With a mission to provide students with practical business development and entrepreneurial experiences essential for their success in future careers and endeavors, Iowa State University’s Agricultural Entrepreneurship Initiative (AgEI) has developed the Agricultural Innovation Business Plan Competition. This competition invites undergraduate and graduate students from the Midwest to develop new business ideas into investment-ready business plans. This competition is made possible through the support of Stine Seed Company and Summit Group.
To provide undergraduate and graduate students with a platform to which they can develop and share their entrepreneurial business venture ideas. This competition with allow participants the opportunity to learn written and oral presentation skills, build their entrepreneurial network, and motivate them to create feasible businesses which will contribute to the betterment of the agriculture industry. Three grand prizes in the amount of $5,000 will be awarded to the top teams in the competition.ELIGIBILITY:
• Full or part-time undergraduate or graduate students registered during the fall semester at any of the following institutions:
Iowa State University, Colorado State University, Illinois State University, University of Illinois, Kansas State University, Michigan State University, University of Missouri, Oklahoma State University, Purdue University, South Dakota State University, The Ohio State University, University of Minnesota, University of Nebraska – Lincoln, University of Wisconsin – Madison, University of Wisconsin – Platteville
• Business plans must be for start-up business only (not existing ventures). • Teams must consist of at least one team member with no more than five students per team. • All participating students must be enrolled full or part-time at their respective universities. Note: December 2014 graduates are eligible to compete if part of the initial team during the Fall 2014 semester. • Students may only be a part of one competing team. • Plans must be submitted by the student teams. Academic advisors are not allowed to submit any materials for the teams. • Contest judges may not advise teams in any way.
BUSINESS PLAN REQUIREMENTS
• Proposed ideas should be feasible and suitable for funding to some degree. • If the contest facilitators or judges feel as though intellectual property rights have been violated,the team in violation will be disqualified immediately. • If the utilization of university intellectual property occurs, teams are responsible for following the respective university’s intellectual property guidelines. Indication of the correct use of these rights needs to be documented in the written business proposal. • Business ventures that have received venture capital funding may not participate in the competition. • Ideas must be appropriate for a university-sanctioned event. If the contest facilitators or judges feel that a business plan does not live up to these ideals, disqualification will occur.
Nov. 15, 2014: Intent to Compete Form: Available HERE
Dec. 15, 2014: Application, Terms & Conditions Agreement, & Business Plan due including - 1) Application Form 2) Business Plan (3-5 page executive summary) a. Executive Summary b. Description of how $5,000 will be spent 3) Signed Agreement Form
Jan. 6, 2015: Finals Competition at Iowa State University – Top 6 Teams
Jan. 7, 2015: Business Plan Showcase at the Entrepreneurial Agribusiness Executive Conference (Top 3 Teams)