Mashup takes top prize in finale
Congratulations to Davis Craig, Ryan Dolan and Frankie Nwafili, winners of the Mayo Business Plan Competition!
2nd place: The Elite Club – Albert Matlock, Anthony Grullon, Dan Bucher and Laura Mendez
3rd place: Flow & Co. – Frank Piazza, Mike Arnone and Pat Chirchirillo
Read more in The Signal: Freshmen win first ever Mayo contest
Read more in TCNJ Magazine: $ocial Network
Read more in NJBIZ: TCNJ freshman hopes fifth, sixth times are a charm
Read about the 2013 Mayo Business Plan Competition here.
| The College’s first-ever school-wide “Mayo Business Plan Competition” is over, and three freshmen have won the $12,000 grand prize for their business idea.Team “Mashup” – economics major Davis Craig, management major Ryan Dolan and biology major Frankie Nwafili – competed alongside two other student teams in the finals on Wednesday, April 4, and ultimately won the favor of a panel of alumni judges with their proposal for an online community where users can create personal online magazines. Read more here. The panel of judges consisted of TCNJ alumni from diverse fields and industries, at advanced levels of expertise. |
Semi-finalists:
Congratulations to the six teams who advanced to the semi-finals:
College Connect: Brandon Knight, Richard Scafe and Robert Cardoso
The Elite Club: Albert Matlock, Anthony Grullon, Dan Bucher and Laura Mendez
Flow & Co.: Frank Piazza, Mike Arnone and Pat Chirchirillo
The Mashup: Davis Craig, Ryan Dolan and Frankie Nwafili
Swift Support: Christopher Matta, Mihir Patel and Michael Ladny
TechnoVation, Inc.: Ryan Belby, Rob Banas and Paul Triantafyllou
Goal
This competition is designed to increase student appreciation for the challenges associated with developing a viable business offering (product or service) while, through an iterative process, recognizing those students best able to articulate a plan that addresses these challenges. In recognition of both the time involved and the difficulty of the task, the competition also provides a suitable award for the successful teams.
Participants
All TCNJ students are invited to participate. Students with ideas that might translate into viable business products or services can come from virtually any School and discipline. The competition is not associated with a particular course. Each team must be comprised of no less than three or more than four current TCNJ students. Upon request some effort will be made to assist any non-business student looking to add a business student to their team (e.g., a student familiar with income statements, marketing, etc.). This assistance notwithstanding, establishing and managing the team remains a student task. At the same time, the competition presumes the teams’ ability to independently determine what constitutes a solid business plan; no instruction will be provided and students are left to their own resourcefulness.
Process
The competition will consist of three phases:
Phase 1: Team submits an initial business plan to be evaluated by professional. (Maximum plan length is 20 pages, double-spaced 11 or 12 font, including all appendixes and supporting evidence.)
Phase 2: A maximum of six teams are invited to revise the initial business plan and give a 20 minute presentation.
Phase 3: Three teams are invited to revise their plans and make final presentations (maximum 30 minutes each) from which a winning team is selected.
Competition Awards
Prizes: A top prize of $12,000 will be awarded to the winning team with prizes of $6,000 and $2,000 for second and third place teams respectively.
Sponsoring Donors: The School of Business thanks Professor Herbert B. Mayo for establishing the Mayo Business Plan Competition and Eric Szabo ’97 for his generous support.
Recognition of Mayo Business Plan Competition logo design
We take this opportunity to thank Professor Chung Chak’s graphic design students for their participation in a related competition to design the logo for the Mayo Business Plan Competition. The winning design (shown above) will appear in print in addition to use on this website, and was created by Elvira Logorda, a talented junior graphic design major at TCNJ.
Timetable
December 1 Declaration of interest - Due on or before Dec. 1st by email to Dean Keep: keep@tcnj.edu
January 22 Deadline extended; plans must be submitted by midnight to Dean Keep: keep@tcnj.edu
February 8 Review of business plans completed; six plans chosen for further development
February 29 Six teams present (20 minutes each) based on revised plans
March 15 Review of presentations and revised plans completed; three teams advance
April 4 Three teams present (maximum 30 minutes each) based on last revision of plans
April 4 First, second, and third place finishers named; awards presented.
Outline
Cover Sheet: Business Name, Address, Phone Number, Principals
Table of Contents
Section One: Executive Summary or Statement of Purpose
Section Two: The Business*
- Description of Business
- Products/Services
- Market Analysis
- Marketing Plan
- Location
- Competition
- Management and Operations
- Personnel
- Application and Effect of Loan or Investment
Section Three: Financial Data
- Income Statements
- Cash Flow Statements
- Balance Sheets
- Assumptions to Projected Financial Statements
*Not all subsections may be necessary.
Source: derived from Small Business Development Center document