Competition rules & key dates

 

Eligibility:

In order to be eligible for the prize, the applicant must meet the following criteria:

  • At least 51% woman-owned business;
  • The Applicant must be over 18 years old;
  • Applicant agrees to abide by the Contest Rules as detailed below;
  • Applicant’s Business must be registered with the State of Florida and Applicant must have a Federal EIN.

A non-refundable $50 check must be included. The Applicant’s check must be submitted with the completed Intent to Compete form.

Company name must be added to all file names before uploading (Example: YourCompanyName_BusinessPlanApplication).

 

Award Categories:

Two prize packages will be awarded. Criteria for Established and Emerging Business Categories:

  • Established:  Must be in business a minimum of 2 years with at least 2 employees including the owner with revenues of a minimum of $200,000 and ready to invest in your business growth
  • Emerging: Must have valid State of Florida registration with EIN number- Business must be product or service that has the ability to scale and grow with market potential identified

Competition OVerview

Applicant must register for the Competition by submitting an Intent to Compete form by September 19, 2016. All business plan entries must be received on or before October 10, 2016; entries must include the Application Parts I, II, and III and the Financial Summary. The application templates may NOT be modified. The judges will notify finalists on or before October 7, 2016. Finalists will be interviewed by the panel of judges on October 24, 2016. Finalists will prepare PowerPoint slides for their live 5 minute presentations at the Awards Luncheon Event on November 10, 2016. The winners will be announced at the end of the awards event. The judges will rate each applicant using pre-determined ranking criteria, including but not limited to: the viability and investment appeal of the Applicant’s Business Plan; and the quality of the written plan and all of its components.

Key Dates:

August 24, 2016 - Business Plan Writing and Financials Workshop.

September 19, 2016 - Intent to Compete Form Due.

October 10, 2016 - Application (parts I, II, III), financial worksheets, certification form, headshot and bio are due.

October 17, 2016 - Six finalists announced

October 24, 2016 - Finalists interviewed by judges. Finalists must be available in-person on this date.

November 10, 2016 - Business Plan Competition awards event at the Orlando Country Club. Final presentations and winners will be announced.

Scoring Criteria:

  • 40% Overall quality of the written business plan
  • 45% Individual interviews with Judging Committee
  • 15% Final Presentation at the Luncheon event 

Awards:

2 Winners (one from Emerging category and one from Established category)

  • An advisory team made up of experienced entrepreneurs and community leaders
  • Six months (2 hrs. per month) of CFO Consulting (courtesy of Nperspective)
  • Two Southwest roundtrip airline tickets
  • Recognition at NAWBO Orlando events

All services and cash will be distributed within one year of award.  NAWBO Orlando will determine the amounts of the awards and reserves the right to change the awards at any time.  NAWBO Orlando also has the right to cancel the awards if, at its sole discretion, it determines that there is not a suitable entrant or the winner has violated the contest rules.  If there are less than 3 applications in a category, NAWBO reserves the right to not grant an award in that category. The distribution schedule will be determined by NAWBO Orlando and participating sponsors.

Cash awards and in-kind services are subject to change based on sponsor participation. The awards and in-kind services are non-transferable. There may be no cash or other substitutions of prizes by winner. NAWBO Orlando reserves the right to substitute similar prizes of equal or greater value in the event the above prize is unavailable for any reason. Individual winner is solely responsible for all applicable federal, state and local taxes with respect to entire prize package. Note: For cash award - payouts will be made no later than January 2017

4 remaining finalists at end of competition will all receive the following prizes:

  • Six months (2 hrs. per month) of CFO Consulting (courtesy of Nperspective)
  • Recognition at NAWBO Orlando events

Participation:

Winners must participate in NAWBO Orlando events.  Generally, attendance at one NAWBO Orlando event per month will be required with two excused absences during the course of the year. Winners must also prepare for and participate in at least one advisory session per quarter. Winners will be required to allow NAWBO Orlando to use their business as a success story and publish the news about the business in various publications and social media venues with periodical updates explaining the success of the business through the mentoring of NAWBO Orlando and its advisors. Awards will not be released until NAWBO Orlando receives fully executed copies of all required Forms and other documents necessary to make available components of the prize. Failure of winners to return the Forms and other documents within the timeframe set by NAWBO will result in automatic forfeiture of any prizes and all such prizes may be awarded to an alternate winner. Prior to declaring a forfeiture, NAWBO will notify the winner, at the e-mail and phone specified in the Intent to Compete Form, of what requirements have not be fulfilled and will give the winner five days from the date of the notice in which to complete the necessary forms.  If the forms are not received in that period, NAWBO Orlando may at any time thereafter declare a forfeit of the prize and select an alternate winner.

