The Business Plan (“How?”… are you going to make it work)
Financial requirements (“Resources needed?”)
2. Product/Service idea
Outline of the problem and its solution
Describe what is innovative about the idea and its unique benefits compared to existing products/services as well as its export capabilities and/or potential impact on the Greek Economy
Refer to how the idea will make Greece more competitive in the international market
Explain the intellectual property situation (e.g., has or can it be protected by a patent?)
Provide additional information further illustrating the value of your proposed product/service
Describe the current state of development and what has been accomplished so far
Describe the impact of the proposed idea on the environment
Describe how the proposed idea will improve the quality of life in Greece (both in social and financial perspective)
Provide more info to strengthen the value of your proposal
3. Management team
What relevant experience and skills do the key people and management team possess?
What is their vision and what motivates them?
4. Target Market
Describe the target market characteristics of the proposed project: Estimate its size, both in national and international level
Outline in detail the competitive advantages of the current proposal vs. existing or competitive solutions in the national and international market.
Describe in detail the duration in time of your competitive advantages. What do you plan to do to preserve them? Define between national and international competition.
Describe the marketing plan (e.g. revenue streams, distribution channels, advertising, and implementation cost)
Provide a forecast of the annual revenue to be produced by the implementation of the proposed idea
Discuss whether the proposed idea will result to new jobs being created in Greece
5. Action plan
Provide a short implementation timetable (basic actions, duration, timeframe, milestones).
Describe the tasks which need to be performed in the short term (next 6 to 12 months) and in the longer term (more than 12 months)
Provide important steps / milestones in the development and commercialization of your product/service
Identify the risks that might threaten the success of the proposed product/service upon implementation and commercial operation phase
How will you minimize the chances of the above risks and how will you deal with their consequences, if they exist?
State the assumptions your business plan is based upon
State in detail the 3 (three) scenarios where your business proposal can be applied following a 5 year projection (estimation); worst, base and best case scenarios; describe the results of each scenario in quantity (revenues - expenses per year, cash flow, net present value, break-even point etc.) and in quality (effect in implementation, initial target accomplishment, market share etc.)
What are the capital outlays until break-even point (what capital is required and when?) Which amount of money will be needed in the worst case scenario?
Where will the capital come from?
If you win, how will you use the prize funds (provide detailed break-down)? Provide as detailed financial projections as possible
State what resources – other than financial – will be required for the implementation of the proposed idea