The 4th Annual Fowler Business Concept ChallengeOctober 19, 2012

Introductory Seminar

Rules and Instructions for Competitors

Upcoming Events

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All-Night Fowler Challenge HackathonThursday, October 4th 6:00 pm – 12:00 am

Schulze Hall 3rd Floor Lab (Room 335)

A fun, intense, work session to flesh out, refine and improve your Fowler submission.

Come join the fun!

The ScheduleEvent Date Time Location

Instructions to Competitors (seminar)

Sept. 21, 2007 2:00 PM SOM 2.115

Registration - Intent to Compete

Sept. 28, 2007 Noon

Preliminary Submission Due Oct. 5, 2007 4:00 PM

Announcement of Finalists Oct. 26, 2007 4:00 PM

Finalist Submission Due Nov. 2, 2007 4:00 PM

Finalist Presentations/Judging

Nov. 9, 2007 8:00 AM SOM

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Preliminary Submission Due October 5, 2012 11:59 PMAnnouncement of Semifinalists October 9, 2012 5:00 PMFinal Submission Due October 18, 2012 9:00 PMFinal Presentations/Judging October 19, 2012 8:00 AMAwards Ceremony October 19, 2012 4:00 PM

Sources of Information

• The Fowler Facebook page. This is the most comprehensive source and updates and helpful information will be posted regularly:

Facebook.com/USTFowler

• The Fowler website: bit.ly/TheFowler

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So what should you expect from the teams?

1. They should have a solid understanding of the benefits of their product or service and their value proposition.

2. They should have a defensible estimate of the potential market and the business’ potential revenues.

3. They should have a revenue model for their business. 4. They should have a good grasp of the existing

competition and a solid explanation of where their competitive advantage lies.

5. They should be able to explain why the idea is feasible 6. They should be able to explain how they would begin to

execute the idea with some mentoring and assistance.7. Social ventures should be able to explain

a) the value proposition to their customers/clients, b) the societal benefit created by their business c) how they will be able to create a financially viable

organization.

- From the Letter to the Judges

• Eligibility – The Challenge is open to all currently registered (Fall 2012) UST

undergraduate and graduate students.– All team members must be currently registered as students at UST

and have a valid UST Student ID.

• Undergraduate Division– Teams registering to compete in the Undergraduate Division must be

comprised of all undergraduate level students and all members of the team must be currently registered undergraduate students at UST.

• Graduate Division– Teams must compete in the Graduate Division if they have one or

more currently registered UST graduate student (Masters or Doctoral) as a member of the team.

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Overview of the Fowler Business Concept Challenge

Overview of the Fowler Business Concept Challenge

Step #1 – Go to:

http://bit.ly/TheFowler or

http://www.stthomas.edu/business/schulzeschool/fowlerchallenge/default.html

Click on the how to apply button and download, complete and send the Team ID Request Form to Fowler@Stthomas.edu

Please get this done sooner rather than later. It will assist us in the planning process.

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Overview of the Fowler Business Concept Challenge

Step #2

Complete your 5-page submission and e-mail it to Fowler@Stthomas.edu by 11:59 pm Friday, October 5th.

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Sample Cover Page for Submission to Fowler Business Concept Challenge

Project Title

Division Entered (Grad or Undergrad)

Student ID’s – DO NOT PUT THE STUDENT’S NAMES

I/we attest to the originality of the work submitted.

Do not include team members’ names in the document

• Preliminary submission – Due October 5th. – Body – Brief description of the business idea (maximum 5 pages, double

spaced, 11 point type)• A concise description of the proposed business and why it is

unique/compelling• Target Market

– Who is your customer? – What customer problem will you solve? – How does your customer solve that problem today?– What other solutions will compete for that customer? preliminary

estimate of the size of the potential market– Number of customers that can be reasonably addressed.

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Overview of the Fowler Business Concept Challenge

• Preliminary submission (cont.)• Business Model

– What is your product/service? – How will it solve the problem? – How will your solution create exceptional value for the

customer?– How will you create and sustain competitive

advantage?– How will you generate revenues and profits?

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Overview of the Fowler Business Concept Challenge

• Judging Criteria – Preliminary Submissions– Preliminary submissions will be judged by a reviewer panel using the

following criteria (equally weighted):– Originality (business idea is new, novel, unique)– Clear and compelling value proposition (legitimate, recognized need;

appropriate solution)– Competitive advantage (creates more value for customer than

alternative solutions)– Market opportunity (adequate market size; viable business model)– Feasibility (reasonable prospect of funding and successful

implementation)

• The top business ideas in each of the divisions will be chosen as Semifinalists.

