Innovation Fellows Business Plan Sample Template
Teams of prospective Innovation Fellows are required to submit a detailed business plan for their venture following a presentation format similar to the provided sample template. The plan must cover aspects such as mission statement, team details, market summary, business concept, SWOT analysis, competitive analysis, and goals. The deck template includes guidelines and tips for creating a comprehensive and well-structured business plan. Eligibility criteria and program requirements need to be met for consideration in the evaluation process.
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Business Plan Template Teams of prospective Innovation Fellows must submit a complete and well-written business plan for the venture in presentation format similar to this sample template. This sample deck is being provided to best achieve an equitable evaluation process by the NJEDA. Teams should ensure the presentation adequately describes all relevant features of their proposed business venture. Consider the program requirements and scoring framework as you compose the deck.
[Company Logo] [Company Name] Business Plan
Mission Statement What is your company's long-term mission? Where do you see your company s growth going? Tip: Be as concise as possible! Note that businesses must be within one of the EDA s target industries to be eligible for this program.
Team Who are your key managing members? What previous accomplishments or experience do they have that is noteworthy and relevant? Note that teams must be of at least three people with at least half being first time entrepreneurs. Teams may be awarded additional funds for having diverse members or members who have graduated from NJ universities.
Market Summary Where is the market currently? Where was the market previously, and where is it going? How large is your company s Total Addressable Market (TAM)? Tip: Highlight sources of data
Business Concept & Structure Summarize your business overall concept. What problem is it trying to solve? What are your differentiators? Is your business a university spin-out? On what IP/technology/strategy is your business based?
SWOT Analysis Strengths Weaknesses Threats Opportunities
Competitive Analysis Summarize competition and outline your competitive advantage against your competitors.
Goals and Objectives What are your company s goals over the next: 12 Months? 24 Months? 5 years? Tip: Be specific AND be measurable!
Financial Plans Provide a financial model covering the next 3-5 years. What profits do you expect yearly? How are these affected by projected sales volumes or pricing strategies? Tip: Use as many slides (of the 15 available) as needed to describe this fully! Financials are important!
Resource Requirements What technology is required to make your business a success? What personnel is required? What financial resources are needed? (third party capital, etc.) What other resources can you tap into? What will be outsourced? What Supply Chains will you need to access? What will you need in terms of marketing/promotion/PR?
Key Issues What near term decisions will need to be made? What effects may result in the long term? What long term issues will arise down the line? How does your actions today affect these? If you are seeking funding, how will you use the money?
Risks & Rewards What risks are related to the proposed new projects for your company? How will you address/minimize these risks? What is the intended pay off?
Design Tips Keep it simple and easy to understand for anyone outside of your industry Stand out, be eye catching you have only a few moments to capture investors attention Feel free to implement colors and designs, but make sure your presentation won t be distracting A picture is worth a thousand words Tip: Consider the impact that publications like this may have on your company s brand
Other Areas to Address Overall Strategy, Competitive Edge, Implementation Diversity, Equity & Inclusion policies Products Overview, Future Products Company Executive Summary Locations, Facilities Organizational Structure Assumptions Made Business Ratios (Current Ratio, Turnover, Debt to Assets, etc.) Consider highlighting how your business meets our program requirements such as operations in an eligible municipality, team makeup, and commitment to full-time involvement.
Additional Resources Institutional Resources: SBDC Business Plan Writing SBA Guide toLean Business Plans Y-combinator: How to Design a Better Pitch Deck How to Build your Seed Round Pitch Deck SCORE: Business Plan PPTX Template Business Plan and Financial Statements Template Gallery Find a free SCORE mentor to review you business plan PPTX Design Templates: Microsoft Visme
