SCORE’s “BizPitch Savannah™ 2022” Entrepreneurial CompetitionNov 16th, 2022 | Savannah, GA
Thank you for your interest in becoming a “BizPitch Savannah™ 2022” contestant. Please carefully read the following Rules and Requirements. It is essential that you comply with all Rules and meet all requirements in order to apply. If you do not comply and you submit an application, your proposal will not be considered.
RULES AND REQUIREMENTS:
By submitting your proposal, you affirm that you have read, understand, and accept these rules, that you meet all the event and applicant requirements, that you have completed this proposal yourself, and that all information in this proposal is true and accurate, and that you understand that your $25 application fee is non-refundable and that you agree to the following:
- All applicants must be at least 18 years of age
- Proposed businesses must be either a new start-up or have obtained its Savannah-Chatham County Business License after June 1, 2021.
- Applications involving products or services that are, or will be, part of or associated with an existing business will not be accepted.
- Completed applications must be received at bizpitchsavannah.com no later than midnight Monday, October 3, 2022. Incomplete applications, those over 900 words in length, or applications received after the deadline will be automatically disqualified.
- Three winners will each receive a Prize of cash and business-related services which may be modified by the organizers from time to time prior to the event.
- Should I/we win the competition, I/we agree that the business will be located in Chatham County, GA, and will launch by no later than January 1, 2024.
- I/We will be responsible for all taxes associated with the Prize.
- I/We release SCORE, its officers and agents, as well as all other persons or organizations affiliated with or in any other way associated with the BizPitch SavannahTM event, from all claims and causes of action relating to my/our participation in the Competition.
- I/We grant SCORE the right to use my/our name(s) and the name of my/our business, and any image taken of me/us or the business by or on behalf of SCORE, without limitation and without additional compensation, notification or permission, in any medium whatsoever.
- I/We agree to participate in activities to help publicize and promote SCORE’s “BizPitch Savannah™ 2022” before and after the event.
- I/We understand that failure to comply with any of the rules or requirements set down in this application may result in disqualification and/or revocation of the Prize.
Preparing Your BizPitch Savannah™ Proposal: The BizPitch process begins by completing the Application form available below. All applications will be reviewed by a Savannah SCORE Review Committee and evaluated for clarity, completeness, uniqueness, and potential financial viability.
Applications will be evaluated based on clarity of concept and presentation, practicality/viability, and completeness of responses. To be considered an acceptable application, all questions must be answered.
NOTE: There is a limit of 900 words. Applications with more than 900 words will be disqualified.
Venture Description and Rationale
- Business name and a clear description of your product(s) or service(s)
- Explain what problem(s) it solves or unmet need(s) it addresses
- What have you done to demonstrate/confirm your idea’s commercial viability?
- Identify your target market(s) including customer profiles, estimated market size, seasonality, service expectations, growth projections etc.
- Will customer demand be sustainable? Explain.
- Is your business model scalable, i.e., able to generate sales and grow beyond your initial market? Explain.
- Who are your principal competitors. What are their strengths and weaknesses?
- What is your competitive advantage, e.g., unique or superior product/ service concept, proprietary technology, service support?
- What barriers are there to your ability to compete in your market? How will you overcome them?
- What channels will you employ to promote your product or service brand e.g., digital marketing. social media, website, traditional media?
- What vehicles will you employ to distribute your product or service to customers e.g., digital marketing, e-commerce, “brick-and-mortar” store, direct sales, sales representatives?
- Business location (plant or office facility, retail space, etc.), equipment, technical resources, warehouse support, licensing, legal advice, insurance coverage, etc.
- What will be your staffing requirements?
- What is your first full year revenue projection (explain assumptions)?
- What are your business launch funding needs (launch capital and operating cash)?
- What are your projected sources of funds?
- Tell us about the experience, relevant skills, and education that equip you to successfully launch and manage a new business.
- From a personal perspective, how do you know you have the risk tolerance and ability to commit the time and energy required to operate a new business venture?
- Is there any other information about you we should know?