The 17th edition of Start Cup Piemonte Valle d'Aosta entered its second stage three weeks ago, with the opening of the Business Plan Competition and its prize pool of more than €50,000 to aspiring entrepreneurs who submit the best Business Plans by the end of August 2021.
How to write a Business Plan
To make it easier to participate in the initiative, we have gathered some practical tips to follow in the transition from innovative idea to business project, as the latter needs several steps to be complete and effective. Check out the following infographic to learn more!
Once you have thoroughly defined the project you want to present, you need to draw up a proper Business Plan: click here to see an example of its ideal summary, for reference in the realization of the document to be submitted to the competition.
Here are some additional key points we suggest you follow to best prepare it:
Value Proposition: bring out the innovativeness of your project and everything that differentiates it from its competitors. Make sure its value proposition is great and express it clearly.
Market size: pay attention to your target market and its actual size, by conducting research to identify and assess the market needs you have assumed.
Feasibility and prospects: examine both the technical feasibility of the project and its prospects for economic growth, defining a financial requirement consistent with implementation milestones.
Entrepreneurial team: it is very important to make sure that you build a good team, made up of people with heterogeneous skills and motivated to move the project forward!
Those wishing to apply for this year's special awards and special mentions must ensure that they propose projects in line with their selection criteria and select the appropriate options during the application process on the platform. For the Jacobacci & Partners Prize, moreover, indications are available for the drafting of the specific additional document, relating to intellectual property, to be attached to the Business Plan application.
Evaluation of applications
The Business Plans presented during Stage 2 of Start Cup Piemonte Valle d'Aosta will be examined by its Evaluation Committee, composed of experts and representatives of the promoting organizations. The committee will be advised by a Jury made up of academics, entrepreneurs of consolidated experience, venture capitalists and business angels, who will evaluate the projects according to the criteria and methods indicated in the competition regulations.
The ten evaluation parameters of the innovative projects submitted to the competition are:
Evaluation of the degree of technical development achieved;
Originality of the product or service;
Target market size;
Ability to meet a market need or requirement;
Sustainability of competitive advantage;
Economic growth prospects;
Entrepreneurial team qualities and skills;
Business plan quality and comprehensivness.
What are you waiting for? Apply today!
"Qui tempus praestolatur, tempus ei deest", said the ancient Romans. Meaning: who has time, should not wait for time! If you want to take up the challenge and submit your Business Plan to the competition, don't wait until the last minute: register now as a user on the application platform, enter a project following the instructions and upload all its related documentation. Also make sure to complete the application flow by confirming your submission, without leaving incomplete drafts that will not be taken into account in the evaluation phase. The end date of this edition of the competition, September 1, 2021, is much less far away than it may seem!
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