Process
Each year BGSU alumni shall be invited to submit written concept proposals for new business ventures.
The concept proposal shall include, but not be limited to, the following information:
- Vision for the new venture
- Why is there a need for the new venture?
- Why is it a business?
- What is the business model and how will money be made?
- A business plan if available (not required)
- Each alumni participant will be required to specify the role they expect to play in the start.
- A personal profile of the BGSU alumni participant and the team will be required.
After submission advisors shall review the concepts and determine readiness to proceed. Due to the nature of the entrepreneurial process, new venture concepts will move forward when they are ready and not necessarily constrained to a fixed timeline.
For no less than 1 month and no more than 6 months the alumni participants shall develop a detailed business plan and market analysis.
Students from the CBA shall participate in the evaluation and research process for "hands on" educational experience.
Each alumni participant and team will have one interim meeting with the Review Board to assure that the team is progressing in a form required for final evaluation.
Final review by the Review Board will be held in early December each year, or at a time specific to plan readiness. At the review each alumni participant shall present their detailed new venture concept. Students and faculty will be invited to the final review pending their signing confidentiality/non-compete agreements.
A celebratory event shall be held where each alumni participant shall receive the determination of the Review Board related to their business plan.
