The William James Foundation is supporting nascent entrepreneurs with socially responsible business ideas via a business plan competition. With the help of hundreds of experts, the Foundation will provide professional, detailed feedback for all qualified entrants. A multutide of both cash and in-kind prizes for many competitors enhances the potential benefits for interested would-be entrepreneurs. From the site:
The William James Foundation supports entrepreneurs who are starting for-profit businesses with defined social and/or environmental goals. We have multiple prize categories, so we are positioned to help both local community businesses and PhDs with multi-million dollar ideas for renewable energy.
We provide this support through a Socially Responsible Business Plan Competition. Entrants submit executive summaries (up to five pages) to us in June, September, or December. The next open deadline is December 4th, 2009 -- visit www.williamjamesfoundation.org/timeline for a detailed timeline. The best of those plans are invited to submit full plans in February of 2010.
Most entrants receive an average of ten pages of constructive feedback per plan per round. If we have to reject a business plans, it is usually because they are still in the rough idea phase, and there isn't enough detail in the plan for us to give feedback on. Those teams are invited to re-submit more detailed plans for the next open round.
Our feedback comes from a pool of more than 300 experts from the worlds of finance, academia, in-the-field practice, and other entrepreneurs. This is an excellent opportunity for entrepreneurs to learn from those who have successfully combined their passion for a better world with the rigor of financial sustainability.
We provide feedback in eight areas:
- How you described your of products or services, and the problems they solve
- How you are thinking about your market targets, promotion, and market testing
- Your assessment of risks, competitors, substitute products or services, and your competitive advantage
- Your timeline
- Your analysis of your cash flow needs, and the sources and uses of funds
- Your management team strengths and needs, and organizational structure
- The overall viability of your business from a financial profit point of view
- The value and feasability of your social and/or environmental goals
Over $100,000 in cash and prizes are available for applicants. The competition offers a boon for business students in particular, as a way to more fully realize exisitng ideas and projects and as a means to develop entrepreneurial skills while learning from expert professionals.
General information, including qualification criteria, found here.
Details concerning the types and amounts of prizes found here.
Judge profiles found here.
