The competition will be staged in Hilo at Hawaii CC Palamanui Campus.
It will consist of a 3-round process requiring competence in 3 vital business plan formats.
Entrants will be encouraged to enroll in UHH’s Small Business Development Center’s workshops to gain knowledge in business planning.
Entry requires completion of the registration form, payment of $100 to HIplan, and submission of a 7-page written business plan based on our outline (download here) by the Sept 7th deadline (by 11:59pm!).
Judges feedback in each round will help improve the quality of the competing plans selected to advance to the next round (click here to review the HIplan Judging Criteria):
|Round 1: You will be judged on your written 7-page biz plan. The best-written plans will advance to round 2.|
|Round 2: 15 semifinalists will give 12-minute presentations to a panel of judges. The best oral plans will advance to the finals.|
|Round 3: 8 finalists will be judged on biz plan, 2-minute pitch and 12-minute presentation.|
The team with the highest combined total score in the finals will be the winner. Judges for the finals competition will be invited professionals with expertise in evaluating business plans such as VCs (venture capitalists). Invited finals’ judges will be people who could invest in business plans if deemed feasible.
A grand prize of $25,000 in seed money will be awarded to the winning plan.
There is also a Student Tuition Scholarship Business Plan Competition for the best business plan cultivated by students at UH-Hilo and Hawaii Community College/Palamanui Campus. Winners will be awarded tuition scholarships for Fall 2020 and Spring 2021 semesters.
A few items to note:
- Real estate developments are specifically excluded from HIplan competition.
- Awardees of HIplan prize(s) will verify their business is Hawaii-Island-registered and not in violation of Federal, State, or County Laws. They will submit tax clearance and sign a binding award letter contract.
- Prize money will be spent as described in a budget attached to the signed award letter. A followup report six months after the award will be submitted that details expenditures of the HIplan award including original receipts for expenditures.
- Participants in HIplan competition agree that judges scoring and determination of the winner will be final, will not be disputed, and they will hold harmless all judges, support help, and Board of HIplan. (click here to review the HIplan Judging Criteria)