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Overview of the Fowler Business Concept Challenge

Final Submission/Presentation1. Semi-Finalists will be required to prepare and electronically

submit a 12-15 minute MS PowerPoint presentation (maximum 20 slides) detailing their business idea and addressing the key points outlined above.

2. Semi-Finalists will use the MS PowerPoint slide deck to present their business ideas to a panel of judges. Each team will be allowed 15 minutes for presentation and 5 minutes for questions and responses.

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Overview of the Fowler Business Concept Challenge

Judging Criteria – Semi-Final & Finals• Business Idea (67%)

1. Originality (business idea is new, novel, unique)2. Clear and compelling value proposition (legitimate, recognized need;

appropriate solution)3. Competitive advantage (creates more value for customer than

alternative solutions)4. Market opportunity (adequate market size; viable business model)5. Feasibility (reasonable prospect of funding and successful

implementation)• Presentation (33%)

1. Presentation materials (clear, comprehensive, logical flow)2. Delivery (clear, compelling, persuasive)3. Q&A (answered judges questions directly, clearly, effectively)4. Time management (effective use of allotted time)

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Overview of the Fowler Business Concept Challenge

The Finals1. The teams selected as finalists in each division will present

their ideas in groups in the morning round to a panel of judges. 2. The judges will select the top team from each group to move

on to the final round 3. The winners will be selected from the four finalists in each

division by a new panel of judges. 4. The panel of judges will select the winners of ‘The Best

Individual Presenter’ from among all of the finalists

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Overview of the Fowler Business Concept Challenge

A winning submission should address the following questions:

1. What is your product or service?

2. How will you’re business generate revenues?3. What will your businesses’ revenues be after the first, third and

fifth years of operation?4. What is your specific target market and how do you plan to

address it? a) Who are your customers? b) What do they do? c) How old are they? d) Where do they live?e) Other important characteristics

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Overview of the Fowler Business Concept Challenge

A winning submission should address the following questions:

5. Why do they need to buy what your business will sell?

6. How big is your target market

a) # of potential customers

b) $'s spent on comparable products

c) How many of these customers will you reach during first, third and fifth years of

operation?

7. Every business has competition. Who are yours and what

sustainable advantages will your business have over them?

8. Briefly highlight relevant experience of management team.

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Overview of the Fowler Business Concept Challenge

The Prizes

Undergraduate Division

1st $10,000 Scholarship per team

2nd $ 5,000 Scholarship per team

3rd $ 2,500 Scholarship per team

4th $ 1,000 Scholarship per team

Best Individual Presenter - $1,000 Scholarship

Graduate Division

1st $10,000 Scholarship per team

2nd $ 5,000 Scholarship per team

3rd $ 2,500 Scholarship per team

4th $ 1,000 Scholarship per team

Best Individual Presenter - $1,000 Scholarship

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Some Thoughts on Winning Business Ideas

1. The ‘Best Business Idea’ wins not the ‘Best or Coolest’ Technology

2. The Winning teams will be able to succinctly explain how their product creates ‘significant’ value for their customers

3. Filling ‘needs’ and solving ‘problems’ win

4. Winning teams will be able to document the existence of a market for their product/service

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Some Thoughts on Winning Business Ideas

5. Winning teams will be able to demonstrate the potential for ‘sustainable’ competitive advantage

6. Winning teams will have an idea of how they are actually going to generate revenues

7. Winning teams will be able to estimate how much revenue they will generate

8. Winning teams will have feasible ideas – no Mars’ missions

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Some Thoughts on Winning Presentation

1. White space is your friend – don’t clutter the slides

2. No tiny fonts in crowded tables

3. A good picture is worth a thousand words

4. Practice

5. The flow should be logical

6. Don’t look or sound rushed – slow down

7. One speaker and only one speaker should always be the focus

8. Passion, enthusiasm and competence sell ideas

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8 slides you should have

1. Title slide

2. Description of product/service

3. Clear Unique Value Proposition Statement  - What problem is being solved, need met and for whom?

4. Target Market conditions (some or all of below)a) Who is the market – describe them, create image in the mind of audience

b) How big?

c) Existing offerings?

d) What are they currently buying?

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8 slides you should have

5. Competitive analysis - A table that compares features and benefits of direct, as well as discussion of indirect

6. Revenue model and analysis

7. Funding Needs and Uses

8. Team skill sets - what they have and what they need;

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