Business Plan Competition

Participants must agree to the following:

By submitting an application and Business Plan to the Southern Illinois 2026 Business Plan Competition Powered by Regions (“Competition”), each applicant listed below agrees to the following conditions: 

Originality of Plan 

The ideas and concepts set forth in the Business Plan are the original work of the applicant(s), and the applicant(s) are not under any agreement or restriction prohibiting his or her ability to disclose ideas or plans to the Competition. 

Compliance with Guidelines of the Competition 

Each applicant has reviewed the Competition Guidelines and by his or her own signature below certifies that this entry and the team or individual it represents complies with the Guidelines and agrees to abide by the Guidelines. Failure to comply with Guidelines will result in entry disqualification and/or forfeiture of prizes. 

Waivers and Releases 

It is the team’s responsibility to protect any proprietary information. Proposals will be handled confidentially, but judges will not be required to sign non-disclosure statements. 

Once submitted, digital and hard copies of business plans become part of the Competition and will not be returned. Applicants are advised to keep their own copies for reference. 

I grant permission to the Board of Trustees of Southern Illinois University and its agents to make, use, copyright and publish news stories, photographs, video or audio recordings without compensation. I grant the right and permission to use the material, including reproduction in publicity releases, slide productions, web site, publications, television productions, or any other media. 

Winners will be responsible for any tax and/or tax consequences of the award. A W-9 form is required.  

All decisions made by the judges on all matters relating to the Competition will be final. The Competition reserves the unrestricted right to interpret these rules, and to alter, amend or change them, in its discretion. 

Applicants must meet the following criteria to participate in the Southern Illinois Business Plan Competition:   

• Be a pre-venture, start-up, or existing for-profit small business.
• Be focused on new or expanded products or services with an identified market need and potential for commercialization, not current business operations.
• Be a business located* in one or more of the following Southern Illinois counties (Alexander, Clay, Crawford, Edwards, Franklin, Gallatin, Hamilton, Hardin, Jackson, Jasper, Jefferson, Johnson, Lawrence, Marion, Massac, Perry, Pope, Pulaski, Randolph, Richland, Saline, Union, Wabash, Wayne, White, and Williamson).  
• Not be a public governmental entity, nonprofit organization, public/private school, or university/college.  

Businesses concerning cannabis, gambling, or lobbying activities, as well as any other activities strictly prohibited by Federal and/or Illinois law, are ineligible for the competition.  

Additionally, past awardees of the Southern Illinois Business Plan Competition Powered by Regions Bank local and regional competitions and employees of the SIU Office of Innovation and Economic Development are not eligible to participate. 

Individuals or teams of up to five members may enter this competition. No person can compete on more than one team. If competing as a team, all members must attend every workshop.

Competitors can only enter one local competition, and the location cannot be changed after submitting the application. While it's recommended to compete in the county of residence or business location, it is not required. If a location has fewer than four participants, entrants will be assigned to an alternate location. 

Businesses must register to become a client of the Illinois SBDC. 

*Business location refers to a headquarters or a significant operating location in the 26 counties listed. 

Competitors must attend and complete all three workshops at their chosen competition location. The workshops will help participants prepare a business plan, business financials, and a pitch. If competing as a team, all members must attend every workshop.

PLEASE NOTE: Failure to attend any workshop by any member will result in disqualification of the entire team. 

Workshop Schedule

1) Business Plan: Participants must use the template provided. The business plan should be no longer than 10 single-sided pages and must use one-inch margins and 12 pt. Times New Roman font. Any attachments or appendices will be counted in the 10-page limit, but the page limit will exclude financial projections. The format and components of the business plan should include: 

• Executive Summary
  • Description of Business 
    • Include a description of the product/idea and how it is innovative 

• Management/Team 

• Market 
  • Include target market(s) and measurable impact in the lives of the target market(s) 
  • Commercialization potential  
    • Industry growth and opportunity 
    • Sales/go-to-market strategy 
    • Business model (how the product/idea will make money)  

• • Marketplace need (how the product/idea solves a problem in the market 
  • Potential competitors and competitive edge 
• Financial Projections; must use template provided in class 
• Use of Funds (Include how competition funds will be used if awarded) 

Business plans are due by 11:59pm the day prior to the Pitch Workshop. An upload link will be provided.

2) Pitch Script: A written pitch script is required and must be submitted by 11:59 p.m. the day prior to the Local Competition. The script should reflect the content of the participant's planned 90-second presentation. An upload link will be provided.

3) Pitch: Participants will deliver a live business pitch of no more than 90 seconds. 

Participants should be familiar enough with their material to deliver the pitch naturally. Reading directly from the submitted script is discouraged and may negatively affect presentation quality. 

Pitch Competition Rules  

• Pitches will be up to 90 seconds in length and will be judged by a panel of up to five judges.   

• Presenters will be allowed 60 seconds to set up. Time begins when the presenter begins to speak or at the conclusion of the set-up time, whichever comes first.  

