Click Here to view the official rules for entry.

What are the key dates in the Challenge?

December 14, 2004	Business Plan Challenge Kickoff Event
January - July 2005	Time for plan-writing, educational and networking events
July 12th, 2005	Business Plan Challenge Reception
July 13th, 2005	Letters of intent due date
August 3rd, 2005	Business plan due date
November 2005	Winners announced at the COSE annual meeting

Click Here for a listing of upcoming events to assist you with completing your plan.

What are the categories?

Entrants must fit the description of one of the following (3) main categories to be eligible for the Northeast Ohio Business Plan Challenge 2005. Only one category may be selected. If the company fits more than one of the following categories, the Challenge entrant(s) must decide in which category the business will be most accurately judged.

Main Categories

Startup Business Plan:
Eligible businesses for the startup category are new business ventures that are less than three years old. Any business that filed a tax return for the 2002 business year or earlier is not eligible. The business does not have to offer an original product or service. Franchise plans developed by the franchiser and submitted by the franchisee are not eligible.

Growth/Innovation Business Plan:
Eligible businesses for the innovation/growth category must submit a plan for a new product, new distribution method, new or additional markets, change in ownership or change in organizational structure that will result in revenue growth.

Business Idea/Concept Business Plan:
A Plan consisting of a business concept or idea that is intended to result in a business enterprise sometime in the future. The writer/owner/shareholder(s) of the plan has not taken the necessary steps to implement the plan or has begun the start up phase of a business venture such as establish the business venture’s legal structure, maintenance of a business checking account, obtained a federal tax identification number or has filed or has intent to file a tax return reflecting business income or expense in 2005.

Entrants must select only one of the previous three categories. If none of these categories apply to a business, the business is not eligible for entry into the Challenge.

If the Business Plan meets the above criteria, entrants may also select any of the following eight Judges Special Recognition Categories that apply:

Judges Special Recognition Categories

Manufacturing Business Plan:
The company must manufacture, make or produce a product. A product may be a device, part or component to be sold to the industrial, automotive, electronics, computer, biotech, business-to-business and consumer end-use markets.

Technology Business Plan:
Technology must be a crucial or integral part of the operation or product of the company, inclusive of, but not exclusive to the following: biotechnology, advanced materials, software development, Internet-based companies (the Internet must be a key element of the business model, not just an additional distribution channel).

30 & Under Plan:
A plan authored by an entrepreneur or entrepreneurs who will not turn 31 years of age before Jan. 1, 2006. No entrepreneur or person authoring the plan in this category can be over the age limit. This category is intended for students and recent graduates at any level. To be eligible for a cash award, the recipient must be 18 years of age by December 1, 2005.

Female Business Plan:
A plan written by a certified Female Business Enterprise (FBE) company or a business in which the female individual is at least a 51 percent owner of the resulting business.

Minority Business Plan:
A plan written by a certified Minority Business Enterprise (MBE) company or a business in which the minority individual is at least a 51 percent owner of the resulting business. The business owners may fall in one or more of the following categories: Asian-Indian American, Asian-Pacific American, Black American, Hispanic American, and Native American. For the purposes of this Challenge, women are not considered minorities.

Non-Profit Business Plan:
A plan written by a non-profit organization which addresses one or more of the following mechanisms to achieve efficiency and greater impact: new strategic alliances, collaborations or partnerships, an organizational restructuring or consolidation or a new or improved revenue model that will allow self-funding for future sustainability.

Artist Business Plan:
All professional artist entrepreneurs, including emerging entrepreneurs, are eligible to submit a business plan in this category. The arts must be a crucial or integral part of the operation or product of the business. For the purposes of the Northeast Ohio Business Plan Challenge 2005, both originating and interpretive artists working in the following disciplines are eligible: visual (painting, photography, sculpture, printmaking, mixed media, graphic design, architect, film, video and computer graphics), crafts, dance, music, theater, literature, performance and multi-media.

Sustainability:
The plan must be for a business, product or service that improves our quality of life while maintaining the capacity of the environment to provide for future generations. Common examples include local/organic food, new energy technologies, healthy/high performance or green building products or technologies, restoration technologies (air, water or soil rejuvenation), and fuel-efficient transportation.

