Judging Criteria and Business Plan Requirements - New York StartUP! 2023 Business Plan Competition
The 13th Annual New York StartUP! Business Plan Competition is closed. Check back in the fall of 2023 for details about the 2024 competition.
Round 1 - Technical Review
In this round, your plan is reviewed and scored for format rather than content.
The following business plan template is adapted from Rhonda Abrams, Successful Business Plan and should be used as the format for your Business Plan:
Note:
- Your Business Plan, including the financials, must be uploaded as ONE (1) file in PDF format
- It should be no longer than 20 (one-sided) pages, excluding financial statements, the cover page, and the table of contents
- Use Arial font no less than 10pt with 1-inch margins
Your Business Plan must contain the following:
- A one-page overview to accompany the business plan in the required format
- A cover page with the name of the applicant, street address, telephone number, and email address of the individual entrant(s) and team leader
- Team entries must include the names of all team members, and the street address, telephone number, and email address of one designated entrant
- A Table of Contents
- One-page Executive Summary
- Page Numbers throughout the business plan
- Elements of a Business Plan template provided on this website
- Financial Projections should include a 3-year summary balance sheet, an income statement, and statements of cash flow. Additionally, the statements should include monthly income statements for years 1 and 2 and a quarterly income statement for year 3. The financials should also include a description of sources & uses of funds, break-even analysis and notes to financials inclusive of financial assumptions
Please note:
- Points will be deducted from your score if your plan exceeds 20 pages
- NYPL will not reimburse entrants for any expenses related to the compilation or assembly of your Business Plan
- Working models or prototypes will not be accepted
- The Business Plans will be destroyed shortly after the competition has ended
Round 2 - Judges Review
The judges will evaluate each Business Plan based on the following:
1) Content of the plan, including the thoroughness and quality of the analysis
2) Effective use and impact of the prize money
3) Effective use of business information and research
4) Clear communication
5) The probability of a successful launch
6) Community Impact and job creation potential
7) Quality and effectiveness of the final presentation (in the event the applicant becomes a finalist and is invited to present)
The Business Center will publicize the names and associations of all judges who participate in the New York StartUP! 2023 Business Plan Competition. Judges will be asked to remove themselves from judging a plan if they have a conflict of interest, such as a pre-existing family or business relationship with an entrant.
Round 3 - Finalist Presentations
In August finalists will be notified and required to present their plans to the panel of judges and respond to their questions. The exact date, time, and location of these meetings will be provided to the finalists
Review Process
- In addition to completing the online orientation, entrants are required to have at least one consultation with a business librarian, meet at least once with a business advisor and attend the FOUR (4) virtual training workshops. Failure to do so will result in disqualification of your application
- May 31, 2023 - Business Plans must be uploaded to the competition site no later than 11:59 PM
- June - Round 1 - Technical Review
- July - Round 2 - Judges Review The panel of judges will review submitted business plans.
- August - Finalists will be notified and required to present their plans to the panel of judges and respond to their questions. The exact date, time, and location of these meetings will be provided to the finalists
- September - Winners will be announced at the StartUp! Awards Ceremony
