Team Qualifications: 

• There are two group competitors: the high school level (18 and below) and college level          (21 and below).

• Teams must consist of 1 to 5 members.

• At least one of the team members must be an Asian American.

• All participants must be studying in North Carolina.

Admission fee: No Fees are required to participate in the contest.

Submit your Business Plan Report via this form on Friday, July 19th, 11:59 PM EST.

Business Plan Report Submission​

• Develop a business plan report for a new business that creates a positive impact on society, as this will be an important grading section for your business.

• Number of pages: The report should be no more than 10 pages. The first page should include the competitor names and the business name. The second page must include a table of contents and each page must be numbered.

• Contents:

  • Company Profile: Includes basic details of the business, mission statement, location, leadership organization, and goals.

  • Industry Analysis: Provides an analysis of the larger industry in which the business will belong and analyzes key trends and strategic opportunities in the industry. Includes an analysis of key competition and identifies the business’ relative strengths and weaknesses.

  • Target Market: Provides a brief overview of the nature and accessibility of the targeted audience. Analyzes the market in the context of the business

  • Sales Strategy: Demonstrates how the business’s product or service will be marketed and sold.

  • Management and Organization: Describes the key participants in the new business venture and identifies the role each will play in the business’s development.

  • Financials: Indicate the accounting methodology to be used by the business. Discuss the estimated costs and earnings during a normal year and a projection of future earnings.

  • Long-Term Development: Gives a clear vision of where the business will be in three, five, or more years.

  • Appendix: Includes a works cited page with citations for resources used during research.

• Technology Implementation: to reflect the current market trends and the increased use of technology, artificial intelligence (AI) or other burgeoning computer technology should be utilized as a cornerstone of the business. Describe the benefit of utilizing technology in the business and how it will contribute to the business’s future success.

• All work must be honest and original. AI can be used to generate ideas but no section of the report should be written using AI. All reports will be screened for plagiarism.

• Submissions: https://docs.google.com/forms/d/e/1FAIpQLScS7Y2uSNzoKKyo1qUX-X0fsoSY09haHIH-eRVuK3qKX1ti-A/viewform?usp=sf_link

Presentation​

• Groups will present their projects on July 27th from 2:00 - 5:00 PM at 901 Kildaire Farm Rd Building D2, Cary, NC 27511

• Question and Answer Time: 3 minutes

• Presentation format: PPT or video submission

• In-person presentations are preferred (in Cary, NC), but Zoom is available.

• The judging panel, formed by experienced NCAAC and ILF members, will judge the entries based on the execution of the business plan as well as how much positive impact the business will have on human society.

Presentation time: 10-15 minutes