Why should I enter?

Click Here to view the Why Take the Challenge? page of site.

What are the prizes?

COSE provides many exciting rewards for entering this competition. First and foremost, the result is a finalized business plan, which is an invaluable tool for running a business. Just as important to COSE, however, is the opportunity to provide each plan author with feedback from seasoned and knowledgeable judges on both the written plan and the business model of all the businesses that enter.

In addition, the Northeast Ohio Business Plan Challenge creates an environment through ongoing educational and networking opportunities that bring established and emerging entrepreneurs together with peers, investors, vendors, and assistance providers.

COSE will award $120,000 in cash prizes in the Northeast Ohio Business Plan Challenge 2005:

Judges Special Recognition Awards: To encourage participation within entrepreneurial communities identified as important to the continued growth of Northeast Ohio, up to thirty (30) plans will be recognized with individual monetary awards from a pool of $30,000.

Category Prizes: The top plan in each of the Competition’s Main Categories (Business Idea/Concept, Startup Business Plan, Innovation/Growth Business Plan) will each receive $30,000 for a total of $90,000.

The Special Recognition and Category winners will also receive business services as outlined in the Business Plan Prize List.

How do I enter?

You’ll want to get started by registering with the Northeast Ohio Business Plan Challenge mail list. This will register you to receive up to date information on the competition, resources and referrals provided by NEO411 to help you write your plan, and invitations to networking and educational events across the region. To register now, click here.

After registering, the next step is to turn in a letter of intent to enter the Challenge. The Letter of Intent must be notarized to be valid. It can be turned in anytime on or before July 13th, 2005, 5:00 p.m. EST.

Lastly, turn in your business plans for entry on or before August 3rd, 2005 by 3:00 p.m. EST. Click Here to view elements needed in the plan.

How do I get my Letter of Intent Notarized?

Notary Publics are individuals who have studied and tested to be awarded the title and stamp of a notary public. The purpose of a Notary Public is to verify that the person signing a document is the person they state that they are. These notaries take responsibility for verifying your identity when you sign your form. Notarization often has a small fee attached to it.

There are a few ways that you might find a notary public:

1. Word of mouth
   You may know someone in your acquaintance or through a referral that holds a license as a notary public. Ask friends and family if they know of anyone who holds a license as a notary.
2. Banks
   Most bank branches have a notary public on staff, for their customers. You may want to call to be sure they will be available when you plan to go. If you don't have an account, they may either charge you for the service or they might not offer it to you if you aren't a customer.
3. COSE
   If you don't have an account at a bank, or you aren't able to get to a bank branch easily, COSE has an opportunity to help you.

You can mark your calendars for the evening of Tuesday, July 12th, 2005. COSE will host a Business Plan Challenge reception with a number of notaries present. You can have your form notarized and turn it in at the event. (Of course, you're welcome to attend the event, even if you turn in your Letter of Intent earlier.)

What are the required elements in a business plan for the Northeast Ohio Business Plan Challenge 2005?

All Plans must include a discussion of standard elements of the business including those listed in the Required Elements of a Business Plan document. Partially completed plans will be disqualified.

The following requirements also apply:
Business Plans

• You must include six (6) identical bound copies of your Plan.

Executive Summary

• One (1) bound copy of the Executive Summary must also be submitted.

Binding

• Both the Plans and the individually bound executive summaries must be velo, comb or spiral bound.
• Hard cover, three-ring binders CANNOT be accepted.

Appearance

• The Official Entry Form must be bound into the Plan as the first page.
• Plans must be typewritten or word-processed in a font no smaller than 12 pt.
• The body of the plan may not exceed 65 pages, including Official Entry Form, Title Page, Table of Contents and financial statements and projections.
• The appendices may not exceed 25 pages.
• Product samples will not be accepted.

No responsibility is assumed by COSE for lost, late, misdirected, illegible or mutilated entries. If you have any additional questions or resource needs that you don’t find here, please contact NEO Business Plan Challenge 2005 with your question or call 1-800-505-4811. Click here to view the Entry Checklist and be certain your entry meets all the requirements.

Will the business plans be returned to me?

Letters of Intent and Plan entries will not be returned to the entrant. One copy will be retained by COSE for archival purposes.