Business Plan Challenge
THE RULES
WHO CAN PARTICIPATE?
IE University bachelor students must first have taken Introduction to Management or Organizational Management, and be selected by their professors to represent their class with the best business idea. If the quality of the idea doesn’t meet the minimum standard required, the class may not be represented in the BP Challenge.
WHAT DOES THE CHALLENGE CONSIST OF?
Selected teams will submit an executive summary of their business plan proposal, and present a pitch. 5 copies of the executive summary should be printed out using Arial font (size 12, double spaced) in a Word document format, and should be no longer than 4 pages. Each team will have a maximum of 5 minutes to make their pitch presentation, before taking questions from the jury and the floor for a further 5 minutes (time will be strictly monitored). Only 1 or 2 team members should present to stick to the allocated time. Both the pitch and summary can be done in English or Spanish.
WHAT IS THE PRIZE?
The winning team will receive €500 in cash to help them start their new business. The second prize will be €250, and the third €100. All three teams will have the opportunity to meet with members of the jury (possible investors), and will be considered for further rounds of coaching and funding.
BUSINESS PLAN CHALLENGE 2019 IDEAS!
FORKIE
Forkie is a product designed to make life easier for those with food allergies. The company proposed creating a portable fork with sensors that detect certain food allergies through the use of green and red indicator lights.
ARTENEC
Artenec proposes the creation of an app targeted toward university students and families looking to spice up their homes. By contracting student and local artists to create on-demand works of art, Artenec promises to benefit the local art community by offering fair commission rates and work opportunities.
BIOVEND: Green On-The-Go
Biovend focuses on providing healthy options on the go. By recycling vending machines, the team proposed bringing healthy snacks to universities, schools, and businesses. By using 100% biodegradable packaging and offering gluten-free, vegan, and vegetarian options, Biovend’s business plan promises to make a positive impact on the fast-food industry.
ROOMIES
This team offers an app which uses personality tests and a drag-and-drop hierarchical list to find users 10 potential roommates, all for the price of 15 euros. Through collaborating with psychologists and lawyers, Roomies guarantees to match students with roommates who are the best fit for them.
CCT: Car Crashing Technologies
CCT offers a game-changing app, through the use of near-field technology, users can scan a sticker placed on the dashboard of their cars which then automatically sends a detailed accident report to insurance companies, such as Mapfre and Mutua Madrileña. Mario Arratibel, Mathieu Metral, Sofía Alvear, and Julio Castelo rounded out the CCT team.
GPSoles
Driven by a passion for assisting those with disabilities, the GPSoles team pitched a unique business plan to assist the blind community in Spain and around the globe. They shared their goals of creating a shoe insert which would have vibration sensors linked to Google Maps to assist visually impaired individuals navigate cities.
CURRO NOW
Curro Now is an app that offers contract-free jobs to students looking for spending money. With the use of GPS tracking, users can consult available jobs in their area, such as helping someone move. Bringing job seekers and those looking for an extra hand together, Curro Now presents a simple solution for those students wanting to find work without fully committing to a part-time job.
UNICHEF
The members of this women-led company proposed the creation of a company offering a healthy food delivery service. Catering to the needs of vegans, vegetarians, and celiacs, Unichef allows students to have easy-to-cook and healthy ingredients sent to their homes. At a price of 9 euros, each meal has an estimated prep time of 40 minutes, making it an easy option for busy students.
EVALUATION CRITERIA
SPECIFIC CRITERIA THAT WILL BE EVALUATED DURING THE BUSINESS PITCHES ARE:
- Clearly identified niche in the market
- Defined target market
- Value Proposition: how does your product or service solve the problem/need?
- Business Model: how does this business make money?
- Management team: how are you prepared to make this business a success?
- Investment needed to start the business, and how much are you requesting from investors?
- Innovation
- Presentation of a prototype
- Web page design
CALENDAR OF EVENTS
December:
Professors announce selected teams representing their group. Selected teams are not obligated to participate
Beginning of February:
Deadline for business plan executive summary submission: to be delivered at the BBA Offices in Madrid or Segovia
Mid February:
Business Pitch presentations, announcement of the winning teams, and award ceremony followed by a cocktail