Have you missed the deadline of the first round but still plan on participating in the second round? Send a description of your idea to info@newventure.nl before January 31st. We will let you know if we invite you to join the next round.

Prize money: 10 x €1,000
Deadline: 8 February 2012
Award ceremony: 15 March 2012

Between inventing an idea and writing a business plan there are many questions: is my idea is feasible? How will it be executed? Before you start a business, it is advisable to examine the feasibility. In the feasibility study you investigate the following six aspects. These are extensively explained in the Starting Up Manual.

1. Summary (+/- 1 A4).

Pay much attention to your summary. For whom do you write the business plan? For an investor, banker or a potential partner? Make sure he/she can form a good picture of your company and will remember the key messages that are most important to him/her.

2. Description of your product, service or technology

• What kind of product or service do you want to sell? What exactly are you offering?
• To which problems does your product, service or technology provide a solution?
• In what ways is your product, service or technology innovative?

3. Marketing (customers and competition)

A. Customers

• What need does your product satisfy and what will be your positioning strategy?
• Who are your customers and what are they willing to pay for your product, service or technology?
• What is your target market, and how big is it?
• How will you set up your market research?
• What growth do you expect for your market?
• What market share do you think you will reach and within what time frame?
• What is the overal cost of your product, service or technology?
• What are your turnover goals for the first three years? Set milestones.

 
B. Competition

• Who are your main competitors?
• What benefits does your company offer in terms of the existing competition?
• What products, services or technologies could replace yours?

  
4. Intellectual property

• Is it possible to protect your business idea?
• How will you approach the issues of intellectual property and patenting?

 
5. Suppliers, partners and team

• Who are going to be your main suppliers and are they ready and willing to supply?
• Which activities of your business system are going to be carried out by you personally and which activities may better be carried out by or in cooperation with external parties?
• How are you going to shape a possible cooperation?
• Give a short description of the management team and in-house competence. Is all required competence present?

 
6. Realisation of getting started

• Are all relevant dependencies and obstacles well thought through? Think about legal obstacles, public penalties,
  possible certifications and labels.

 
7. Need for investments

• Estimate what funds you need to get your idea on the market;
• Add a programme to this estimate.

Limit your description to the points mentioned above; detailed financial projections will be addressed in the business plan.

Describe your idea on 7 A4 sheets to the utmost including appendices (11 pts, spacing 1,5)

 
Elevator pitch
On the day of the second ceremony, the twenty best teams are to defend their feasibility study to the jury of New Venture. The jury will then, on the basis of the feasibility study and the pitch, decide who the ten winners are. If you are one of the twenty best teams, you will be informed in due time and in preparation of the presentation New Venture organizes a pitch training.