CONNECT
with people across academia, industry, and government as well as experienced mentors both here and abroad.
CREATE
teams with the right mix of skills who will be trained to write, refine and pitch strong business plans to industry experts and venture capitalists.
CATALYZE
the building technology- and innovation- based businesses by providing support from the PESO network even after the competition is over.
Business Concept
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Entrepreneurship begins with an idea that upon reflection can be converted into a valuable opportunity.
This summary of your business opportunity and concept should give the reader a quick and complete idea of the problem the new venture is solving and how the new venture will act to solve it.
Teams whose concept summaries are accepted will be notified to proceed with writing the more comprehensive business plans, on which basis the awards will be determined.
Eligibility Criteria – The business idea/concept should involve a sufficiently new technology and/or business model (refer to entry eligibility chart) for a new start-up or for an operating enterprise established no more than one year before submission of entries.
The entry should fall within any of these industry categories:
- IT/Telecom
- Agriculture and Aquaculture
- Life and Biosciences
- Energy
- Environment
The following topics should be discussed and completed. Bullets can be used in order to be concise and to the point.
Business Concept Statement - This is a one-sentence public statement of what your business is seeking to accomplish.
Opportunity - Explain the problem or need and identify the customer in terms of income bracket, location, where/how they buy, age/gender/education and other demographics. What is the proposed solution and the uniqueness of the solution? Why will the customer pay for the solution? What is your value proposition?
Product/Service - This is an outline of the specific product or service you will be selling and how you are going to go about designing or developing it. This should also respond to the following:
- What is the estimated cost of your unique product or service?
- What is your competition, how you are different and what types of technology or strategy will you utilize in launching or differentiating your business?
- What is your sustainable competitive advantage? What will stop other competitors from entering your market and how will you be better than everyone else in the market?
Business Model
- What is your business model? What is your income source and how are you compensated for your product/service? What is the scope of your product activities? What activities do you do, what do you outsource?
- How does your firm capture some of the total value from profit? How will the firm protect this profitability?
Technology/Innovation - This is an outline of the technology or business innovation behind your idea, whichever is applicable. Alternately, how is the technology or innovation employed to establish your value proposition, differentiation and/or competitive advantage?
Markets - This area describes your marketing approach.
- Describe the channels you will utilize in terms of where the product will be sold and how (i.e. will you have a direct sales force or sell by catalog, online, business to business, etc) you will make your customers aware of you.
- Describe your pricing strategy (i.e. is this a premium product that is priced high or is it something we might be able to purchase at Price-mart?)
- Describe any other factors that might need to be considered and/or are integral to your ability to sell the product.
Submission Format
- No pictures and no appendices; only tables are allowed.
- MS Word 2000 or higher (.DOC)
- File size < 500 kb
- Page size: “letter”
- Margins: 1” all around
- Font: Times New Roman – 12
- Maximum 3 pages
- File name: PESO-DAVAO [your teamname here].doc
- First page of business concept will be formatted as follows:
- TITLE (all caps, bold)
- Names (italics) (mandatory member designations are identified: student; tech member; management/business member)
- Heading (bold)
- Body text (normal)
- Certification: “By submitting this business concept, we certify that we meet all the team eligibility requirements.”
- Should a virus be detected on any submitted file, it will be automatically deleted.
How to Submit:
- NOTE: before submitting a business concept make sure your team has already registered online.
- 1) Make sure that your business concept document is named in the "PESO-DAVAO [your teamname here].doc" format.
- 2) Send an e-mail with "PESO Business Concept-your team name" in the subject heading and include your business concept document as an email attachment to: pesodavao@gmail.com