The Miclot Business Plan Competition Requirements

The Ron Rubin School for the Entrepreneur

The Miclot Business Plan Competition is actually an opportunity assessment plan competition. The term “business plan competition” is used for the sake of brevity. An opportunity assessment plan includes a description of a product, company, or service and its market need. Competitive products, companies, or services are assessed, analyzing the strengths and weaknesses of each competitor. The plan includes the unique selling propositions of the product, company, or service, along with future growth and characteristics of the market.

Any Culver student is eligible to compete in the Miclot Business Plan Competition.

How do I compete?

You may compete as an individual, or form a team. A team may have no more than 3 members. Each team must select a captain (student), and a mentor entrepreneur – ­­an adult with actual business or entrepreneurial experience. A student competing as an individual must have a mentor­-entrepreneur. Once the team is formed, the captain chosen, and a mentor selected, you must develop a product, company, or service that is entirely new to the market. YOU MAY NOT SELECT A PRODUCT, COMPANY, OR SERVICE THAT ALREADY EXISTS. It may be either “for­-profit,” or “not-­for-­profit.”

Here are the steps to follow:

  1. Submit a summary of your product, company, or service in no more than 300 words. This must be a written (hardcopy) submission, typed, 12­pt. font, double spaced. A cover­sheet must identify the team’s name, the captain, the names of other team members, and the mentor’s name, including the mentor’s job title, business address, business phone, and e­mail contact information. No submissions will be accepted without the aforementioned information on the cover sheet.
  2. The deadline for submission of the written summary will be announced here. Submissions must be personally given to Mr. Kurrelmeier.
  3. Seven teams with the most attractive summaries will be selected as finalists and have the opportunity to make their presentation in Roberts Auditorium before a panel of professional entrepreneurs. Date to be announced.
  4. Finalists will have 10 minutes to make their presentation. The judges will have 3 minutes to question each team. Only team members may participate in both the presentation and the Q. & A. Signs, handouts, props, laptops, power­points, etc. may be used. Each team selects its own dress code, from either business dress or school uniform.
  5. The winning team, as determined by the judges, wins $5,000.00; second place wins $1,000.00; and third place wins $500.00.
  6. If a team loses a member, the remaining member or members may still make the presentation, but only those presenting may receive a prize or prize money. A departing team member may not be replaced. All participants must be present at the beginning of the competition and REMAIN until all teams have presented. A participant arriving late will be ineligible. A participant departing early will receive no prize or prize money.
  7. Teams will make their presentation in an order determined by a blind draw. This order cannot be changed.