Criteria and Application

Entry Criteria

Attention DECA Students: Though this may look similar to DECA business plans, these guidelines are slightly different. You will need to change your plan to fit these criteria to be able to submit it.

Student entries should address each of the following criteria specifically:

I. What is the problem your idea or business solves?

• Why does your product or service need to exist?
• What value does it provide for your target audience?

II. What population(s) does it affect?

• Who has the problem you are solving?
• What is the scope? How many people or entities are affected by the problem?
• How does the population currently address the problem? (Example: when the PC was developed there was not a similar product, however, pencil and paper were a competing product)
• To how many potential customers do you expect to offer your solution?
• Of these, how many do you expect to access your solution and why?

III. How will you solve the problem?

• Describe your solution. Be sure to include distinguishing characteristics. What makes it different and more appealing than other existing solutions?
• How will it be created? Is a prototype necessary? Does a necessary technology or process already exist, or will it need to be created? Does someone own the rights to the process?
• How will it be produced? Does it need to be manufactured, developed, authored, other?

IV. How do you know your solution and venture will work?

• What research have you conducted to validate that your proposed customers are both willing and able to access your solution?
• What research have you conducted to validate that your product can be created/produced as proposed?
• What research have you conducted to validate that your solution is not already available to the population you have targeted?

V. What resources are needed?

• Data/additional research: Do you know your market, product, and competition as well as you need to? You may know enough to make the decision to move with the venture, but do you need to know more to be sure that you are efficient and are making the best decisions?
• Facilities: Office space? Manufacturing space? Retail outlet? Computing or other equipment?
• Human: what kinds of expertise are needed to execute your venture? Sales people, software engineers, accounting, etc.?
• Financial: Please include a financial analysis, including at minimum:
  • Projected number of units sold in first year
  • Price of each unit
    • Total Revenue
  • Cost of goods sold (materials to create product/solution)
  • Marketing costs
  • Facility costs
  • Personnel costs
  • Travel costs
  • Prototype development costs
  • Other key costs (list)
    • Total costs
    • Net Income

VI. Other

Is there anything else you would like to share about your idea/business? Please describe and include a statement of why it is important.

For additional help with ideas and organization, see our Resources section.

Application

Submitting Your Entry

• Complete the online application (when available).
• A cover sheet must be attached to the entry. It must include:
  • Full name
  • Telephone number
  • Email address
  • School name
  • Year in school
  • Parent/guardian contact and telephone number
• Entry must be no longer than 10 pages in length, addressing all items listed in Entry Criteria (see above); any additional items may be included in an optional appendix.
• Reports must be typed and/or word-processed and double-spaced, using 10-point or 12-point font.
• 8½ x 11 inch paper only
• Pages must be numbered in sequence (excluding the cover page).
• Entries must be received by the Eller College of Management no later than 5:00 p.m. on February 20, 2007:

  Arizona Youth Entrepreneurship Award
  Eller College of Management
  1130 E. Helen St.
  P.O. Box 210108
  McClelland Hall, Room 204
  Tucson, AZ 85721-0108

  The entry may be mailed in a document envelope or hand-delivered.

• The six finalists will be notified in early March.
• If chosen as one of the six finalists, the student (and an appropriate adult) will travel to the Eller College of Management in Tucson to meet with the student's mentors and present the business idea on April 18, 2008.