Any full-time Notre Dame student or Notre Dame alumnus may enter the business plan competition.  Students from all Colleges are welcome and encouraged to enter.  Anyone who is not a student or alumnus may join a team that includes at least one full-time ND student or alumnus.  Participants are encouraged to create teams consisting of 2-7 people with a variety of different skill sets and strengths, but can also compete in the event as individuals.

Notre Dame employees and their spouses are not eligible to enter unless they are also full-time students or join a team that includes at least one full-time ND student or alumnus.

The competition focuses on ventures that have not yet been launched or are at their earliest stages of launch.  An eligible venture is typically one that has generated less than $500,000 in cumulative revenues, has received less than $500,000 in external financing and has been in operation less than three years.  Plans that are affiliated with an existing business are typically not eligible to compete.  While these guidelines provide general parameters, eligibility determinations will be made on a case-by-case basis at the sole discretion of the Business Plan Competition Committee.  If you have any questions regarding eligibility, please contact the Gigot Center staff prior to the registration deadline.

To note, team eligibility will be verified at each stage of the competition to insure that teams continue to meet the criteria for participation in the event.

Second round Business Plans are due February 23, 2007 by 5:00pm EST. Finalists will be announced in late March, 2007. Finalists will present their plans in April, 2007 to a panel of judges and may provide a brief overview of their business proposal during the Business Plan Competition final event in April 2007. The winner will be announced at the April final event.

The purpose of the Business Overview is to provide a vision for the proposed venture, including the business concept, target customers, industry overview, competitive landscape and revenue potential.  Submission requirements at this stage of the competition will include a 2-3 page written document, PowerPoint presentation and public summary paragraph.  Business Overview materials are not intended to be as comprehensive as a detailed business plan, but should provide the reader with a summary of the major elements of the proposed venture.  Detailed content guidelines for Business Overview submissions can be obtained at the Gigot Center or on our web site at http://gigot.nd.edu.  Please note that first round submission guidelines are subject to change prior to the submission date of October 27, 2006.

The grand prize is a cash prize of $15,000. The winning team is encouraged to use this prize money to launch the winning business plan.  Other cash prizes that have been awarded in past competitions include:

• PaceGlobal People's Choice Best Presentation Award ($3,000) - given to the team with the best oral presentation at the competition's final event, as determined by audience vote (Social Venture teams are eligible for this prize)
• Bernel Best Bootstrap Venture ($2,000) - given to the best undergraduate or graduate student team that can achieve the objectives outlined in its business plan with less than $100,000 in external financing
• Business Plan Pro Best Written Plan Award ($1,000) - given to the undergraduate or graduate student team with the best written plan, as determined by a panel of judges from Palo Alto Software, makers of Business Plan Pro (Social Venture teams are eligible for this prize)
• Best Undergraduate Plan ($1,000) - given to the best undergraduate student plan

Prize money and/or in-kind services may or may not be awarded at the sole discretion of the judges.  Teams are ineligible to receive more than two cash awards in the competition.

In addition to the cash prizes noted above, competition finalists will receive a full day of free consultation from IdeaWorks, a new business incubator, which carries an in-kind value of $5,000.

Free Business Plan Pro Premier software packages are available to each team that participates in the competition.  Business Plan Pro is the number 1 rated and best-selling business plan software program.  It provides an interactive environment for developing business plans that includes tips, examples and sample business plans across a variety of industries.  The retail value of this software is approximately $299 per copy.  Teams can receive their copy of Business Plan Pro Premier upon submission of the business overview and payment of any applicable alumni team registration fees.

All prize proceeds can be revoked if the recipients are found to have violated any of the competition's rules and regulations, including the conditions outlined in the waiver and release form.  Prizes are subject to tax withholding if required.  The University of Notre Dame is not responsible for the content or quality of any in-kind services that may be provided as awards for the competition.

During the first and second rounds of the competition, judges will evaluate each team entry based on the written documents and supporting exhibits provided by each team. Any team that is selected for the final round will be required to make a 10 minute oral presentation to a panel of finalist judges that will be followed by a 15-30 minute Q&A period to be led by the judges. The winning team will be selected on the basis of both the written and oral presentations of their business plan. The winner will be determined by the judges, and their opinion is final.

It is important to note that the Business Plan Competition Organizing Committee reserves the right to seed each stage of the competition to ensure that undergraduate student, graduate student and executive MBA/alumni/open division teams are adequately represented throughout the event.

Contact with judges by team members, or on behalf of team members, before or during the judging of each round is not permitted, unless the judges initiate it for purposes of clarification. Teams who violate this condition will be disqualified from the competition. It is permissible, however, to contact judges after each round of the event, provided that the judges include contact information with the feedback they provide to teams.

