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GCCI Business Plan Competition 2012

Rules and guidelines for the competition

Background

Gujarat Chamber of Commerce:
The Gujarat Chamber of Commerce Industry [GCCI] works to create and sustain an environment conducive to the growth of industry and trade in Gujarat, partnering with them through advisory processes. In its efforts to promote economic growth of the Country and the State, Gujarat Chamber of Commerce and Industry has, over the years, initiated several focused and meaningful dialogues covering various micro and macroeconomic aspects of development. A forward - looking and expanding organization, the chamber proposes to innovate its activities further so as to meet the ever changing demands of the business environment. By launching Business plan competition in the state of Gujarat, GCCI wants to create the structure and process so that innovative ideas born through these competitions are taken forward to become real businesses. To create a platform where any individual or team can post their innovative ideas and if shortlisted will avail mentoring to validate their business plan and strategy. There are no limitations on sector or discipline entries can come from science, engineering, arts, humanities and creative backgrounds. Also, social and not for profit business ideas can be submitted.

Objectives:

The objectives of the GCCI Business Plan Competition are to:

	■	Stimulate interest in entrepreneurship.
	■	Give individuals an opportunity to develop their ideas for new businesses.
	■	Give local, regional and national visibility to the entrepreneurial students, graduates & young professionals wherever possible.
	■	To expose individuals to the resources available that encourages entrepreneurship.

Knowledge Partner

VentureStudio-Centre for Innovative Business Design, Ahmedabad University.

The vision of VentureStudio is to nucleate an innovation ecosystem that accelerates the growth of scalable team-based technology ventures in Ahmedabad and its environs. In VentureStudio, we believe that without a team based approach, the chances for an innovative venture to sustain itself in a highly competitive environment are limited. VentureStudio aims to kickstart an ecosystem by nurturing high performing teams to discover deep societal needs, create technological solutions and launch innovative business ventures to address these needs. Venture founding teams are empowered with a design methodology that cuts across disciplinary boundaries of anthropology, engineering, product design, entrepreneurship and investment. The uniqueness of our approach lies in our concurrent focus on people, process, ideas, and the development of value propositions that would persuade potential investors to invest towards up-scaling a venture. This studio will promote a multi-disciplinary collaborative environment bridging disciplines - which is much needed for addressing the Indian user needs and developing products and services relevant to our context. Existing efforts in the form of entrepreneurship cells and incubators have been focusing on business case development issues rather than issues related to the understanding of user needs and generation of innovative ideas. Through VentureStudio, we would like to bring a shift by generating awareness among practitioners about the critical relationship between design, business, engineering, and technology; how it could change design values and propositions attached to the proposed innovative ideas. Figure below depicts how different disciplines will come together in VentureStudio to address Indian societal needs. Societal needs in the context of India include but are not limited to healthcare, agro-businesses, education, governance, transportation, energy, and water.

Are you eligible to enter the competition?

	■	Competition is open for participants above the age of 20 years.
	■	You can enter the competition as a team with up to four members. One person should be named as a lead entrant if entering as a team.
	■	Everything submitted to the competition must be original. The ideas, concepts, written documents, presentation, and all aspects of the submission must be original work of the team members.
	■	All references used for research data, and statistics/facts must be listed in a Reference section at the end of the business plan.
	■	Entries MUST be commercially or socially viable. In other words eligibility includes a real business idea or a business that has already been started but has been trading for less than 12 months by the entrant(s).

Evaluation Procedure

Individuals or teams can submit only one business idea. 25 semi-finalists will be selected from submitted entry forms, semi-finalists will be invited to attend a free business planning workshop and to submit a full business plan. The business plans will be sent to the judging panel which will consist of individuals from the companies supporting the competition and representatives from the local and wider business community. 10 of the semi-finalists will be selected to present their business idea and plans to the invited panel of judges in a “Pitching” session; from this the final winners will be selected.

All the finalists will be required to present their ideas to an audience of senior university personnel, business leaders and audience at an award ceremony with a guest speaker (speaker to be confirmed); the awards night will take place in the month of May’12

Key Dates

Task	Date
Launch of the GCCI business plan competition	31/12/2011
Deadline for receiving business plans	10/02/2012
Announcement of 25 semi-finalist	05/03/2012
Workshop for 25 semi-finalist to write a business plan	10/03/2012
25 semi-finalist submit a detailed business plan (maximum 15 pages)	24/03/2012
Announcement of 10 finalist	10/04/2012
Linking 10 finalist with mentor’s	Between 10th and 11th April 2012
10 finalist will re-submit their business plan after mentorship	25/04/2012
Email/post revised business plan to jurors	25/04/2012
Final pitching from the 10 finalist	30/04/2012
Final announcement as per chief guest availability	To be announced

