Congratulations to all our 2023 Business Plan Competition Participants
We saw fierce competition this year and would like to congratulate all participants for all their hard work and dedication.
We are delighted to announce the winning teams of the Foster Garvey Open Collegiate League competition:
- StrapWell – ($5,000)
Congrats to the Business Plan Competition teams moving forward!
Top Foster Garvey Open League Teams Advancing to the Final Presentation Round
- Bionova (Walla Walla University) – building small scalable bioreactors to produce methane biogas and high-quality fertilizer for local communities in Tanzania, Zimbabwe, Brazil, and Peru
- GentleRide Suspension (University of Idaho) – GentleRide is a suspension Using First-Class Lever Design to Reimagine Horse Transportation.
- StrapWell (University of Idaho) – StrapWell is a bag designed to strap and cinch to the top of any tiedown, for secure shipments across the transport industry
- Wasted Hops (University of Idaho) – Wasted Hops is a paper company that produces and sells unique, durable, sustainable, and biodegradable coasters made from the fibers of hops
- PrinTimber (University of Idaho) –
- The Open League of The WSU Business Plan Competition is open to teams from regional universities who are enrolled in the current spring semester. At least one member of your team must be a currently enrolled student, undergraduate, masters, PhD or professional at one of the following universities:
- University of Idaho
- Eastern Washington University
- Central Washington
- Seattle Pacific University
- Seattle University
- Western Washington University
- University of Washington.
- University of Oregon
- Oregon State University
- North Idaho College
- Community colleges of Washington and Idaho
- Cesar Ritz Colleges
- The top five teams from regional universities will be selected from the Screening Round to compete in the Presentation Round of the Open League.
- To enter the competition, a team must complete the online registration. Teams should include members possessing the essential background to enable the development of a serious business plan. Interdisciplinary teams are strongly encouraged. There is no limit on the number of members; however, only four team members can present in the virtual presentation round. Small teams are recommended.
- Teams must submit all required documentation to advance to each stage of the competition. The 4–7-page summary must include a full set of pro-forma financial statements for five (5) years (statement of cash flows with first year by month, income statement with first year by month, and balance sheet). No teams will advance to the Final Round without full financials.
- Advancing teams must send at least one team member to the virtual Team Info Session. Remote access will be available on request for teams at other campuses or enrolled online.
- Must present during the Virtual Presentation Round. Only four members of the team will be allowed to present their idea before the judges during the Presentation Round of the competition. Advisors and other team members may observe, but may not participate in any way during the presentation, Q&A, or judges’ feedback session.
- Advancing teams are invited to present their business in person during the Trade Show. This is a great opportunity to meet and network with judges from various industries and continue pitching your business.
- Advancing teams are also invited to join the Awards Ceremony & Dinner following the Trade Show.
- The business plan must be developed during the student’s tenure at the university. Students working with outside entrepreneurs must create an original business plan.
- The same business idea will not be accepted at the competition more than twice. Repeat submissions after the second attempt will automatically be declined.
- All submissions to the Business Plan Competition must live up to the higher ideals of Washington State University. Your idea must be appropriate for a university-sponsored event. The Center for Entrepreneurial Studies reserves the right to disqualify any entry that in its judgment violates the letter or the spirit of the competition or exceeds the bounds of social convention.
- $5000 Prize money will be divided equally among all registered team members.
View Screening Round Rubric View Written Plan Rubric View Presentation Rubric
Team Registration Opens: January 16, 2023
Team Registration Deadline: March 10, 2023
Executive Summary Due: March 24, 2023
Business Plan & Slide Deck Due: April 14, 2023
Business Plan Competition Presentation Round: April 21, 2023
Business Plan Competition Finals Round: April 27, 2023
Ownership and Disclosure
All participants own the rights to their ideas.
Contestants must properly acknowledge any trademarks or copyrighted materials of others that are incorporated into the contestants’ materials. The contestants are responsible for obtaining any necessary permission before incorporating such materials into their submissions. Once materials are submitted, Washington State University and its schools and colleges reserve the right to publish information about the contestants’ work in university publications and to release information to the news media. The judging/presentation will be conducted in an open meeting with possible attendance by faculty, students and staff as well as media representatives and the general public.
Where applicable, contestants may choose to file patent applications on their own or to disclose their inventions to the Washington State University Research Foundation before or after the competition. Submission of an idea to the competition should be considered a public disclosure of the idea. (In some countries, patent applications must be filed prior to disclosure. In the U.S. inventors generally have one year after disclosure in which to file patent applications.)* Ultimately, protection of sensitive materials is the sole responsibility of the individual or team participating in the competition. *The Competition Rules are based in part on those of the University of Wisconsin Madison, University of Washington, and the Wharton School of Business at the University of Pennsylvania