
Include enough research detail to assess the technology.
- Cover/Title page
- Table of Contents, Illustrations, and Figures
- Executive Summary
- Elevator pitch (one "quickie" sentence each):
- Product (i.e., describe the business concept/opportunity)
- Value proposition
- Target market
- Competitive advantage
- Product, Process, or New Business Model
- IP
- Target Market
- Customers
- Value Proposition
- Competitors
- Competitive Advantage
- Research History
- Research Team
- Stage
- Business model
- Revenue Projections
- Profit Projections
- Funding
- Prior Funding (if applicaple)
- Funding Needed
- Potential Return for Investors
- Products or Services
- Understandable brief technical description
- Value Proposition (specific human needs addressed)
- Intellectual Property Protection
- Possible Future Products
- Market
- Industry
- Growth
- Size
- Segments
- Entry Barriers
- Target Markets
- Growth
- Size
- Customers
- Buying Power
- Buying Preferences
- Present and Future
- Competitor Matrix
- Strengths and Weaknesses
- Competitive Advantage
- Substitutes
- Potential or Plan for Creating a Company Built Around the Research
- Vision, Mission, and Values
- The Management Team
- Advisors and Board Members
- History/Stage (only if already in place)
- Marketing and Sales Plan
- Marketing Strategy
- Sales Plan
- Goals
- Bottom-up Sales Projection
- Promotion
- Media
- Incentives
- Pricing
- Distribution Channels
- Organization Plan (Implementation) (OPTIONAL)
- Legal Structure
- Organization Structure
- Management Needs
- Experience
- References
- Staff Needs
- Motivation/Compensation
- Other HR
- Operations Plan (Implementation) (OPTIONAL)
- Technology Status
- Regulatory and Legal
- Manufacturing Requirements
- Facilities
- Equipment
- Supply Chain Issues
- Growth Plan (OPTIONAL)
- Growth Strategies
- Product Development
- R&D Plan
- Spin-offs
- Benchmarks or Milestones
- Staffing
- Resources needed
- Difficulties and risks
- Other internal strategies
- External Development?
- Franchising
- Acquisitions
- Contingency Plan/Critical Risks (OPTIONAL)
- Environment Markets
- Price Cutting
- Products
- IP persistence
- Competitive threats
- Operations
- Limited Experience
- Cost Overruns
- Organization/Management
- Dependence on Key People
- Limited Experience
- Financial Plan
- Pro Forma Statements (2-3-years; complete cash flow)
- Burn Rate/Breakeven Point
- Investment proposal
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