In partnership with Yakima Valley SCORE, YVCC's Business Administration Program is providing a unique​ opportunity for YVCC students. This multi-phase competition will be held throughout fall and winter quarters and allows students to compete for cash and prizes.

 

Phases:

Phase #1 September 25-November 6: Application/Executive Summary

During this phase potential participants will write a brief personal introduction and description of their business/innovation idea. They will then present their idea to judges. On October 2 participants will sign up with a personal SCORE counselor, who will help them throughout this competition. On October 9 at 1:00pm all participants will participate in a workshop at YVCC's Entrepreneur Resource Center, 1105 S. 13th Ave.  This first workshop will feature an introduction to the business plan, with business plan components, SWOT analysis, how to write executive summaries, and how to give an elevator pitch.

 

Phase #2 November 7-January 22: Marketing/Management

During this phase participants will create a marketing and management plan for their proposed business. On November 13 at 1:00pm all participants will participate in the 2nd workshop at YVCC's Entrepreneur Resource Center, 1105 S. 13th Ave which will focus on marketing. On January 22nd, participants will create a business showcase for their idea, and display the information in the YVCC's HUB, 1015 S. 16th Ave. All students will then have the opportunity to view the participants business/innovation ideas and vote for their favorite.

 

Phase #3 January 23-February 26: Final Business Plan/Financial

During the final phase of the competition participants will focus on their final written business plan and will learn about writing the financial portion. They will also participate in a 3rd workshop held January 29 at 1:00pm in YVCC's Entrepreneur Resource Center, 1105 S. 13th Ave, which will focus on writing financial statements and making financial estimates and calculations.  

 

The winners will also be announced on February 26.

  

Eligibility Requirements: Participants must be YVCC students enrolled for both competition quarters. In order to be eligible for prizes, participants must complete all three business plan competition phases, attend all workshops, and enroll with and engage with a SCORE counselor. All business/innovation ideas must be original and, aside from the use of the SBA business plan template, must be fully completed by the participant (no other outside help, other than SCORE counselor guidance is accepted). Participants must complete all phases of the competition by the deadline dates listed. Participants do not have to actually start the business.

 

Judging: Participants will be judged on the following areas: 

1.  Creativity and originality (depth and breadth of detail within the business plan components and phases, originality of business idea, and innovativeness); 

2.  Completion and comprehension (education is important, as participants will demonstrate their acquired knowledge through phase interaction, accurate use of template, and proper execution of business plan components); 

3.  Participation (the participant must engage with SCORE counselor and attend all workshop functions, did they ask meaningful questions, etc.); 

4.  Overall presentation of plan through all three phases (written executive summary and elevator pitch, marketing/management plan and business showcase, and final written business plan).

Prizes: The prizes include: 

1st Place      Tablet PC

2nd Place    Gift Certificate to the YVCC Bookstore

3rd Place     Kindle

In addition, there will also be numerous gift cards given away and raffled throughout the process.

 

Important Dates:

  • September 23 - October 4: Sign Up to complete on both the Yakima and Grandview campuses.
  • September 25 at 1:00pm: Introduction & Competition Presentation, Location: C160 in Yakima and ITV to Grandview in ​L126.
  • October 2 at 1:00pm:  Sign Up with a SCORE Counselor, Location: Entrepreneur Resource Center.
  • October 9 at 1:00pm: Workshop 1: Introduction to the Business Plan, Location: Entrepreneur Resource Center.
  • November 6 at 1:00pm: Phase I Deadline (elevator pitch, written executive summary), Location: Entrepreneur Resource Center.
  •  November 13 at 1:00pm:  Workshop 2: Introduction to Marketing and Operations, Location: Entrepreneur Resource Center.
  • January 22: Business Showcase, Location: HUB
  • January 29 at 1:00pm: Workshop 3: Introduction to Financial Statements; Location: Entrepreneur Resource Center.
  • February 26 at 1:00pm: Finale and Competition Wrap-Up (top prizes are awarded), Location: Entrepreneur Resource Center.

 

About SCORE: SCORE is a nonprofit association dedicated to educating entrepreneurs and helping small businesses start, grow, and succeed nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA), and has been mentoring small business owners for more than forty years. Yakima Valley SCORE is made up of a diverse group of professionals and entrepreneurs who volunteer their time and expertise to help you start and grow your business. They provide free, personalized counseling to help you start and operate a successful small business. They also provide workshops for a modest fee for new businesses and aspiring entrepreneurs. The one-on-one counseling helps businesses to identify management problems, determine causes, and propose solutions to these problems. Counselors can also assist by evaluating business plans, marketing, and finances. Information provided by: www.yakimavalley.score.org

 

For additional information​ contact 574. 6800 x 3226 or beubanks@yvcc.edu