What is an Executive Summary?

Every business plan begins with an executive summary -- a short compelling presentation of the key ideas of the
plan. The executive summary should function as a stand-alone document.

To help you focus while writing an executive summary (as well as the business plan), listed below are the key areas
that should be addressed:

1. Opportunity Statement:
How would you describe the business to a potential investor or team member if you only had a short
elevator ride to share together? What is the nature of the opportunity, and why is here an opportunity now?
What is the proposed solution?
2. Product Innovation or Service Concept:
Develop a brief concept statement for the product or service that can be shown to potential customers. How
will the product be used? What are some unique features?
3. Market Opportunity and Strategy:
What existing problem will you solve with your service or product offering? What is the current size and
expected growth of your target market? What are the economics of the market? What does it take to win
this market? How will these sales happen? Who will your first customers be? What level of profits do you
expect?
4. Competitive Advantage:
Who are your competitors? What special knowledge or technology do you possess and how will you
protect it? What are the barriers to entry?
5. Management Team:
Who are you and why can you do this? Include a brief summary of management team's background.If the
full team has not been assembled, include a brief description of the background and skills of team members
that you desire to recruit.

What is a Business Plan?

A business plan is a comprehensive, self-contained document  that

I. Presents in detail the business opportunity for a new venture   

II. Presents the product or service that the venture is to offer to realize  this opportunity
III. Identifies the resources needed 
IV. Exposes the risks and rewards expected 
V. Introduces the founding team and proposes the organizational building process

Potential audiences for a business plan include future investors, employees, partners, advisors, customers, suppliers,
regulatory bodies and other individuals who may not be technologically savvy or familiar with the subject of the
business plan. The quality of the write-up is a significant success factor.

How will the evaluation take place for Students?

Panelists will evaluate and review the executive summaries and business plans. All decisions of the panel are final.

Panelist will be asked to evaluate the plans based upon the likelihood of the plans to become the basis of an actual
viable business, the potential financial returns the business can provide and on the basis of the oral and written
presentation. This consideration will in turn, include such factors as creativity and innovation embodied in the basic
opportunity definition and business concept, a well thought out strategy, technological innovation, reasonable
financial analysis, and the ability to execute the plan.
The following questions provide general evaluation criteria that are likely to be used by the panel for evaluating the
business opportunity.

1. Is the business opportunity as presented both highly attractive and clearly realistic?
2. What is the Competitive Advantage?
3. What is the business model (i.e. how is he going to make money?)
4. What comparisons to past success stories indicate that this venture will succeed?
5. What is the amount of up-front capital investment required?
6. Do the market and financial projections demonstrate that the nominee understands his business?
7. How long will it take from the current stage of development to bring this product/service to market?
8. Can this venture achieve a leadership position in its market?
9. Has the nominee gone out to the market already to test the idea (i.e. met its customers, made first sales)?
10. Who will be the customers?
11. Does the nominee have sufficient passion and drive to make his idea happen?
12. Is the nominee focused on the target market?
13. What is the expected time and amount of pay-off to investors?
14. Is the plan clear and well written?
15. Does the nominee have the necessary communications skills to present a compelling story?
16. Does the nominee have a clear plan for spending the investment it receives?
17. Why is this business going to be around and a real world winner in 5 years?

How will the evaluation take place for Institutes ?

Nomination should include an Executive Summary not more than 2500 words highlighting the
Innovative practices  and methodology implemented by the institute and its impact on shaping
the future of students.

The number of Innovative Ideas received from the students will also be considered as part of the evaluation process

Intellectual Property
Big Idea Start-up Challenge 2010 entries must be the original work of the nominees. Big Idea Start-up
Challenge 2010 shall not be held responsible for any intellectual property violation by the nominees. All entries
submitted will remain the intellectual property of the nominees and Big Idea Start-up Challenge 2010 will ensure
confidentiality of the same.

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