The Starting Gate

NFTE teens' presentations wow the judges -- and the winners are...

The winner of last night's Network for Teaching Entrepreneurship (NFTE) South Florida Youth Bizplan Challenge already has three years' experience running her business -- and she is only 15.

Giselle Gallardo, a freshman at John A. Ferguson Senior High (pictured here, presenting), who won 1st Place for her company called Crazy 4 Bows Bowtique, recognized that jumping into the hot fashion teen trend of bows was not enough. She needed a product differentiator, and so bottle caps are incorporated into her school-spirited designs. She gave a strong presentation to the judges, but she had a lot of competition.

The 23 winning teams at each of the school competitions first competed in a semifinalist competition in the afternoon. Soon after, five finalists were selected to pitch in the finals. Each team gave an 8.5 minute pitch and fielded tough questions in front of a panel of judges and an auditorium full of people at the University of Miami.

Coming in second place in NFTE's annual regional competition was Jennifer Carter (pictured here presenting her company) of American Senior High. Her company, Precious Pearls, offers custom bras. "Precious Pearls isn't just a bra line, it sells confidence too," she says.

Both winners will be going to New York City to compete in the global NFTE competition in October.

The other finalists were: Eligansi, by Alissa Ovalle-Marquez of Hallandale Senior High, taking third place below); iStylez Fashion, by Samandie Douceur of Miami Edison Senior High; and Histrionic Film Enterprises, by Richard Guzman and Yarien Suarez of Hialeah Gardens Senior High.

All five finalists won seed money for their businesses ($250 up to $1,500 for the first place winner). Hector Tundidor Jr., managing partner of Ernst & Young's Miami office and one of the judges, said all the presentations were very strong and the judges had their work cut out for them.  

The keynote address was given by Nicklas Sarnicola of The Sarnicola Foundation, which also was the presenting sponsor for the contest. After telling his entrepreneurial story, he advised NFTE students to "build a business around your passion, not just to make money." He also said entrepreneurship isn't for everyone and it is not easy -- entrepreneurs need to get used to failure. But when you are truly passionate about your business, it doesn't feel like work at all, he said.

NFTE South Florida offers entrepreneurship programs in low-income schools in Miami-Dade and Broward. The nonprofit launched in South Florida seven years ago serving 350 students -- now it serves more than 3,000 students, said Executive Director Alice Horn. "We are nurturing the next generation of entrepreneurs."

 

Business Plan Challenge winners announced

We are pleased to introduce you to the winners of the 15th Annual Miami Herald Business Plan Challenge.

Several of today’s winners — and many of the finalists and contestants — were grounded in social entrepreneurship. Two other themes running through many of these entries: helping the self -employed and healthy living.

So today’s emerging companies will help us stay healthy, make us money and do well by doing good.     

This year, among the 238 entries received, there were also food products, pet products, healthcare concepts, real estate ventures, restaurants, green products, sports-related ideas, crowdfunding sites and plenty of apps. The plans in our Challenge, sponsored by Florida International University’s Eugenio Pino and Family Global Entrepreneurship Center, were judged by experts from our community — successful entrepreneurs, investors, consultants, academics (see bios on MiamiHerald.com/challenge) — as well as by the public via our popular People’s Pick video competition (see videos on MiamiHerald.com /challenge).

Make Them BEG (pictured at right), a company offering an online training program in personal branding, won the Community Track, and EyeTalk, a company that developed a pair of glasses that will read for the visually impaired, led the FIU Track in the judges’ voting. Rounding out the list of the top judged winners in those two tracks: AdMobilize, U.S. Radiology, spendLO and 5K PARK Fest.

EyeTalk, from a team of FIU students who turned a college project into a social entrepreneurial venture, was also named the overall Challenge Champion, based on both the judges’ voting and the People’s Pick.

"If you subscribe — as I do — to the thought process that there are two types of entrepreneurs, the innovative and the replicative entrepreneur, EyeTalk (pictured at left) is certainly innovative. EyeTalk helps people with blindness to “hear” printed text with a simple pair of glasses — paradigm pioneering for millions in need,” said Mike Tomas, chairman of the FIU Pino Center advisory board and an FIU Track judge.

