Presentation on theme: "Urban Innovation21 Small Business Grant Competition Supporting Small Business Growth in the Innovation Economy."— Presentation transcript:
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? 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 Hill District 35 Points
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 a up to $5,000 award; 76-85 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
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 February 22 10:00 AM to 12:00 PM Class 1 – Start Up Businesses Research and Self - Assessment Writing the Business Plan The Value Proposition 12:00 PM to 2:00 PM Class 1 – Existing Businesses Defining how your market is changing Defining what’s needed to grow Assess your assumptions March 1, 2013 10:00 AM to 12:00 PM Class 2 – Start Up Businesses 12:00 PM to 2:00 PM Class 2 – Existing Businesses Marketing Strategy Managing credit Finance March 8, 2013 10:00 AM to 12:00 PM Class 3 (Hill) - Consultant team Business Start-up, Registration, Structural and Legal Considerations The Elevator Pitch Review Elevator pitch exercise 12:00 PM to 2:00 PM Class 3 – Existing Businesses Building out your operating plan Identifying strategy for key partnerships March 15, 2013/ 10:00AM to 12:00 PM Class 4 (Hill) - Consultant Team 10:00 AM – 2:00 PM Business Plan Working Sessions (Time for all participants to work on their plans and consult with