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*

1. Description of Business
2. Products/Services
3. Market Analysis
4. Marketing Plan
5. Location
6. Competition
7. Management and Operations
8. Personnel
9. Application and Effect of Loan or Investment

Section Three: Financial Data

1. Income Statements
2. Cash Flow Statements
3. Balance Sheets
4. Assumptions to Projected Financial Statements

*Not all subsections may be necessary.

Source: derived from Small Business Development Center document