Over on the High School Track — which is co-sponsored by the Network for Teaching Entrepreneurship — SeniorLink Consulting, How Do I Look? and Do-Re-Mi A-B-C 1-2-3 took home the top honors. For a year and a half, first-place winner Sam Steiner, a 10th grader, has been running SeniorLink, which uses high school age employees to help senior citizens — and he’s hiring.

Perhaps it isn’t surprising that Lean Culinary Services pulled off a first-place win in the Community Track’s People’s Pick. After all, the fast-growing meal delivery service already has 70 employees — quite a sizable support base to mobilize to get out the vote. But what may be surprising is that finalist Papa Systems, which offers a shock-absorbing system for boats invented by South Floridian Len Loffler that is not on the market yet, came in a close second. Obviously there are a number of boaters out there yearning for a smoother ride.

Over on the FIU Track, the top three contenders, Bowling & Family Entertainment Center, 5K PARK Fest and EyeTalk were battling it out all week for the people’s vote, but Bowling scored the win.

Some of today’s winners are first timers and others are serial entrepreneurs with decades of industry experience. But whether they are in the concept stage or are already logging sales, all are in the early stages of their businesses — we’ll be watching how they do!

Read about all the winners and finalists below:

Challenge Champion and 1st Place, FIU Track: EyeTalk

1st Place, Community Track: Make Them BEG

1st Place, High School Track: SeniorLink Consulting

2nd Place, Community Track: AdMobilize

2nd Place, FIU Track: U.S. Radiology

2nd Place, High School Track: How Do I Look?

3rd Place, Community Track: spendLO

3rd Place, FIU Track: 5K PARK Fest

3rd Place, High School Track: Do-Re-Mi A-B-C 1-2-3

People's Pick, Connunity Track: Lean Culinary Services (dba DeliverLean)

People's Pick, FIU Track: Bowling and Family Entertainment Center

All 2013 Finalists and Semifinalists, all tracks

 Photos show Rodolfo Saccoman of AdMobilize and Michael Cabrera of U.S. Radiology, 2nd place winners.

 

Read more here: http://www.miamiherald.com/2013/05/05/3381993/business-plan-challenge-announces.html#storylink=cpy

Business Plan Challenge top 6 unveiled -- your turn to vote

Today we unveil the top six finishers in the 15th Annual Miami Herald Business Plan Challenge, and you get a chance to vote for your favorite plans in the Community and FIU Tracks. The People’s Pick competition, now in its 7th year as part of the Challenge, is open for voting.

With just a couple days’ notice, the contenders presented their 90-second elevator pitches in Miami Herald and FIU studios on the same day earlier this month.

To vote for your favorite contestants, here’s what to do:     

      Click on the "vote" button on MiamiHerald.com/Challenge (top left) to bring up the voting page or  click here. View any of the short videos of the finalists’ elevator pitches. The six selections in the FIU Track follow the Community Track.

Then scroll down to the bottom of the page to cast your ballot, voting for one video in each track. You may vote once per day.

Lastly, get out the vote! Give your favorite entrepreneurial team more support by asking your social networks to vote. In previous contests, we’ve had votes from all over the world. Follow along on Twitter with #mhchallenge.

Voting closes at 11:59 p.m. April 22. The teams with the most votes in each track will be awarded the People’s Pick and honored in the May 6 Business Monday section along with the judges’ selections.

The 2013 contestants are:

Community Track

•  AdMobilize, pitched by Rodolfo Saccoman. Utilizing proprietary portals, dashboards and metrics, AdMobilize creates two new advertising networks, transforming passenger vehicles and iPads into moving billboards.

•  Arctico, pitched by Nestor Villalobos. Company’s purified ice in single-serving tamper-proof packaging allows consumers to cool their drinks using the expertly engineered slow-melting ice in places where they may not trust local sources.

•  Lean Culinary Services (dba DeliverLean), pitched by Scott Harris, offers DeliverLean, a healthy meal delivery service that combines flavor, quality balance and portion control, and OnJuice, a cold-pressed juice and cleanse line.

•  Make Them BEG, pitched by Jessica Kizorek and Michelle Villalobos, offers an extensive virtual training curriculum and a monthly magazine developed to teach the self-employed how to create an irresistible personal brand.

