Harvard Business School – 2012 Alumni New Venture Contest
Fact: Over half of HBS alumni classify themselves
as entrepreneurs at some point in their lives ... are you one of them?
Are you one of the more than half of HBS alumni who
see themselves as entrepreneurs? Is there a business idea you’ve been
toying with and been wanting to get off the ground? If so, this contest was
created specifically for you! The HBS Club of Brazil is proud to
announce the launch of the 2012 Alumni New Venture Contest, which is designed
to shine a spotlight on Latin America current and future entrepreneurs.
The New Venture Contest is a unique opportunity for
alumni to formalize an idea or further develop a business plan. You do
not need to be running a startup to enter the contest; a good idea and business
plan is all you need to participate. Entering the contest is a great
opportunity for start-ups to gain profile with a group of potential funders,
partners, customers and the public. Competing teams from all over Latin America
will be review by esteemed judges panel
of angel and venture capital investors and seasoned entrepreneurs. And this is
just the beginning - the winning team will represent Latin America in the grand
finals held in Boston, Massachusetts on April 23-24, 2012. The Regional
Finalists will have rare one-on-one access to Harvard Business School faculty
and receive coaching and advice on their business plans. Teams will also
compete for the $50,000 grand prize and $25,000 second prize
Contest Participant Benefits:
- Connect alumni who are
starting new companies with faculty expertise and the global HBS network
of entrepreneurs, venture capitalists and angel investors
- Gain experience
pitching to potential investors and partners
- Get feedback on your
idea and business model
- Garner press attention
for your new venture
Regional Contest Winner Benefits:
- Receive feedback from
the judging panel in a private section
- Receive feedback from
the 2011 Regional winner to gain experience to develop your business and
to pitching to potential investors and partners
- Get into the Finals in
Boston to connect alumni who are starting new companies with faculty
expertise and the global HBS network of entrepreneurs, venture capitalists
and angel investors
- Present their plans on
Monday, April 23rd to a panel of judges at HBS who will select the overall
2012 Alumni NVC winner and runner-up.
- Participate in a dinner
led by Dean Nohria for all contestants, celebrating alumni
entrepreneurship.
·
Participate in additional educational and press
sessions during their campus visit, with the winner being invited to present a
brief summary of their plan at a School-wide awards ceremony (in conjunction
with the student business and social venture contests) the following day.
- Garner press attention
for your new venture
- Grand prize winner
receives a $50,000 cash prize for the start-up, with the runner up
receiving a $25,000 cash prize
Events & Deadlines:
- Registration: February 3rd,
2012.
- There is a registration fee of $100.
- Registration will be
free for the first 5 applicants in Latin America
- To register, first require
the form to marantes@opm40.hbs.edu
- Business Plan
Submission:
February 29th, 2012
- Regional winner
announcement : In a event in March (TBD)
- Global Grand Finals: April
23-24, 2012
Resources
& More Information:
Eligibility
- Each team must have at least one HBS alumnus/a member. The HBS
alumnus/a needs to be a substantive member of the founding team, with a
senior management and operating position, and participation in the
company’s equity pool in a manner consistent with that role and position.
- Participating teams may not have more than $1,000,000 in total debt
and invested equity capital, and must have less than $2,000,000 in
revenues. Teams must meet both criteria. Invested capital is defined as
funding appearing on the plan’s balance sheet at the time of submission to
the regional Hub Club, which is no later than February 29, 2012. It is not
necessary that the teams actually be seeking funding—e.g., they may
already have raised the small amount of capital they need to reach an
initial milestone—or may have a cash flow positive business model that
essentially requires no outside capital. Note: investment funds and
acquisitions will generally not be considered as "new ventures."
- Alumni may enter the Alumni New Venture Contest or apply for the
Social Entrepreneurship Fellowship, but not both. For questions on which
to pursue, contact the Alumni New Venture Contest or the Social Enterprise
Initiative.
Evaluation criteria
- Teams/plans will be
judged on the likelihood of creating a successful, significant new
venture. If required we will provide the Evaluation Sheet for specific
criteria
Entry fees
- US$ 100
- Registration fee will
be FREE for the first 5 applicant teams.
Guidelines
for plans - All business plans should clearly articulate:
- The team members,
their roles and backgrounds;
- The product or
service, the customer needs it meets, and the market it will serve;
- The “business model,”
e.g., how the company makes money; and
- Income statement,
balance sheet and cash flow forecasts for at least three years, including
a clear articulation of funding needs, the anticipated timing of funding
events, and how these relate to the entity’s accomplishment milestones
(e.g., what exactly will you achieve with each round ofcapital funding). Financing term specifics need NOT be articulated.
Any questions, please contact: marantes@opm40.hbs.edu
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