6th Annual West Virginia High School Business Plan Competition
Hosted by the WVU College of Business & Economics
BrickStreet Center for Innovation and Entrepreneurship and WV Secondary Education
Some of West Virginia’s greatest challenges can become its greatest opportunities. The WV High School Business Plan Competition’s goal is to work collaboratively to help move the state forward by engaging young minds to solve West Virginia’s greatest issues. The future of our state is at hand, and we are working to involve young talent from across the state to share their ideas.
2018-2019 Rules and Regulations
Open to all juniors and seniors in high schools and career and technical centers in the state of West Virginia. Teams may consist of one to three members.
6th Annual West Virginia High School Business
Enter on: ReviewR site for submission
Create a Team (1-3 members) – *Students may only submit one entry per year.
The business plan entry must be:
- Submitted on the available template
- Submitted electronically via ReviewR
- Focused on improving West Virginia
- First submission due by NOON on December 7, 2018
Templates can be filled out based on the following information:
1. Value Proposition
- What value do we deliver to the customer?
- Which one of our customer’s problems are we helping to solve?
- What bundles of products and services are we offering to each Customer Segment?
- Which customer needs are we satisfying?
2. Customer Segments
- For whom are we creating value?
- Who are our most important customers?
3. Customer Relationships
- What type of relationship does each of our Customer Segments expect us to establish and maintain with them?
- Which ones have we established?
- How are they integrated with the rest of our business model?
- How costly are they?
- Through which Channels do our Customer segments want to be reached?
- How are we reaching them now?
- How are our Channels integrated?
- Which ones work best?
- Which ones are most cost-efficient?
- How are we integrating them with customer routines?
5. Key Activities
- What key Activities do our Value Propositions require?
- Our Distribution Channels?
- Customer Relationships?
- Revenue streams?
6. Key Partners
- Who are our Key Partners?
- Who are our Key suppliers?
- Which Key Resources are we acquiring from partners?
- Which Key Activities do partners perform?
7. Key Resources
- What Key Resources do our Value Propositions require?
- Our Distribution Channels? Customer Relationships?
- Revenue Streams?
- Types of Resources
- Physical (pant, property, and equipment)
- Intellectual (brand patents, copyrights, data)
8. Cost Structure
- What are the most important costs inherent in our business model?
- Which Key Resources are most expensive?
- Which Key Activities are most expensive?
9. Revenue Streams
- For what value are our customers really willing to pay?
- For what do they currently pay?
- How are they currently paying?
- How would they prefer to pay?
Each question will be scored 1-10, 9 total questions. Ten (10) teams will advance to the final competition. Finalists will be announced by December 21, 2018. Notifications will be made via e-mail as well as posted on our website and social media accounts.
Finalists will be paired with a business coach (volunteer). The coach will mentor and support the student in developing a complete business plan for his/her idea. This person can be a teacher or business leader in the community of that region Teams will participate in the Finalists Workshop on February 9, 2019, at West Virginia University. Teams will meet and work with marketing, financial, legal and business professionals on their business idea. They will learn valuable information, related to starting a business in West Virginia.
*Teams will be responsible for their own travel expenses to the workshop.
High Tech Consortium – April 12, 2019, Fairmont, WV
- Final Business Plan must be 15 pages’ maximum
- Double spaced, 12 pt. font
- Include Cover Page (no name(s) or school should be mentioned)
- Submissions must be submitted by the team leaders on-line via Reviewr
- Must be saved and submitted as a PDF file
Teams will turn in their final business plan by NOON April 5, 2019.
Final judges will be able to grade business plans using the data management system ReviewR before they attend the final competition. The final competition will be held in Fairmont at High Tech Consortium.
*Students will be responsible for all transportation and lodging associated with participating in the Statewide High School Business Plan Competition.