Phase II: Competitive
In Phase II, each team submits a more detailed business overview of 2,000 words or less. The business overview focuses on developing a more thorough understanding of the relevant issues the business will face. Some of these include competitive strengths, barriers to entry and high level financial projections. These and other key questions must be answered as you develop a more detailed plan including information about operations and management. This is the first competitive phase and participation is necessary to be considered as a potential prizewinner. Phase II is open to all students.
Benefits of Participating
Teams who enter Phase II will receive the following benefits:
- Written feedback from multiple judges that you can incorporate into your business plan.
- Eligibility to sign up for appointments with mentors from the entrepreneurial business community (venture capitalists, angel investors, entrepreneurs, attorneys, etc.).
- The top 25 teams will be named semi-finalists and invited to participate in Phase III.
Start of Submissions
No submissions for Phase II will be accepted before 2:00pm (EST) on January 9th, 2013.
Registration will close at 2:00pm (EST) Friday, January 25, 2013. Following this date, new teams may no longer register to become new participants in the Competition.
Submissions must be uploaded by 2:00pm (EST) Friday, January 25, 2013.
What to Submit for Phase II
Submit a business overview of no more than 2,000 words. The business overview should build upon the business concept from Phase I. Please refer to the Business Overview Template which indicates key items that must be addressed in the business overview, including:
- Target market
- Proposed product/service
- Competitive landscape
- Plan for execution
- Risk analysis
- Financial statement
For a more thorough understanding of how your team's business concept will be assessed, please review the list of Phase II questions for judges. This is a list of questions that judges are asked while reviewing each business overview.
Please note that this submission is not yet a full business plan. Rather, it is an opportunity to focus on the product, the market and the competition. The 2,000-word limit will be fully enforced with possible disqualification for those who do not comply. OPTIONAL: You may also include up to two pages of exhibits beyond the 2,000-word limit; this limit will also be fully enforced.
Judges will have no knowledge of or access to any Phase I entries. Phase II entries should be able to stand alone and should contain all relevant information from the Phase I submission.
No team members names should appear anywhere on your submission to the Wharton Business Plan Competition. This allows us to ensure impartiality in the judging process; this rule will be fully enforced with possible disqualification for those who do not comply.
How to Submit
Once your team has registered for the competition, your team is able to login from the BPC Home Page , update the team membership, submit a business concept, overview or plan, and receive feedback.
Only Adobe Acrobat files may be submitted. All workstations in Huntsman Hall have Adobe Acrobat Writer installed and available to you if you are a Wharton student. If you have any difficulty creating a pdf file, please contact one of the committee members or Penn Tech Support.
Judges are asked to read the submitted plan and to answer the questions listed in the questions for judges file. The judges will rank plans accordingly.
Feedback from judges on the business overview will be released and the 25 semi-finalists announced in mid-February.