ESP Business Plan Competition

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The mission of The Boston Pledge is to continually develop and perfect processes which enable people in privileged regions to engage and help underprivileged communities around the world. One of the initiatives towards the mission is the Entrepreneurship Springboard Program (ESP) which is designed to locate, educate and cultivate entrepreneurs in underprivileged regions around the world with a focus on socio-economic impact for the service of humanity. The ESP initiative provides opportunities to award project grants for aspiring entrepreneurs throughout the ESP business plan contest.

This event ESP Business plan contest is part of the ESP initiative to provide the opportunity to award grants to carry out impactful business plans aligned with TBP mission. Aspiring entrepreneurs are encouraged to submit their business plans to this essay contest before the deadline. After submitting the proposals, they will be reviewed by a committee. The entries that are shortlisted will be displayed on the website. During the review, the proposals will be read by other members of the community on the platform, who will then vote. The final selection to win the competition is based on evaluation by the committee as well as the community votes. The winners of the competition will be announced after final evaluation.

Rules:

The minimum amount of words is 1,000 and the maximum amount of words is 2,000 words. Exceeding the word count will result in automatic disqualification.

  1. All entries must be in English. 
  2. Only one entry per participant is allowed. Once the essay is submitted participants will not have the opportunity to access it or revise/edit. When submitting please check and revise everything carefully and ensure that all supplementary information is completed correctly
  3. Plagiarism is not accepted and will result in disqualification
  4. The essay must not include personal information about the participant such as phone number and address. 
  5. Essays must be submitted as a Microsoft Word Document or a pdf document. 
  6. All entries must be submitted by the deadline: December 31st, 2019
  7. When submitting the essays participants must agree to the terms and expectations stated in the proposal. It may be published on to the TBP Digital website and read by more than one person. 

Regulations:

  1. Participants must be 16 years or older. If not, one may enter with the express consent of a parent/guardian.
  2. Competition is open to participants around the world and not limited to a certain area.
  3. Any inappropriate/irrelevant content will not be tolerated and may result in disqualification.
  4. All participants must have accounts and be registered with www.tbpdigital.org

Expectations for the Proposal:

The Proposals should include the following:  

  1. Describe your business - what you plan to do, what problem are you trying to solve and how are you trying to solve it.
  2. Who else is in your team and what is their credibility in your area of business?
  3. Have you been an entrepreneur before
  4. Describe your product or service offering
  5. How is your product or service different?
  6. Describe your target customers and how you plan to acquire your first customers
  7. Who are your competitors?
  8. Do you have any sustainable competitive advantage? What will prevent others from copying your idea?
  9. Please provide your income and expense projections for the first three years of your business.
  10. How much money do you need to start a business? How and when do you plan to pay it back?
  11. How do you plan to reinvest the profit into the business?

For a sample entry, click here: https://docs.google.com/document/d/1x4KH1V3Fc0nSYMAddgXnSxn_s4Cybs8Ny17l3aqH_v8/edit?usp=sharing