Stage I: Preliminary Stage Submission Format (Submission Deadline: April 30, 2015)
Macro Level Business Plan
1. Idea Summary (up to 500 words)
· Written concept summary covering the background of the problem being addressed, and describing the innovative solution resulting in new approach, product, service, or venture in the direction of the identified themes. Specific attention should be focused on:
o Rationale behind choice of the idea
o Uniqueness and innovativeness of the idea
o Societal impact of the idea
2. Idea Generation
· Basic analysis of the idea: Strengths, Weaknesses, Opportunities & Risks.
· Market and consumer trend analysis of the idea (supported by statistical data and figures regarding the stated consumer behavior, competitors existing in the market (stating company name and product(s) and how your product is different from existing product(s))
3. Idea Screening
· How will the customer in the target market benefit from the product?
· How is it technically feasible to manufacture the product (mention the technical availability of all the constituents which form the product to be marketed)?
· How will the product be profitable when manufactured and delivered to the customer at the target price?
4. Concept Development
· What product features does the product incorporate (mention clearly each feature, including detailed specifications and functionality)?
· What benefits will the product provide (mention features not pre-existing in the market and how the new product solves problems faced by the consumers)?
· Prototype development requirements
· Detailed cost analysis (cost break-up of production / procurement of each component required in developing the prototype and the product)
· How is your product cost effective (comparative study with existing products)?
· New business ideas, development practices and challenges that need to be overcome, Intellectual Property / Patenting issues research
5. 2D / 3D visualization charts of the product.
6. Form factor of the product.
7. Timeline (PERT Chart) of the product
8. Testing criteria of the product.
9. Need(s) for testing.
10. Design cycle of the product.
Stage II: Final Stage Submission Format (Submission Deadline: to be notified later)
Micro Level Business Plan
1. Executive summary (1 – 2 pages)
2. Business vision, mission and goal
3. Product /service description
4. Assumptions (including market & competition analysis)
5. Sketches & drawings of the prototype
6. Strategic plan
7. Business process (operating plan)
8. Organizational structure (including results management)
9. Financial aspects & plan (including cash flows)
10. Immediate action plan (3 – 6 months)
11. Revenue generation
12. Identify sources of revenue
13. Financial & technology sustainability of the business model
14. Prototype or proof of concept
15. SWOT Analysis (Strengths, weakness, opportunities & threat analysis of product)
16. Man power requirements with justification
17. Budget details with justification
18. Timelines with justification
19. Estimate of number of people to be impacted after commercialization of product. 20. Networking
21. Commercialization plan