Skills for the Future AwardAbstract/Business Concept Submission Form

The Abstract/Business Concept - max 5 pages (excluding the Company Introduction). The Abstracts/Business Concepts should be presented in pdf format and the file should not exceed 5 MB.

1. Company Introduction

Company overview (keep only the bold titles and replace the rest with your text)

Company Overview: Word Count 45 Insert Company LogoPain: Word Count 45 (Define the pain point that drives your business. What

customer problem, need, or want does your business address? This is a core concept you'll need to establish with a mission statement. Who is better off because your business exists, and why are they better off?)

Solution to relieve the pain: Word Count 45Product: Word Count 10

Company identification

Company Name: Company Address: Phone: E-mail: Website:

Company Financials

Sales:Net Profit:Assets: Liabilities:Equity (Assets – Liabilities):

Cash:

The team (max 5 team members, max 15 words to introduce each; replace the bold text with the names, delete the “Introduction” prompts)

First Name, Last Name IntroductionFirst Name, Last Name IntroductionFirst Name, Last Name IntroductionFirst Name, Last Name IntroductionFirst Name, Last Name Introduction

2. The Abstract/Business Concept

1. Executive summary: (Delete this description, keep only the bold title, enter your own executive summary - the executive summary may not exceed one page and should provide the essential information related to the company performance. The executive summary is the most important part of a business document. It is the first (and sometimes the only) thing others will read and the last thing you should write. It is simply a brief summary of the document, given so that the busy people who will read your document know at a glance how much to read and what actions will probably be needed. It is usually the first page of the body of a company report. There are many online resources about how to write an effective executive summary – search/find/use them. To score maximum, it must be Clear, Exciting and Effective as a stand-alone overview of the business concept or plan)

2. Analysis of financials: (Delete this description and the structure of the statements below it, keep only the bold title, enter your own analysis of financials - presented in summary form that makes it easy to read and understand. Recommended extent is one page. Consistent with the overall information in the Abstract and effective in capturing financial performance; provides analysis of financials as well as the information about (a) proposed allocation of earnings, (b) required funds and utilization of funds, (c) share-holder capital, (d) financial assumptions, and (e) comparison with the initial financial forecasts. Profit and Loss Account and Balance Sheet will be presented in the structure as outlined below. Additional line items are allowed if needed for creating a true picture of the Company’s finances. The statements may be presented Monthly, quarterly or as an annual summary (recommended).

Profit and Loss AccountA SalesB PurchasesC Production WagesD Closing StockE Cost of Sales (B + C - D)

(A - E)Gross Profit

F Salaries, comissions and BonusesG StationeryH Rent & HireI Miscellaneous ExpenditureJ Registration Fee

Total Expenses (F + G + H + I + J)K Gross Profit Less Total Expenses

Operating Profit (or Loss)L Miscellaneous IncomeM Net Profit (or Loss) (K + L)N Corporation Tax PayableO Profit after Tax (M - N)P Appropriations of Profit (Q + R + S):Q Dividends:R Donations:S Other:

Balance (should be nil) (O-P)

Balance SheetCurrent Assets:

StockDebtorsCash at BankCash in Hand

(A) TOTAL CURRENT ASSETSLess:Current Liabilities:

Bank OverdraftLoansCreditorsCorporation Tax PayableVAT Due

(B) TOTAL CURRENT LIABILITIES (C) BALANCE (A - B)

Represented by:(D) Issued Share Capital: _______ shares at ______ €(E) Profit & Loss Account (Profit after Tax)

(F) Shareholders' Funds (D + E)

3. Products or Services (Delete this description, keep only the bold title, enter your own description of product/service – Description of products or services. Recommended extent is half page. Features and benefits of the products or services. Pricing strategy and current stage of development. How realistic the product/service is for use in the automotive industry and why.)

4. Innovation and sustainability (Delete this description, keep only the bold title, and present your own explanation of innovation and sustainability. Recommended extent is half page)

5. Analysis of Overall Business Performance and Profitability (Delete this description, keep only the bold title, enter your own description - Recommended extent half page. Present the profitability of the company – where the profits came from and why (gross and net margin, fixed versus variable costs). Explain the determinants of the profitability, how scalable the business is and how revenues, costs and profit would change with an expansion.)

6. Marketing (Delete this description, keep only the bold title, enter your own description - Recommended extent half page. Did the company carry out market research, understand what it told them? Did the company respond appropriately to the information gathered in market research? How did the company respond to the customers’ reaction to their product/service? What marketing, sales and promotional techniques were employed and how effective were they in maximising sales? What are the marketing, sales and promotional techniques the company is going to use at the Skills for the Future Finals to attract attention and convince the visitors and jury about a high quality of the company?)

7. Teamwork (Delete this description, keep only the bold title, enter your own description - Recommended extent max half page. Present the roles of the key team member and explain how their performance and team work contributed to the business results.

8. Appendices (The Abstract + appendices may not exceed 5 pages in total. Provide supporting information to the executive summary and financial forecast: the appendix can include pictures of the product or service + links to the video + media coverage)