•  PAPA Systems, pitched by Len Loffler. This patented and prototyped shock-reducing boat suspension deck platform, which is mounted on the deck of a boat, reduces the harmful stress on the spine of the occupants of a small boat in choppy water.

•  spendLO, pitched by Kristin Delaney. spendLO’s Web-based (and soon to be mobile) service-request platform enables consumers to “name their price” on any service. Pre-qualified local vendors can submit bids within the consumers’ budgets.

FIU Track

•  Bowling and Family Entertainment Center, pitched by Joshua Kaufman. This upscale family-oriented 40-lane bowling facility would also feature billiards, video arcade games, apparel and pro shop, training facility, restaurant and bar.

•  Deubre, pitched by John Romney and Paul Hoffmann. Deubre provides easily interchangeable Designer Shoe Lace Tags to style-conscious individuals.

•  EyeTalk, pitched by Viurniel Sanchez, offers an affordable pair of eye glasses that allow people with severe vision impairment to hear the text in books, newspapers, menus, packaging and other items in many languages.

•  5K PARK Fest, pitched by Marlene Quincoces. This is a community event and fund-raising platform that promotes kindness, civic engagement and a healthy and active lifestyle.

•  Upsigo, pitched by Carlos and Kari Edde, is an online platform designed for the dynamic negotiation of cargo between the shipper (freight forwarders) and carrier companies (cargo airlines, ocean carriers), which improves the way companies in the air and ocean cargo industry collaborate.

•  U.S. Radiology, pitched by Michael Cabrera. A network of free-standing diagnostic imaging centers will provide scheduling services to payers, imaging centers and patients — initially in Florida and more specifically to the workers’ compensation marketplace. 

What’s next in Challenge 

•  People’s Pick competition: To vote, go to MiamiHerald.com/challenge, click on the “vote” button to view the videos or click here and then scroll down to vote for one team in each track. You may vote once per day through April 22.

•  FIU Pino Center Shark Tank: Give your 2-minute pitch and get advice and feedback at this educational networking event Friday morning. Winner awarded free admission to the AVCC (Americas Venture Capital Conference) in December. This event is free to Challenge contestants — email ndahlberg@miamiherald.com or contact the Pino Center for the discount code. More info on event: entrepreneurship.fiu.edu

•  Winners unveiled: The winners of the judges’ awards in all three tracks and the People’s Pick will be announced and profiled in the May 5 edition of the Miami Herald.

Read more here: http://www.miamiherald.com/2013/04/14/3342260/business-plan-challenge-launches.html#storylink=cpy

 

 

Read more here: http://www.miamiherald.com/2013/04/14/3342260/business-plan-challenge-launches.html#storylink=cpy

Business Plan Challenge announces High School Track finalists

By the looks of the entries in the Business Plan Challenge High School Track, South Florida’s future economy is in very good hands.

Entries poured in from all three counties with ideas for mobile apps, education products, new restaurants, food creations and lots of fashions. Some of the students provided well-researched ideas, while others already have operating companies. Nearly all the entries had socially entrepreneurial twists.

We had 59 entries in all in the High School Track, which is co-sponsored by the nonprofit Network for Teaching Entrepreneurship (NFTE South Florida), which provides entrepreneurship education programs in low-income schools. The judges admired the students’ creativity and passion for their concepts, which often catered to the teen market, but to stand out from the pack, the students needed to present a clear strategy for execution as well as an innovative idea in their business plans.      

If there were an award for a school, though, it would have to go to Ransom Everglades, whose students accounted for almost half of the entries for a second year in a row and placed well in the finals. Students in teacher Jennifer Nero’s macroeconomics class alone submitted about 20 of the entries.

The top three winners will be profiled in the May 6 edition of Business Monday. The 2013 finalists are:

•  Do-Re-Mi A-B-C 1-2-3 Piano Book, by Veronica Chua and Hee-Young Kim of Ransom Everglades. This beginner level piano book, envisioned by students who have played instruments for years, uses creative musical instruction and story-based songs to help young children develop a strong foundation in math and reading, revolutionizing the traditional piano lesson book.

•  How Do I Look? by Kyle Lieberbaum, Blake Altman, Josh Kaplan and Jonathan Greenwald, of Miami Beach Senior High and Ransom Everglades. This app would provide a community for users to receive advice and critique outfits, and puts personal shopping in everyone’s pocket, resulting in a better looking and more self-confident world. The app would include a ratings system and opportunities for coupons.

