Business Idea Competition (BIC)
The Pitch:
UTM is planning to conduct a Business Idea Competition among its undergraduate students which will be announced soon. The winner will be representing UTM to compete at the national level among all other IHLs in Malaysia. The final round presentation will not only be judged by several business & technology experts BUT will also be observed by several reputable companies or Venture Capitalists who might want to fund the idea to commercialization.
The Task:
Each group is required to suggest a business idea of an IT based Product / Service to be offered to the market. Brainstorm among your group members & plan for the execution of the project. Use the attached guidelines to help you in focusing and developing your business idea. Only ONE business idea is required. Make sure you have your facts & figures to support your arguments / claims. Pay particular attention to the details of your explanation. Prepare a business idea proposal for the competition above. Display your work in the Group’s Blog created earlier. For the purpose of Submission, refer to the attached BIC template (BIC Submission Template).
A winning Idea usually have characteristics such as: solving significant real-life problem, needed & demanded by the mass – not just a few specific groups of people, unique, new & novel, creative & innovative, comply to certain unique & strong business strategy (such as The Blue Ocean), effective proposal writing, portray strong management team, realistic business model, knowledge of the industry & competition, powerful & convincing presentation…. just to name a few …..
Guidelines:
1. Business Idea & Executive Summary
- Business Idea description is complete, comprehensive and adequately covers overall business proposition.
- Executive Summary adequately articulates all relevant and pertinent issues related to the overall business proposition.
2. Product / Service Description
- Demonstrates ability to deliver customer value.
- Displays uniqueness / novelty of technology usage proposition.
3. Market & Competition
- Identifies competitors, marketing strategies and plan.
- Identifies sales strategies and plan.
4. Commercial Viability
- Possesses potential to go-to-market for product / service commercialization to secure investor to funding.
5. Overall Presentation
- Demonstrates teamwork and ability to articulate overall value proposition.
- Adequately presents and discusses Key Points presented in Business Idea document.
Due Date : 30 November 2011