• Timing prompts will be given during the pitch.   

• At 90 seconds, the time will be called.  

• The use of audio-visual equipment and notecards is not allowed. A single page of notes on the podium is permitted.  
• Props, prototypes, examples, and handouts are allowed and encouraged. Complimentary products and consumable samples are not allowed.  
• Judges will have the option of asking 1 question each immediately following each pitch. The question-and-answer session will not exceed 5 minutes.     

Based on the business plan and presentation, judges will use the following scoring guide to respond to the statements or questions below.   
 

Business Plan (30 points)  

1. The product/service is clearly defined . 

2. Titles, roles and responsibilities of owners and management team are clearly defined. 

3. Target market, need, and impact are clearly defined  (who/where).       

4. Marketing methods and sales platforms/sales channels are identified. 

5. Potential competitors addressed, and competitive edge are identified.        

6. Financial Assumptions are defined and realistic. 

Financials (30 points)  

1. Use of Funds is clearly defined. 

2. Potential source of funds are clearly identified.  

3. Variable and Fixed Expenses are reasonably addressed. 

4. Projected Income is reasonable and based on financial assumptions. 

5. Revenue and Expense growth rates are clearly defined. 

6. Cash Flow remains positive (Yes = 5; No = 0) 

Pitch (40 points)  

1. Pitch includes the following topics (10 pts x3) 

1. Attention Getter/Hook
2. Introduction of Self
3. Introduction of Business/Idea
4. The Problem
5. Description of Customer/Market
6. Description of Competition
7. The Solution
8. Qualifications and Team
9. Funds Needed/Use of Funds
10. The Close/Call to Action

2. Pitch was delivered clearly, at a proper volume, and at a good pace (10 pts)

Local Competitions will determine who proceeds to the Regional Competition. Two winners per location will be selected to advance to the Regional Competition. Winners of the Local Competition can review judges’ feedback and update their pitch prior to the Regional Competition. 

Competition Schedule

The Regional Competition will be held on November 19 at 5:30pm at the Dunn-Richmond Economic Development Center, 1740 Innovation Drive, Carbondale, IL 62903. The Regional Competition will follow the same format as the Local Competition. Participants will give their 90-second pitch to a panel of up to five judges.  

Regional Competition and Awards Ceremony

Winners will be announced at the Innovation and Entrepreneurship Showcase on December 3 beginning at 4:30pm at SIU’s Dunn-Richmond Economic Development Center. Participants are not required to be present to win but are encouraged to attend for publicity. Checks will be issued 4-8 weeks after the showcase.  

Regional Competition and Awards Ceremony

Awards  

Award money is to be used towards business goals. Awards are as follows: 

Local Competitions  

• First Place 
  • $1000 

• Second Place 
  • $500 

Regional Competition  

Cash prize amounts and in-kind donations will be confirmed and published prior to the Competition.

• First Place 
  • Up to $5,000 

• Second Place 
  • Up to $3,000 

• Third Place 
  • Up to $2,000 

One-on-One Business Advising (Optional) 

Participants are encouraged to schedule a one-on-one business advising appointment after each workshop. Participants may schedule an appointment with an Illinois SBDC Business Advisor by calling their local SBDC office. Appointments can be conducted in person, over Zoom or Teams, or by phone. All advising sessions are at no cost and confidential.  

Illinois SBDC at Southern Illinois University in Carbondale (618) 536-2424 

Workforce & Illinois SBDC at Southeastern Illinois College in Harrisburg (618) 252-5400 

Illinois SBDC at Illinois Eastern Community Colleges in Olney (618) 393-3554 

Illinois SBDC & Workforce Development Center at Shawnee Community College in Ullin (618) 634-3364 

Research Requests (Optional) 

Participants may request market research from the SBDC. Those who take advantage of this service will receive an industry report generated by Vertical IQ. Please submit research requests by Friday, October 16. 

Virtual Work Sessions (Optional) 

Optional, virtual group work sessions will be offered during the weeks between workshops via Microsoft Teams. These are intended to allow participants to ask questions. They do not replace mandatory workshops.

Business Plan Virtual Work Session 
Tuesday, October 6, 4:30-5:30pm

Financials Virtual Work Session
Tuesday, October 20, 4:30-5:30pm

Pitch Virtual Work Session
Tuesday, November 3, 4:30-5:30pm

Pitch Practice (Optional) 

Participants can schedule a 15-minute pitch practice before the local competition to present their pitch and receive feedback. Be prepared to deliver the full pitch during the session. Dates and times will be announced.  

Success Stories 

Illinois Small Business Development Center (SBDC) offers no-cost and confidential advising services. We occasionally ask clients for updates on the assistance they received, which helps demonstrate the program's positive impact and sustain its funding. At the end of the competition, participants will be asked for permission to share their success stories, highlighting how SBDC assistance helped their business. This endorsement promotes both your business and the SBDC, showing the positive effects on the local economy and offering valuable exposure.