•  iServe, by Jan Bergengruen and Jordi Lorido of Ransom Everglades. This app targeted at high school students would provide ways to help the community by informing students of nearby local opportunities where they could help out, as well as simplify the process of tracking and credibly confirming volunteer hours.

•  Life on the Line, by Juan Felipe Barragan and Isabella Zopo of St. Thomas Aquinas. This interactive RPG (role-playing game) app aims to help middle school and high school students understand the issues of violence, raising awareness in order to solve the problems and misuses of the weapons, while immersing players in the professions of the people who protect our community, such as police officers and firefighters.

•  SeniorLink Consulting, by Sam Steiner of St. Andrew’s School. This already operating company provides senior citizens with in-home computer installation and services as well as tutoring by high school students for a reasonable hourly fee. The Palm Beach County-based company has hired its first employees and plans more hires to expand its territory to other parts of South Florida.

•  Spider, by Jared Ertel and Ryan Schatz, of Ransom Everglades. The goal of this free website would be to organize all social media into one concise, neat format, organized based on the user’s interests. Revenue would be derived from advertising; 35 percent of profits would go to charitable organizations that are most actively supported on the site by the user base.   

Read more here: http://www.miamiherald.com/2013/04/14/3342263/business-plan-challenge-announces.html#storylink=cpy

Business Plan Challenge semifinalists announced

There is never a shortage of entrepreneurial spirit in South Florida. Entries to our 15th Annual Miami Herald Business Plan Challenge poured in, making cases for businesses in nearly every industry imaginable.

This year’s Challenge, sponsored by FIU’s Pino Global Entrepreneurship Center, drew a record number of entries — 238 in all — and our judges said they saw a lot of creative and innovative ideas. But to really shine in the Business Plan Challenge, a good idea is never enough. The judges also need to see a smart business plan for execution.

Our judges rated written entries for market opportunity, business model, management team, marketing strategy, financials and more. We will be happy to share the judges’ feedback after the Challenge is over on May 6. Just email challenge@miamiherald.com with your request.     

      With no further ado, today we announce the semifinalists in the Community and FIU Tracks. We will announce our High School Track finalists next week. And the semifinalists are:

Community Track

•  AdMobilize, by Rodolfo Saccoman. Utilizing proprietary portals, dashboards and metrics, AdMobilize creates two new advertising networks, transforming passenger vehicles and iPads into moving billboards.

•  Arctico, by Nestor Villalobos. Company’s purified ice in single-serving tamper-proof packaging allows consumers to cool their drinks using the expertly engineered slow-melting ice in places where they may not trust local sources.

•  Dog-E-Glow, by Gregory Brauser, creates and sells a high-end line of LED designed pet collars, leashes and other pet accessories featuring collegiate sports and other licensed logo designs.

•  iCare Intelligence, by John Suarez. iCare, currently in beta testing, delivers cloud-based performance management solutions and analytics for the purpose of controlling healthcare expenses.

•  Kitchen Popups, by Lauren Casgren-Tindall and Mauricia Ragland. People who follow a restrictive diet (vegan, gluten-free, Paleo, raw, etc.) find it difficult to dine outside the home due to a lack of food options. KP will curate an online network for people to share meals, while cross-selling related goods and services on its platform.

•  Lean Culinary Services, by Scott Harris and Olga Kuzenkov, offers DeliverLean, a healthy meal delivery service that combines flavor, quality balance and portion control, and OnJuice, a cold-pressed juice and cleanse line.

•  Make Them BEG, by Jessica Kizorek and Michelle Villalobos, offers an extensive virtual training curriculum and a monthly magazine developed to teach the self-employed how to create an irresistible personal brand.

•  Miami Winery Project, by Patrick Charpentier, Jerome Hayfil and Charles Mac Caffrey, includes a wine-bottling facility in Miami that would bottle wines imported in bulk from Argentina, Chile, France, Spain and Italy, allowing a 30 percent to 40 percent cost savings on the finished product.

• Munchkin Fun Classes, by Valerie Schimel. This mompreneur’s company provides a single destination for parents to find, enroll in and pay for kids’ classes. It partners with marquis local businesses.

