Urban Innovation21 Small Business Grant Competition Supporting Small Business Growth in the Innovation Economy

Purpose of Grant Competition 2  Increase minority enterprise ownership;  Create new jobs;  Create enterprises that contribute to the innovation economy eco-system;  Improve community’s quality of life.

Purpose of Info Sessions: 3  To assist you in preparing a business plan summary;  To assist you in making your business case;  Assist you in completing and meeting competition application requirements; (Technical Assistance 6 Hours)

Judging Criteria 4 Does submission meet grant intent? - 35 Points  Is it an opportunity for wealth creation or protection?  Is the opportunity to grow or start a business?  Does the proposed business create new jobs?  Do residents gain access to education or training they need to get ahead?  Verify Benefits to Homewood

Judging Criteria 5  Marketing strategy - 20 Points  Is the marketing strategy clear and credible?  Operations plan & management - 20 Points  Does the operating plan support marketing and business goals?  Financial Plan - 25 Points  Do the numbers support your business case?

Scoring Guidelines: 6  Fewer than 51 points: Proposal not considered;  65 to 75 points application can be considered for up to $5,000 award;  points application can be considered for up to $7,500 award.  85 to 100 points application can be considered for up to $10,000 award.  51or above: Application can be considered for zero interest loan award

Questions and Answers 7

Business Logic 8  Make your business case:  What do you sell? And to whom?  Marketing Strategy  How do you meet customer needs?  Operations Plan  Will you make any money?  Financial Plan

Business Plan Summary 9  Follow format;  Business details;  Business description up to 120 words;  Management experience up to 120 words;  Markets up to 120 words;  Financial chart;  Funding request amount / grants or loans, both;

Business Plan Summary 10  Marketing Strategy up to 120 words;  Sales and promotions up to 120 words;  Operations strategy up to 240 words;  Capitalization and finance up 120 words;

Elevator Speech 11 The elevator speech is a 60 second presentation about your business, it is your introduction.  Who am I?  What is my business offering?  What problem is being solved?  How big is the problem? (How big is the market?)  What should the listener do as result of hearing your pitch?

The Workshops 12 March 8, :00 AM to 12:00 PM Class 1 – Start Up Businesses – Homewood Coliseum  Research and Self - Assessment  Writing the Business Plan  The Value Proposition 10:00 AM to 12:00 PM Class 1 – Existing Businesses – Faison Elementary School  Defining how your market is changing  Defining what’s needed to grow  Assess your assumptions March 15, :00 AM to 12:00 PM Class 2 – Start Up Businesses – Homewood Coliseum 10:00 AM to 12:00 PM Class 2 – Existing Businesses – Faison Elementary School  Marketing Strategy  Managing credit  Finance March 22, :00 AM to 12:00 PM Class 3 - Start Up Businesses – Homewood Coliseum  Business Start-up, Registration, Structural and Legal Considerations  The Elevator Pitch Review  Elevator pitch exercise 10:00 AM to 12:00 PM Class 3 – Existing Businesses – Faison Elementary School  Building out your operating plan  Identifying strategy for key partnerships March 29, 2014/ 10:00AM to 12:00 PM Class 4 – Start Up Businesses – Homewood Coliseum Existing Businesses – Faison Elementary School 10:00 AM – 2:00 PM Business Plan Working Sessions (Time for all participants to work on their plans and consult with coaches) PLANS AND APPLICATIONS DUE: April 5, 2014

Questions and Answers 13