Prizes

	■	Certificate from Gujarat Chamber of Commerce.
	■	Six month fellowship at Venture Studio.
	■	Attractive prizes

Format and Stages of the Competition

Stage one

There are four stages in the competition

	■	All entry forms must be submitted by 6.00 pm on Friday 10th February 2012
	■	Any entries received after this date will not be accepted.
	■	The entry form can be submitted by email on businessidea@gujaratchamber.org or by registered post addressing to :

Mr.Vimarsh Rana,
Gujarat Chamber of Commerce

Shri Ambica Mills - Gujarat Chamber Building,
P.O. Box No. 4045, Ashram Road,
Ahmedabad - 380 009.
INDIA

	■	Faxed copies will NOT be accepted
	■	It is important to note that you follow page restriction clause in stage one. Detailed business plan will be expected in stage two.
	■	to note that you follow page restriction clause in stage one. Detailed business plan will be expected in stage two.
	■	All questions on the entry form must be answered to the best of your ability
	■	You should carry out research so that you can give relevant answers to the questions on the entry form as this will help you in the next phase of the competition.
	■	Please don’t provide any information in the entry form which you feel is confidential.
	■	The stage one submission must NOT exceed 4 pages in length (this does not include the cover sheet) if you go over the page limit you could be disqualified.

Stage two – Workshop for writing business plan

Please note that stagee two and three of the competition are only relevant to semi-finalists

	■	The details of the 25 selected semi finalists will be displayed on the website.
	■	All semi-finalists will be required to attend workshop for writing business plan.

You must follow set headings for your business plan, these are:

	■	Cover sheet
	■	Contents page
	■	Executive summary
	■	The opportunity
	■	The product/The service
	■	The company (if you have one, or use this section to explain how you see your business idea developing into a company in the future)
	■	Management
	■	The marke
	■	Marketing strategy
	■	SWOT analysis Financial information
	■	Appendices

	■	If the above headings are NOT used you will be disqualified from the competition.
	■	The full business plan must NOT exceed 15 pages in length (this does not include the cover sheet or the appendices) if you go over the page limit you could be disqualified.
	■	You can use Arial or Calibri or Tahoma font, please do NOT use Times New Roman and font size must be 10pt.
	■	Semi finalists must submit 1 hard copy or digital copy of their full business plan, by Saturday 6.00pm 24th March’12
	■	Business plans can be submitted email or by registered post.

Stage three Pitching Session

	■	The judging panel for the semi-finalists will consist of representatives from each of the supporting companies and additional senior business professionals with strong commercial backgrounds.
	■	All entries will be treated as strictly confidential and all the judges will sign a Non Disclosure Agreement prior to viewing the business plans.
	■	This presentation will last no longer than 10 minutes.
	■	The presentations to the judges will take place during the week commencing 30th April’12
	■	All finalists MUST attend the awards night ceremony.

Stage 4 - The award ceremony

	■	The finalists MUST give a 3 minute “elevator pitch” at the ceremony to the invited audience.
	■	The awards will be organised in the month of May’12

Intellectual Property

	■	Entrants must make sure that the information in their entry form does not infringe the intellectual property of third parties.
	■	All entrants must make sure that if there are any third parties involved in their idea these third parties are informed and, if necessary, have waived any intellectual property rights. Third parties may include collaborators, colleagues, fellow students research sponsors, etc.

What the judges are looking for?

	■	The judges will be looking for a business plan with the best potential to start up a new enterprise or the further development of an existing business which will involve innovation and inventiveness.
	■	Is it a credible market opportunity?
	■	Does the plan define a clear need for the product/service?
	■	Is it a realistic approach to carry out the business idea and that there has been some thought given to commercialisation routes and strategies. Does the plan spell out clearly, how the business will make money?
	■	Does your idea addresses ethical and environmental issue???.
	■	Evidence that intellectual property issues have been considered (if applicable)? What would be the potential effects on the business idea for intellectual property owned by others?
	■	What are the personal qualities of the entrants and the degree of drive and initiative they display in their proposals? Have the gaps within the business team been recognised and addressed.
	■	A clear and well written plan

Do not fill your business plan with jargon; it should be concise and simple

Additional Information

	■	GCCI Business Plan Competition organisers reserve the right to disqualify any entrant if they do not abide by the information provided in this document.
	■	By entering the competition winners and semi-finalists agree to provide follow- on information after the competition to GCCI for any publication.
	■	No entries will be accepted after stage one and stage two competition deadlines.
	■	GCCI Business Idea Competition organisers accept no responsibility for any damage loss injury or disappointment suffered by the entrant(s) as a result of entering this competition or in the acceptance of any of the prizes.
	■	GCCI Youth Wing Business Plan Competition organisers reserve the right to amend the competition process and any dates without notice at any time.

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