•  PAPA Systems, by Len Loffler. This patented and prototyped shock-reducing boat suspension deck platform, which is mounted on the deck of a boat, reduces the harmful stress on the spine of the occupants of a small boat in choppy water.

•  Playapy, by Amy Baez. This online child development resource for parents and educators of children up to 12 years of age offers ways to improve play and learn skills as well as access tips, videos and therapy professionals directly.

•  spendLO, by Corey Leff and Kristin Delaney. spendLO’s web-based (and soon to be mobile) service-request platform enables consumers to “name their price” on any service. Pre-qualified local vendors can submit bids within the consumers’ budgets.

• Synergist, by Jared Kleinert. This web software platform helps social entrepreneurs build a network of people around common ideas to improve society, collaborate in a free shared workspace, and fund their movements.

FIU Track

• Bowling and Family Entertainment Center, by Joshua Kaufman. This upscale family-oriented 40-lane computerized bowling facility would feature billiards, video arcade games, apparel and pro shop, bowling training facility, restaurant and bar.

•  Deubre, by John Romney, David Lewis and Paul Hoffmann. Deubre provides easily interchangeable Designer Shoe Lace Tags to style-conscious individuals.

•  Energy Consortium of the Americas, by Brian Zirulnikoff, Roberto Flores and Matthew Mecsery. An interactive web-based platform provides the average person with the technologies, know-how, installation, financing options and a computer application that will help establish a trainable, independent energy-auditing workforce.

•  EyeTalk, by Pia Celestino, Viurniel Sanchez, Esam Mashni and Jesus Amundarain, offers an affordable pair of eye glasses that allow people with severe vision impairment to hear the text in books, newspapers, menus, product packages and other items in a multitude of languages.

•  5K PARK Fest, by Marlene Quincoces and Humberto Casanova. This is a community event and fund-raising platform that promotes kindness, civic engagement and a healthy and active lifestyle.

•  Goodbun, by Daniel del Campo and Alec Fernandez. Rethinking the term “fast food,” Goodbun will offer burgers, fries, wraps and snacks that are tasty, convenient — and healthy.

•  Grounds to Ground, by Yvette Tablada and Andres De La Puente. The company’s mission is to create a green sustainable soil conditioner and insect repellent made from recycled coffee waste.

• I Know Science, by Gabriela M. Brown. IKS offers a purposeful and fun after-school program for children in kindergarten through 5th grade to spark curiosity and a lifelong love of science through engaging and interactive labs.

•  Instant Islands, by Ryan S. Weier and Steven Weier. Engineered steel-reinforced concrete structures, or islands, would surround and protect environmentally sensitive areas such as sea grass beds and natural reefs from boat anchors and storm damage.

•  RingFit, by Charles Stack Sr., Rafael Crespo, Carmine Tufano and Charles Stack Jr. A workout program developed by real fighters and trainers in boxing focused on maximizing a person’s all-around athletic ability and performance.

•  Upsigo, by Carlos and Kari Edde, is an online platform designed for the dynamic negotiation of cargo between the shipper (freight forwarders) and carrier companies (cargo airlines, ocean carriers), which improves the way companies in the air and ocean cargo industry collaborate.

•  U.S. Radiology, by Michael Cabrera. A network of free-standing diagnostic imaging centers will provide scheduling services to payers, imaging centers and patients — initially in Florida and more specifically to the workers’ compensation marketplace.   

What’s next  in Challenge?

•  We’ll be announcing the finalists in the High School Track next Monday.

•  Also next Monday, we’ll be launching the People’s Pick competition, where the top six contenders in the Community Track and FIU Track give their elevator pitches. You vote.

•  The winners of the judges’ awards and the People’s Picks will be announced in a special report on May 6.

Read more here: http://www.miamiherald.com/2013/04/07/v-fullstory/3328897/business-plan-challenge-announces.html#storylink=cpy

Read more here: http://www.miamiherald.com/2013/04/07/v-fullstory/3328897/business-plan-challenge-announces.html#storylink=cpy

The Pino Center offers Shark Tank workshop -- free for Business Plan Challenge participants

Are you ready to launch your business and take it to the next level?  The Pino Center Shark Tank is an opportunity to have your pitch reviewed by a local panel of entrepreneurs and mentors.

