An Executive Summary document should contain no more than 2000 words. The
document must be submitted as a hardcopy as well as via email according to the
Document Submission Format described in the Rules and Regulations.
Success Factors
- Substantial Market
– revenue and growth potential should be substantial
- High Growth Rate – a
rapidly growing market and sales
- Strong Management Team –
the entrepreneurs should portray both passion and knowledge for their product
or service.
- Competitive Advantage
–
the company’s product should possess a distinct advantage over your
competitors.
- Development Strategy – the
plan should show an understanding of common pitfalls for new ventures in your
industry and creative solutions for overcoming these pitfalls.
- Proof of concept – if the
new venture involves a new idea indicate the level of development current
development in the area.
- Technology
- The
Competition judges recognize that technology is a key component of any high
growth new venture. “Technology” encompasses a broad range of disciplines from
science and engineering to IT and novel market strategies.
Suggested Content
for Executive Summary
Following is a template for an Executive Summary and is in no way a map that
needs to be followed. It has been adapted from a Business Plan Competition held
at Case Western Reserve University, U.S.A. Many of the Topics/Questions may not
be applicable to the teams Business Venture. Contrarily, there may be other
topics that may be more appropriate and we encourage the team to include these
in your Executive Summary. Please use your discretion when following the
Guidelines.
Company Name
- Address
- Contact Person and Title
- Phone
- E-mail
- Web Site URL, if applicable
Introduction and Current Status
- A brief description of your product
or service and target market
- When, where, and how the company or
the business team was established
- Current status including funding to
date, if any
Definition of the Problem
- What is the problem being solved?
- How important is it to
users/potential customers over the next two to three years?
- What is the road map to build the
business?
- Who are the customers and what are
their demographics?
- What are the customers’ true needs?
Market Opportunity
- What is the size of the market from
today to five years out?
- What is the timing of market
development?
- What are the key drivers of the
market?
- What are the dependencies or
linkages of this market developing to other markets, businesses or the
government?
- What are the supply and
distribution channels and who controls them?
- Has the market been validated by a
real customer or partner?
- What is the marketing and sales
strategy?
Competitive Analysis
- Who are the major competitors?
- What is your advantage over these
competitors and the competitive products/services?
- Is there a window of high margin
operations?
- For this market segment what are
the business models of key players who have been successful?
Management Team
- Who are the key management
personnel?
- What is their track record?
- How well connected are the
entrepreneurs to their industry, financial community, and service providers?
- How will you round out the
management team if all the key members are not yet identified?
Proof of Concept
- How unique is the product/service?
- Are there any patentable processes?
- What is the current status of
product/service development?
- When is the proposed “finish” date
of development?
- How will the products be test
marketed prior to full-scale production?
Financial Analysis
- Summarize projections for revenue,
cost and return on investment projections
- Describe funding required to
achieve the next milestones or the next level of risk reduction
Bibliography
- Cite publications, websites and
books that have been used as research for the business venture
- Citations should also include
documentation guidelines, templates, or sample plans that have been referred
to.
