Â Â Â Â The Pace Business Plan Competition has been hosted by the Department of Management and Management Science in the university’s Lubin School of Business since 2004. The competition takes place every spring semester and is open to both undergraduate and graduate students of Pace, as well as recent graduates (defined by organizers as those who have graduated within the past five years).
Â Â Â Â The contest is not one of the larger competitions in existence. There are no preliminary rounds, just the judges’ determination of three finalists based on the written business plan and executive summary, and the cash prize from winning the competition is only a total of $500. (The two other finalists earn $250 each.)
Â Â Â Â Competitors are advised to have the following categories in their business plans to ensure their completeness: Cover Page, Table of Contents, Executive Summary, Business Description, Objectives, Market Analysis, Product or Service Analysis, Development and Production, Competition, Business Strategy, Marketing Plan, Management, Finances, An investment proposal, Critical Risks and Contingencies, Milestones and Scheduling, and Supporting Information.
Â Â Â Â Additionally, those entering the Social Ventures category should address the following criteria:
Assessing the need, Well-defined target, Matching skills and objectives, Creativity, Feasibility, Sustainability, Social impact.
Â Â Â Â The entire Pace Business Plan Competition event only encompasses a week and a half. The deadline for submission of plans takes place on a Friday, and the judges announce the three finalists the following Monday. The actual contest is the next Monday. There is no description of a presentation or how the winner is determined from the three finalists, or how the money is disbursed after the contest has been completed. The university’s web site simply invites the community to its Business Plan Panel Discussion and Awards Ceremony.