The Shark Tank -- the final event in the Florida International University Pino Global Entrepreneurship Center's spring workshop series -- will be an educational and networking opportunity for all, regardless of whether you are in the audience or on the main stage. One winning pitch will be awarded a complimentary pass to the 2013 AVCC: Healthcare Innovation and Venture Capital, to take place at the Hilton Miami Downtown Dec.11-12.

The registration fee for this workshop is $50 but this is a free event to all participants of the 2013 Miami Herald Business Plan Challenge, which is sponsored by the Pino Center. If you entered the Challenge this year, email  ndahlberg@miamiherald.com or contact the Pino Center for a discount code.

The Pino Center Shark Tank

Date, time, place: April 19, 2013, 8:30 a.m. to 1 p.m., at FIU's College of Business Complex, Special Events Center, CBC 232

More information and to register: entrepreneurship.fiu.edu or call (305) 348-7156.

Many Business Plan Challenge plans have social entrepreneurial twist

I haven't been posting much this week because I have been immersed in the Miami Herald Business Plan Challenge judging process (along with, well, my regular day job!). I'm happy to report that innovation and competitive spirit are alive and well in South Florida! We received 240 plans in all three tracks in our 15th annual contest. 

I do not judge the plans at all -- we have experts for that -- but I have been involved in vetting the plans (not from South Florida? You're out! Been in business more than two years? Sorry) and assembling the judging panels. What we are seeing: a lot more social entrepreneurial plans this year, across all three tracks, particularly the high school track.

As always, we received a lot of creative product-oriented plans -- fashion, food, pet products, films, gadgets, apps. But this year, more of them were developed past a single-product focus. Also, we got a fair number of plans from veterans of industry that saw a better way to do things. That's the good news.

There are always challenges. The vast majority of our entries were solely focused on the product or service -- more like an ad or brochure rather than a business plan. It's understandable that you are very proud of your awesome product but there has to be a plan included on how you will make it a successful company. 

We'll be reporting the finalists on April 8 and winners will be announced May 6 in the Miami Herald. In between we will have a video contest, in which the top 6 give their elevator pitch. We'll let you be the judge on that! Stay tuned!

 

Business Plan Challenge attracts record number of entries

South Florida's entrepreneurial spirit is alive and well. For proof, I offer you this:

The 15th Annual Miami Herald Business Plan Challenge attracted about 240 entries, the highest number since 1999, the year our contest started. As always, the entries seemed to represent the diversity that is South Florida -- with concepts for restaurants and food products, fashion, technology, healthcare, education, social entrepreneurship and more. We had diversity of age as well -- with about 50 high school teams entering and several entries from participants “in retirement.”

If you entered by the midnight deadline Monday and did not get an automatic response that your entry was received or had other problems with submitting your entry, please email ndahlberg@miamiherald.com so we can make sure your plan is entered.

What’s next? The plans now go to the judges. Each track — Community, FIU and High School — has its own set of judges. We will announce the first round of finalists in Business Monday and on MiamiHerald.com/challenge on April 8. Then we will announce our top six plans in the Community and FIU Tracks on April 15, which will also be entered into our video contest. The winners will be profiled in a special edition of Business Monday on May 6.

Our 2013 contest is sponsored by FIU’s Pino Global Entrepreneurship Center and the High School Track is sponsored by the Network for Teaching Entrepreneurship. 

 

Business Plan Challenge entries due Monday -- here's a survival guide

If you haven’t submitted your Miami Herald Business Plan Challenge entry yet, you are probably in good company. Last year, 90 percent of the entries came in on the last day; most in the last possible hour.

You still have plenty of time — entries are due at 11:59 p.m. Monday. We welcome high school entrepreneurs in our contest, too — there is a track just for you.

Here’s a survival guide:

Your business plan entry can be up to three pages, and you are allowed one extra supplemental page for charts, photos or diagrams. Tip: Be brief — just the highlights — and make every word count. Include a company description, the problem you are solving in the market and why your product or service is better than the competition. Tell us about the market opportunity, how you will make money, your marketing strategy and your team. Last but not least, include your financial strategy: What will your startup costs be? How will you fund your venture? What are your three-year projections? You can use your supplemental page for a financial chart if you wish. Find the complete contest rules and read about the judges — investors, advisors, serial entrepreneurs and finance specialists, all experts in entrepreneurship — on MiamiHerald.com/challenge.

