BASES 150k Challenge

Enter 150k Challenge

Applications open January 23rd

Deadline: February 5, 2012 at 11:59 PM PST

How Do I Enter the E-Challenge and/or Social E-Challenge?

To enter the competitions, submit an Executive Summary of your business idea. The Executive Summary is a short and easy summary of your idea. Experts from the industry and venture capitalists will judge the executive summary.

Please observe the following guidelines before submitting the executive summary:

Recommended preferred length is 1-2 pages including appendices and exhibits. The judges will not read more than 2 pages.
Recommended font type: 11-12 pt Times New Roman double spaced.
Submit the document in Word or Adobe PDF formats
Executive summaries must be submitted electronically prior to the deadline stated above.
File names should follow the format: echallenge_teamname. For example: echallenge_myCompany.

What Should I include in the Executive Summary?

We suggest addressing all or most of the following points in the executive summary. While not all points may be applicable in your specific case, try to address those that you believe are relevant. Please also pay attention to the scope, quality of content, and presentation of the executive summary.

1. Concept

What exactly is the product or service of the proposed business?
What are the problem & need of the market, solution, and opportunity proposed?
Lead with the most compelling summary of your idea and be direct and specific.
Is it unique? What are the main benefits?

2. Customers

Who are the potential customers of your business?
What is the size of the addressable market?
Why will they buy?

3. Marketing

How will you to reach your target customers?
How will you advertise or distribute your product?

4. Competition

Who are the competitors of your business?
What is your main advantage compared to them?
Why hasn't somebody done this before or what is different about your product compared to industry standard? What do customers use now instead of your product or service?
What stops others from copying you?

5. Business And Financial Model

What is the proposed business model and how is your business going to make money?
What are the high-level projections for the revenue and cost?
How much money do you need, when, and what for?
When will it be cash flow positive?

6. Risk factors

What are one or two major risks that can influence your business?
How would you react if these risks occur?

7. Team

List team members and their short bio/main area of expertise.
Does your team have all the skills it needs to run the business.

Examples

Here's an example of an E-Challenge Executive Summary: CourseRank Executive Summary

Here's an example of a Social E-Challenge Executive Summary: Avanti Fellows Executive Summary

Product Showcase

The philosophy behind the Product Showcase event is very hands-on. While participants of the other two BASES challenges will present business plans, Product Showcase contestants will simply demonstrate their prototype, much like at a science fair. Industry experts as well as Stanford Professors will judge the entries, and the winner will be announced at the end of the day!