Participation in round 3 is only open for participants from round 2. 

Prize money: 2 x €20,000 and 1 x € 25,000
Deadline and ceremony: see agenda or sign up to stay informed
In the final round of New Venture you complete a business plan. You build upon the knowledge and feedback you may have accumulated in the previous rounds. Set up you business plan in such a way that is unnecessary to read the entries of the first and second round in order to understand the plan.
 
1. Summary

2. Product, service or technology

• Which problem does your idea solve?
• What is innovative about your product, service or technology ?
• Is it feasible?

3. The Management team

• Who is part of your management team and what are his or her achievements? (Degrees, work experience, success, professional reputation)
• What motivates each member of your management team?
• Will the team in this setting be able to set up a successful company?
• What experience, knowledge and skills does your team lack?
• Who should be added to your team and how?

4. Marketing

• Have you, from the perspective of the consumer, given a clear description of your "Unique Selling Proposition" (USP)?
• Who will be your competitors?
• What substitutes for your business product are already available?
• What customers are you targeting? For what reasons are they particularly interesting for your business?
• What is the size of the total market and how do you expect it to develop?
• What is your forecast for the development of your share in the market, and how much do you expect to sell?
• What will your customer have to pay for your product and why? What will your promotion costs be?
• What distribution channels are you going to use?

5. Business system and organization

• How will your business system be designed? (the necessary activities of your company, use the Starting Up manual)
• What activities and tasks within the business system will be handled in-house and what activities will be outsourced?
• What departments will your business system consist of?
• Which partners will you cooperate with? How is such a cooperation beneficial for you and your partners?
• Apart from the management team, what other staff will be needed to run your business? How are you going to recruit this staff? 

 
6. Realisation of the plan

• What are the most important milestones in the development of your business and when do you expect to achieve these?
• Which tasks are related to each milestone?
• What is the critical path? (use the Starting Up manual).

 
7. Risks

• What risks could negatively affect the success of your organisation?
• How will you deal with these risks and how will you minimise their impact?
• What will be the effect of each risk on your profits and cash flow? (use the Starting Up manual)
• How will your company survive the worst-case scenario?

 
8. Financial projections

• What assumptions underlie your business plan/ financial plan?
• What is the cost price of your product, service or technology?
• Based on the most likely scenario; what is the forecast for your profit and cash flow for the first three to five years. (Differentiate between investment costs and operational costs).
• How large is the company's capital requirement until break-even?
• Where will that capital come from? (self contributed capital versus investors/banks)
• What profits can investors expect?

 
Give a description of your idea on 20 A4 sheets at most (11 pts, spacing 1,5). See the manual 'Starting up, achieving success with professional business planning' for more information.
 
On the day of the third ceremony, the ten best teams are to defend their business plan in front of the jury of New Venture. The jury will then decide who the three winners are. If you are one of the ten best teams, you will be informed in due time and in preparation of the presentation New Venture organizes a pitch training.
 
What does the jury look at when assessing?
Nearly all members of the New Venture Jury are employed by investment companies or financial institutions. They'll evaluate each entry based on their knowledge and understanding of the market. The feedback won't only address the requirements of the respective rounds, it will also tell you what to focus on for a next round. The jury assesses three aspects: innovation, impact and illustration (complete, legible, clear lay-out etc.). They will also ask themselves the question: do I really believe that these entrepreneurs will make it? In addition the jury will take the following points in for their assessment:
 
Market orientation

• Protection (patent, model, brand etc.)
• The competitive advance
• Does it really solve the customers problem?
• Turnover and profitability
• Sustainability
• Functionality
• Introduction speed
• Team capabilities
• Attractiveness to investors
• Support