The Y.E.S. for Arkansas 2.0 business plan competition is an exciting, project-based learning opportunity. The challenge is for students to create a business idea that identifies a current problem in the marketplace, and a new or better product/service that they believe would solve the problem and produce revenue. They then put that idea to test as they tackle real-world research and validation needed to answer questions in the business plan.
All 9th – 12th grade students enrolled in the 2016/2017 school year are eligible, and can compete individually or in teams.
There is no cost to compete, and Y.E.S. 2.0 is completely online. Competitors can be based from the classroom, clubs, or organizations (DECA, 4-H, FCCLA, FBLA, Skills USA, Boys and Girls Clubs, etc.). All teams are required to have a sponsor — either a teacher or AEAF-approved mentor from their area.
Win or lose, all competitors discover new perspectives on entrepreneurship that will serve them well into the future — whether they go to college, go to work for someone else, or start their own businesses and create jobs for others.
Teams planning to compete may submit their Intents to Compete by 5:00 p.m. Friday, March 3, 2017. Business plans are due by 5:00 p.m. Monday, March 13, 2017. Good luck!
How to Create / Reactivate Startup Compete Accounts
To compete in Y.E.S. 2.0, sponsors or a designated team leader must create a Startup Compete account.
Sponsors who agree to mentor more than one team will be able to register all teams for the competition through this account, unless this responsibility has been designated to the team leader. If this is the case, team leaders must add their sponsors to the team’s profile.
At the upper-left side of the page, you will see an orange button with “Register / Login.” Click on this button. A box with a gold strip across the top will pop up on the screen.
If you are new to Startup Compete:
Click the “Create User Account” button on the left side of the box. A page, “Register for a new Startup Compete User Profile” will appear. For the purposes of the Y.E.S. 2.0 competition, please complete the information marked with an asterisk (*):
For the “Roles and Communications” section, the first question asks you to “Select one or more role to describe your relationship with Startup Compete.” You do not need to fill out this section for the Y.E.S. 2.0 competition. Also, uncheck the box for “Notify me via email on . . . New Competitions,” unless you want to receive Startup Compete email.
Next, click “I agree” in the Terms and Conditions, type the letters shown in the image, and click “Save.” Startup Compete will send a confirmation code to the email address you provided. You may either click on the link in the email or enter the validation code given in the email to confirm your account.
After confirming your account, you will be taken to your Startup Compete profile dashboard.
If you have an existing Startup Compete account:
Fill in the information on the right side of the box, “Returning to Startup Compete.” Enter the email address and password used when setting up the account. If you forgot your password, click on the “Forgot Password” link and follow the prompts to get a new password.
(If you have a new email address, or forgot the email address you used to create the account, you will need to start over. Follow the steps above as if you are new to Startup Compete.)
Now that you are set up in Startup Compete, the next step is to file an “Intent to Compete” for Y.E.S. 2.0, even if you are still not sure a team will be ready by the business plan submission deadline. Submitting an Intent to Compete does not obligate the sponsor or teams to the competition.
Note: Depending on your Internet connection speed and/or traffic on the Startup Compete website, pages may be occasionally slow to load. Also, you will be prompted occasionally with a pop-up box asking you to consider publishing your business plan publicly on Startup Compete, or that you can “update your Startup Compete Business Idea to opt-in, include logos, photos, videos and other information.” These are not required for the Y.E.S. 2.0 competition.
Ready to submit your Intent to Compete? Click on the “Submitting Intents to Compete” tab below.
Submitting Intents to Compete greatly helps in preparations for the number of judges that need to be recruited for the competition. If you’re still not sure about a team’s participation by the Intent to Compete deadline, please file one anyway. Submitting intents does not obligate sponsors or teams to the competition.
Also, if all the information needed by the intent is not yet known by the Intent to Compete deadline, submit at least one team member’s name and class and the school information. All team names do not need to be finalized until the business plan is submitted.
NEW Deadline: 5:00 p.m. Friday, March 3, 2017
HOW TO SUBMIT:
You will then be taken back to your profile page. You should see the business name you just entered in the “Business Ideas” tab.
Sponsors must submit an intent to compete for each team. Repeat steps 3–9 above.
1) Business plans must be a minimum of 5 pages, 15 pages maximum.
2) The Cover Page and Table of Contents are not counted as part of the page number limits.
3) With the exception of the Cover Page and the Table of Contents, all pages must be typed in 12-point Times New Roman or Arial font and pages must be numbered. The Cover Page and Table of Contents may be typed in a larger font.
4) Paragraphs can be single- or double-spaced.
5) Page numbers must be included on each page (except the cover page and the table of contents).
Please assemble the business plans in the following order:
Cover Page (5 Points)
Table of Contents (5 Points)
Executive Summary (10 Points)
Clear, exciting, and effective as a stand-alone overview of the business plan; includes brief description of each succeeding section of the plan; can be read in three minutes.
Consider writing this Executive Summary after you have completed the other parts of the plan. Keep in mind this will be the judges’ first impression of the team and the plan. Make this summary confident, convincing, and exciting.
Company Overview (10 Points)
Presents a vision, history, current status, strategy, goals, and objectives for the business.
Product or Service Description (10 Points)
Describes the product or service, its features and benefits, and explains why the product is better than that of the competitors.
Management Team (10 Points)
Provide roles and backgrounds of key individuals and their history and ability to work as an effective team. Also describe an organizational structure and other personnel needs.
Market and Competitive Analysis (10 Points)
Define the target market and the company’s promotional and sales approaches. Present the growth trends and key driving forces of the industry. Assess the competitive environment and demonstrate market acceptance for the product or service.
Critical Risks (10 Points)
Identify the major internal and external critical risks that could threaten the business (regulatory, environmental, etc.). Present contingency plans to address these issues.
Financials (10 Points)
Provide a statement of funds needed and a projected income statement for three years. Provide a brief rationale as to how the team arrived at these numbers.
Congratulations and good luck!
In addition to bragging rights and a real entrepreneurial experience, there’s also cash, a school trophy, and a certificate for your portfolio or your resume to be gained by entering Y.E.S. 2.0!
See which teams — and their advisors — racked up cash and other awards in previous Y.E.S. 2.0 competitions!