 

Competition Rules

Originality of Plan:

The ideas and concepts set forth in the business plan (the “Plan”) are the original work of the Applicant and neither the Applicant nor any of the Applicant’s owners, officers or employees are under any agreement or restrictions that prohibit or restrict their ability to disclose or submit such ideas or concepts to the Competition.

Modification of Rules:

NAWBO Orlando reserves the right to modify the Rules at any time by amending these Rules’ website or by giving notice to applicant if the Applicant has already submitted an Intent to Compete form.

Ownership:

The Applicant understands and agrees that the Applicant owns the rights to its ideas; however, the Applicant must properly acknowledge any trademarks or copyrighted materials of others that are incorporated into the Applicant’s materials. The Applicant is responsible for obtaining any necessary permission(s) before incorporating such materials into its competition materials.  Once materials are submitted, the Applicant: (a) irrevocably grants NAWBO Orlando the unconditional, perpetual and non-exclusive right and permission to reproduce, store, copy, transmit, publish, post, broadcast, display, adapt, modify, create derivative works of, exhibit, or otherwise use the Applicant’s name and Business Plan in any media throughout the world for any purpose without limitation, and without additional review, compensation, or approval from the Applicant or any other party. Submission of an idea to the Competition is considered a public disclosure of the idea. Obtaining patent trademark and copyright clearance as necessary for your Business Plan will be the sole responsibility of the Applicant. Regarding the Applicant’s own ideas and proprietary material, the Applicant may wish to retain legal representation for consultation on issues regarding patent, trademark and/or copyright as it relates to the Applicant’s business. NAWBO Orlando will not be held responsible for any patent, trademark and/or copyright issues whatsoever regarding the Applicant’s own ideas and proprietary material or that of others.

Waivers and Releases:

The Applicant understands that National Association Of Women Business Owners – Central Florida Chapter, Inc. (dba NAWBO Orlando), along with NAWBO Orlando Foundation, Inc., the Judges, as well as any and all of the former’s successors, assigns, promotional agents, co-sponsors, insurers, principals, representatives, affiliates, franchisors, subsidiaries, participants, officers, directors, agents, shareholders, independent contractors, managers, supervisors, employees and agents (collectively the “Releasees”), are under no obligation to provide any advice or service to the Applicant. The Applicant further understands that the Judges are volunteers and are under no obligation to provide any advice or service to any Applicant. The views expressed by the Releasees are their own and not those of any other person or entity. The Releasees are held harmless by Applicant, its owners, officers, employees and agents and shall not be subject to any action arising from Applicant’s participation in this Competition. Applicant also understands and agrees that the legal protection of the Plan submitted by Applicant to the Competition is the sole responsibility of the Applicant. Applicant understands the Deadline for submission of the Intent to Compete form is September 19, 2016 and the completed application (Part I, II and III), Financial Worksheets, Certification Form, Headshot and Bio must be received by NAWBO Orlando on or before October 10, 2016. Six semi-Finalists will be notified by Oct. 7th and interviewed by the panel of judges on October 24, 2016. Finalists will give their final presentations at the awards luncheon to be held on November 10, 2016. Finalists MUST be available on the dates listed.  Releasees are not responsible for illegible, lost, delayed or misdirected mail, errors in faxes or shipments, busy phone signals, or incomplete entries. In consideration of the time, expertise, and other resources provided by Competition officials, including Judges and organizers, and their representatives, the Applicant hereby voluntarily releases each Competition official and their representatives from any further liabilities, responsibilities, and accountabilities relating to or arising out of such Releasees’ participation in the Competition. The Applicant, its owners, officers, employees and agents, grant permission to NAWBO Orlando to publicize their name(s) and a description of their business plan for marketing or other purposes.

 

Please submit any questions regarding the Business Plan Competition using the form below - Thank you!

 
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