Launchbox Business Plan Competition

Launchbox Business Plan Competition

Penn State Abington and Invent Penn State invite all Penn State Abington students, area high school students and Abington Township community entrepreneurs to submit applications for the Abington LaunchBox Business Plan Competition.

abington launchbox

abington launchbox

Image: Penn State

This is an opportunity to earn funding and support to launch or expand your enterprise.

Details

Sponsor: Penn State Abington LaunchBox
Eligibility: Penn State Abington students, or student/faculty teams (at least 50% students); individuals and teams from the Abington Township Community

Timeline

February 23 - Deadline for submission to the website for the first round of competition. Website starts accepting applications February 1.

March 2 - First round elimination

March 30 - Final round; additional requirements for submission will be announced for those participating in the final round

Location

PennStateAbington@611, 1475 Old York Rd, Abington, PA 19001

Guidelines

Submission must contain a slideshow (PowerPoint presentation, for example) or pdf explaining the business:

  • a full explanation of what the business is,
  • what the competition is,
  • a SWOT analysis,
  • the target market and its demographics,
  • the business’ location,
  • the reason for the business,
  • sales and marketing strategies,
  • what type of legal entity it is or will be,
  • when it opened or will open,
  • an overview of the industry as a whole,
  • who the management team – including advisors – is or will be,

Video

Submission must also contain a video explaining/demonstrating the product or service by the person or team involved in the business, financials (including start-up capital requirements – unless the business is already in existence, and…three years of sales and profit projections, cash flow, and balance sheets).

Must also answer the question:

If you were to win any of the prize money offered in this competition, how would you use it?

Prizes

  • $3,000 first
  • $2,000 second
  • $1,000 third
  • $500 fourth
  • $500 fifth

All winners receive further services of the Abington LaunchBox and Penn State’s entrepreneurial ecosystem.