PROSPERITY CUP 2017-18 BUSINESS IDEA FORM SECTION 1: BACKGROUND INFORMATION 1. Please choose one option: a) This is a new business idea b) I am currently running this business Businesses operating for more than 3 years are not eligible. 2. If you are currently running a business, when did you start this business (mention the year of launch e.g. 2011 etc.) 3. What is current name/ proposed name of your business/ business idea?. 4. Profile of Your Team # Full Name Gender Age (years) I M/F District Phone # Highest Education Role in Team Are you a Business Partner or an Employee? Will you work Fulltime or Part-time? Previous Experience (# of years of experience in similar roles) II III IV M/F M/F M/F SECTION 2: YOUR BUSINESS IDEA 5. What is your business idea? What is the problem that your business idea/ business is trying to solve? Answer to this question will make an overall case for your business idea, product and/ or service. (300 words max.)
6. Have you validated this problem? What is the scale of this problem? What is the geographical scope of the problem? How many people/ households/ institutions etc. face this problem? Provide statistics to substantiate the existence/ scale of the problem. (400 words max.) SECTION 3: VALUE PROPOSITION OF YOUR PRODUCTS AND/OR SERVICES 7. What is your proposed solution to this problem? Identify & List down all products and/ or services that you are proposing to offer as a solution as well as its key features? (300 words max.) 2
8. What is new, innovative and/ or different about what you are doing? Are there any existing or potential competitors? (list them) Briefly describe the key features of product/services offered by the competitors. Why should customers prefer to buy your product/ service? (price, quality, no competitor exists etc.) (300 words max.) SECTION 4: YOUR CUSTOMERS/ TARGET MARKET 9. Who are the target customers of your product(s) and/ or service(s)? What are their key features in terms of their type (individuals/ companies/ institutions etc.), geographic location, social & economic status, profession, rural/ urban/ peri-urban etc.? (300 words max.) 3
10. What is the estimated size (population) of your target customers (disaggregated by geographical location)? How many customers would you be aiming to reach by the end of 1 st, 2 nd, 3 rd, 4 th and 5 th year of business operations (your total market size)? (300 words max.) SECTION 5: MARKETING & SALES CHANNELS 11. How would they hear about your products and/ or service? How would you raise awareness and market your products and/ or service to your target customers? Identify the proposed channels/ methods of marketing for your each product? (300 words max.) 4
12. How would you sell your products and/ or service to your customers? Identify all channels/ methods (online sale, retail shops, exhibition stalls, etc.) that you would use to sell your each product and / or services. (300 words max.) SECTION 6: INPUT/COST STRUCTURE 13. What are the key inputs (raw material required to make your product/ service, human resources, physical assets such as building, equipment, and utilities/ infrastructure such as electricity, internet etc.) required to make/ develop your product/ service? List all inputs & infrastructure required to develop your product/ service. (300 words max.) 5
14. What are the some of the major costs involved/ projected to be incurred in your business model? What key inputs and activities are most expensive? (300 words max.) SECTION 7: REVENUE STREAMS 15. How would you be making money (subscription, direct sale, commission etc.)? When would your business recover all the expenditure and start making money (breakeven period)? (Identify the # of years required to breakeven and achieve profitability). (300 words max.) 6
16. What would be the sale price of your each product and/ or service? What is your proposed gross profit margin for each product and/ or service? How have you determined the sale price for each product and/ or service? (300 words max.) 17. What would be your total sale (quantities & revenue) for each product/ service (in Pak Rupees) by the end of 1 st, 2 nd, 3 rd, 4 th and 5 th year? 7
SECTION 9: TEAM 18. Why do you think you/your team will be capable of leading the idea to success? Who is your team? Have you or any of your team member run a business in the past or worked as employee in a similar enterprise? (300 words max.) SECTION 10: INVESTMENT REQUIRED 19. How much total investment you need to launch/ scale up your new/ existing idea? Where and how will you be spending the money? List down specific activities for which you need investment? (300 words max.) 8
20. How much money will you and your team invest in the business (in terms of cash, labor, land etc.)? Where and how will you be spending your own money? (300 words max.) NOTES Who can enter the Competition? The competition is open to all participants from Gilgit-Baltistan & Chitral (in or outside the region) who meet the following criteria: Your business idea must be a new idea or an existing business with less than 3 years of operations. Not-For-Profit ideas will not be accepted. Each person/team can submit ONLY ONE idea. Submission of multiple entries/ideas may result in disqualification. SUBMITTING YOUR IDEA Idea forms are available and can be submitted at www.accelerateprosperity.org. Idea forms are also available at Local Support Organizations (LSOs), regional, district and area offices of AKDN agencies (AKRSP). All forms can be submitted at LSO offices, regional district and areas offices of AKRSP. Note: Selected applicants will be notified by email and phone. Only complete idea forms will be considered. KEY DATES Application Start Date: 21 st September, 2017 Application Submission Date: 21 st October, 2017. SCREENING & SELECTION Our panel of judges, who are established entrepreneurs and experts, will evaluate your business ideas against the following: A unique and/ or innovative value proposition of your business idea, A clear market niche, A strong execution strategy, Realistic competitive advantage, Sound target market and customer base, Strong revenue and profit models, Strong and coachable team, Potential for scalability and growth, Potential for employment creation. All decisions regarding the criteria will be made solely by the judges. Decisions of the judging panel would be final and binding in all respects. 9