Email your entry to: challenge@MiamiHerald.com for the Community Track, open to all of South Florida; fiuchallenge@MiamiHerald.com for the FIU Track, open to students and alumni of that university; and highschoolchallenge@MiamiHerald.com for grades 9-12.

You should get an automatic response after you send your entry. If you don’t get a response or you have questions about whether your entry was received, please email ndahlberg@MiamiHerald.com.

Good luck!

Business Plan Challenge: Your questions answered

The March 11 deadline for the 15th Annual Miami Herald Business Plan Challenge, sponsored by FIU's Pino Global Entrepreneurship Center, is just around the corner. Have a question? Email ndahlberg@ miamiherald.com.

Here are a few questions I received this week:

Q. What do the judges look for in an entry?

A. There is no one way to write a short business plan, but in general judges like to see a succinct description of your product or service as well as what problem in the market your company is solving, the market opportunity and what differentiates it from the competition. They also want to know about your business model — how you will make money — as well as sales and marketing strategy, your team (relevant experience) and a financial summary (how will you fund your venture and what are your startup costs and your revenue projections, for instance.)

It may seem like a tall order for a three-page plan (plus one optional page of supplemental materials is allowed) — but think of it like a meaty executive summary. Many of these sections may be just one paragraph,. make every word count and use a lot of bullet points. Don’t forget to show your passion!

Q: Does a title page count in the three-page limit?

A: No, title pages do not count in the three-page limit (one supplemental page is also allowed). However, they also aren’t necessary as far as we are concerned —- the judges are only concerned with what is inside.

Q: May I use the supplemental page for my financial chart?

A: Yes, that is an excellent use for the supplemental page. You can also use it for a photo, diagram, screen shot, etc.

Q. Can a high school student enter more than one business?

A. Sure, as long as they are separate entries.

Q. I’m in the eighth grade? May I enter?

A. Absolutely! You may enter either the high school or community track.

Q. Do you have to have an operating business to enter?

A. No, for this contest, your concept can be in the idea phase. But if you do have an operating business, it can’t be more than two years old.

Q. Who gets to participate in the video competition?

A. The People’s Pick is a video competition of the top six finalists in both the Community and FIU Tracks. Last year it drew more than 18,000 votes. There is a separate award for the People’s Pick. You can see last year’s videos on MiamiHerald.com/challenge

Q. What are the prizes?

A. If you are looking for big prize money, you are in the wrong contest. We have been a community contest for 15 years that has offered exposure (the top three winners and the People’s Pick are profiled in the Miami Herald and we follow the companies for years to come), feedback, education and connections. Some of our winners have found that is just as valuable.

And here are a few questions from earlier:

Q: Can I enter again if I entered last year?     

A: Absolutely! As long as your business is no more than two years old and you were not a top three winners in a previous year.

Q. My CTO has a bachelors degree from FIU. Can we enter the FIU Track? If so, can we enter the Community Track too?

A. Yes, as long as at least one member of a team is a student or alum of FIU, you can enter the FIU Track. You cannot enter both tracks with the same idea, however.

Q: I am a teacher and some of my students would like to enter. Are the rules and deadlines the same?

A: That’s great, we love youth entrepreneurship! Yes, the rules are the same although most high school entries have been running 1-2 pages and that is perfectly fine. They should send their entries to highschoolchallenge@miamiherald.com by March 11.

Q. How do I enter:?

A. Your entry can be a short business plan up to three pages in length. In addition, you can include one supplemental page for a photo, rendering, chart etc. Many entrants use their suppemental page for their financial chart. Send your entry to  challenge@miamiherald.com (Community Track);  fiuchallenge@miamiherald.com (FIU Track) or  highschoolchallenge@miamiherald.com (High School Track). You should get an automatic message and a folloc-up message from me confirming your entry. If you don’t get a message, please email  ndahlberg@miamiherald.com

Get advice from our Business Plan Bootcamp -- read about it here.

Read more here: http://www.miamiherald.com/2013/02/17/3239779/have-a-question-about-the-challenge.html#storylink=cpy