Entrepreneurship Springboard Program
To locate, educate and cultivate entrepreneurs in India
The Boston Pledge, USA
And
SIDBI Innovation and Incubation Center (SIIC), lIT Kanpur
 

Presents
Entrepreneurship Springboard Program (ESP)
2006—07
Rs. 50K Business Plan Contest

Deadlines:
Team Registration: November 31 2006
Final Plans due:  March 31 20007
Program Contacts: Inder Monga    imonga@gamil.com
                                   Chitro Neogy    chitro@mit.edu
                                   Ram Misra        siic@iitk.ac.in

Dear Candidates: Welcome to the ESP 50K competition. The competition is organized annually at different locations by The Boston Pledge (TBP), with the support of other organizations. Below is a form that will need to be completed to enter this prestigious contest. The description for each section is in italics. The entire section, except the financial projections is suggested to be 1000 words or less, not including the title headings.
In evaluating your submissions, we will be looking for strong ideas — those that solve practical problems, in society or in commercial space. But such ideas do not always arise in big cities. The best issues to work upon are those surrounding us in our daily life — problems that you are very well aware; but now we’re asking you to find a solution to such challenges.
Note that electronic versions of the Team registrations and Business Plan in the Word or PDF format are preferred for submission. For Team registrations and electronic business plan submissions please email to:

esp2006@bostonpledge.org
However if not possible, you can write your business plan on paper and mail the completed entry to:
The Boston Pledge
70 Pope Road
Acton MA 01720, USA
Attn: ESP 50K Contest
OR
SIDBI Innovation and incubation
Next to Wind Tunnel Facility
l.l.T. Kanpur 208016
Attn: ESP 50K Contest 

The key goal of ESP is to create enterprises and new jobs. The top winners will receive financial awards, ranging from Rs 30,000 to Rs 50,000 and may be invited to accept the awards at a major conference in USA, an excellent networking opportunity. Some winners will receive mentorship from business leaders and access to their networks. To receive the full award, you must be willing to launch the proposed business within six months of the award ceremony or have an ongoing concern in the same line of business as represented in your business plan. Otherwise, a portion of the award will be held in escrow for a maximum three years. We may conduct a separate interview to better evaluate the business logic and your organizational capabilities. You may also be asked to show proof of “original ideas” or prior expertise on a subject.
TBP and ESP personnel respect your ideas and sign a Non-Disclosure Agreement to protect the confidentiality of your intellectual business properties or proprietary ideas. It is completely up to you regarding what information to disclose in the plan. However, TBP reserves the right to use part of the 50K submissions purely as educational material for the business workshops, without mentioning any classified information or exact company names, to protect your identity. By participating in ESPI you agree to not hold TBP liable for such use of information.
We wish you our best in the development of your business plan and hope to see you in one of the workshops as well as the award ceremonies. Please follow the format shown in the section below and be aware of the evaluation criteria attached. Above all, we want you to succeed in your entrepreneurship activity and this exercise will improve your chances, regardless of the competition results. Good Luck!
Your friends at Entrepreneurship Springboard Program
The Boston Pledge
www.bostonpledge.org
September, 2006
For program details or clarifications, please contact:
ESP Program Directors, Kanpur:  
Chitro Neogy (chitro@mit.edu)
Inder Monga  (imonga@gmail.com)

ESP 50K Team Registration Submission Form

1. Team Name
This is the team name that will be seen by the public, including the judges.
2. Primary Industry
Please indicate which category you believe best describes your business. For example, this could be Information Technology, Life Sciences, Automobile Industry, Retail Services, Telecommunications, Energy etc.
Please register your team at the earliest by emailing esø2QO6@bostonplecige. org with the following information or mailing a letter at one of the above addresses.
3. Public Summary (optional)
This field will be seen by the public. Do not disclose any proprietary in formation or technology.
80 word limit.
4. Primary Contact Person
Please indicate the address, phone number and email address of the primary contact person
that the ESP committee should be in touch with for any updates regarding the program.

ESP 50K Business Plan Submission Form

Team Name This is the team name that will be seen by the public, including the judges.

Primary Industry Please indicate which category you believe best describes your business. For example, this could be Information Technology, Life Sciences, Automobile industry, Retail Services, Telecommunications, Energy etc.

Public Summary This field will be seen by the public. Do not disclose any proprietary information or technology.
80 word limit.
Business Concept What, precisely, is the product or service that you are trying to sell?
What problem does your product or service solve? What types of people or companies suffer from this problem? What is the technology behind your product? Is your business model different from the industry standard? Include whatever field results or tests you have conducted so far and clearly state the benefit to all involved parties.

Sales and Marketing How big is the addressable market? How many customers? Who, specifically, will you sell to? Why will they buy? How do you position your product in the market? How do you divide up your target niche and execute to win in each? How do you make money and what is our target pricing? What is the possible total revenue? What is your overall sales strategy — i.e. will you sell directly through your team, seek help from others, and if so, whom?

Competitive Advantage Who is your competition? How long have they been in business? What are their revenue and growth projections? What alternative products or services already exist in the marketplace? Why are your idea and team better than the competition? What stops other people from copying you? Specifically state if there are patents or contracts that you have or are filing for to protect your inventions or business model.

Financial Plan Explain in more detail the assumptions used for revenue and expense projections. When does cash flow become positive? How much money are you planning to raise? When? What will you use it for? Where will you source the capital? Please provide a table showing revenue, customer and profit margin breakdown over the next 12 quarters.

Management Team Include a brief CV (four lines maximum) of each team member and the role that she/he will play in the venture.
Advisory Board A board of advisors in an early-stage company conveys the image of strong management and a good governance structure that can help to build relationships with potential investors, business partners and, customers. Please include, with a brief 3 line resume of each advisor if you have such a board.

Contact Information Please provide your full contact details.

Full Name.

Postal Address:

Telephone 1:

Telephone 2:

Email (primary):

Email (secondary)

Your Primary Profession:

If necessary, do you have the financial resources to come to attend an award ceremony in USA?
Do you have a passport for travel?
What are your passions? What interests you the most?
What are your current funding needs and what are your plans to secure such funding?
Do you promise to launch a real company if you were an ESP winner or received help from our organization?

Note: The full awards will only be given to those who will or have already started the business initiative.