Each team that advances to the semi-final round will have the opportunity to be paired with a mentor from the IrishAngels network or ND community. These individuals have entrepreneurial experience and can provide valuable advice to teams as they develop their Business Plans.  While each mentor's involvement will vary, the mentor will typically conduct one to two reviews of a team's Business Plan as it is being developed for submission to the competition. Mentor feedback can be provided via mail, e-mail, telephone conversations, or via face-to-face meetings depending on the geographical location of the mentor and teams.  Please note that payment for postage costs, telephone expenses, and/or travel-related costs is the responsibility of individual teams and these expenses will not be covered or reimbursed by the Gigot Center.

The purpose of offering mentors is to provide additional support to semi-finalist teams as they develop comprehensive plans for launching their proposed business ventures.  The mentor should be viewed as an advisor or coach.  While it is the Business Plan Competition Committee's hope that these relationships will prove fruitful for both teams and mentors, the Gigot Center does not take any responsibility for the advice or guidance provided by mentors. Teams are free to accept or reject any feedback or direction given by the mentor.  Also, the preparation and submission of the business plan is the sole responsibility of the team, and no special extensions or considerations will be given due to issues or extenuating circumstances related to mentor involvement.

Mentors will provide input to the Business Plan Competition Committee as to how well their assigned teams took advantage of their mentoring resources. This feedback may factor into the selection of competition finalists and award winners.

Judges and members of the Business Plan Competition Committee who will be in contact with the competition entries will sign a blanket confidentiality agreement (NDA) covering the plans they review. The only exception to this policy is for venture capitalists who are prohibited by company policy from signing confidentiality agreements. While every reasonable attempt will be made to maintain the confidentiality of Business Overviews and Business Plans, the confidentiality of entries cannot be guaranteed. Neither judges, Gigot Center staff, Business Plan Competition Committee members, the Mendoza College of Business, nor the University can be held liable for inadvertent disclosure of Business Overview or Business Plan information.

Please note that it is not feasible for judges to sign non-disclosure agreements for individual competition entries. If you have any questions or concerns regarding this policy, please stop by the Gigot Center or call 574.631.3042 to discuss this matter further.

Judges and members of the Business Plan Competition Committee (with the exception of certain venture capitalists, as noted above) who will be in contact with the Business Overviews and/or Business Plans will sign a blanket confidentiality agreement covering the entries they will come in contact with throughout the competition. This agreement will extend for one year after the winners are announced. A copy of this confidentiality agreement is available from the Gigot Center upon request. Beyond these steps, the Business Plan Competition Committee cannot and will not take further responsibility to protect the intellectual property or other rights of the contestants.

In most instances, it should not be necessary in the Business Overview or Business Plan to disclose patentable concepts or materials with significant details that would jeopardize intellectual property rights. However, due to the complexity of intellectual property laws, it is recommended that contestants seek competent legal counsel if they have specific issues or concerns related to intellectual property matters.

The Business Plan Competition Committee may use the 50-100-word summary, as well as competition photographs or video, for the purpose of promotions and press releases. Competition submissions, including video taken during the competition, may also be used by the Gigot Center for educational uses and future competition training purposes.

Please note that as part of the business plan competition, the University of Notre Dame reserves the right to review all entries to determine whether it maintains any interest in the ideas. This situation typically occurs in those cases where proprietary technology has been developed using University resources, such as faculty research, University grant money or student work while in paid positions through the University. The University will also review ideas that could include use of Notre Dame trademarks, such as the interlocking ND, leprechaun or other University marks protected under copyright and trademark laws.

If you have further questions regarding the competition’s intellectual property policy, please contact the Gigot Center at 574.631.3042.

Please note that all team members must submit the waiver and release form that is part of the registration packet. Modifications to a team’s composition can be made throughout the competition, as long as any new members provide a signed waiver and release form. Team member changes may affect the team's classification as an undergraduate student, graduate student or executive MBA/alumni/open division team. If a business entity is involved in the business plan submission, an official representative from the entity must also sign on behalf of the company.

The entry fee for alumni participation in the Business Plan Competition is $100 per team, payable upon registration. Checks or money orders are acceptable payment forms. Make checks payable to THE UNIVERSITY OF NOTRE DAME and note “Gigot Center Business Plan Competition fee” in the memo line. Please note that the alumni team entry fee is non-refundable, but can be applied to participation in future Gigot Center business plan competitions.

There is no entry fee for teams that include one or more full-time Notre Dame students.