Business Plan Competition

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Business Plan Competition for Round Rock Entrepreneurs

Do you have an entrepreneurial dream? The Round Rock Public Library is delighted to announce a Business Plan Competition for Round Rock-based startup entrepreneurs. The final six individuals or teams will present their business plans to a panel of judges, and prize money will be awarded to the top two entrants.

The goal of this competition is for entrants to gain practical insights about starting and growing a business using the array of small business resources available at Round Rock Public Library.

From the sidewalk lemonade stand to the giant corporation, every business wants to find more customers. Round Rock Public Library invests in powerful print and electronic resources like Gale Business Plan Builder, Demographics Now!, and Reference Solutions to assist business owners in answering these vital questions:

  • Who are my competitors?
  • How do I find new sales leads? 
  • How do I research the purchasing behavior in a specific zip code? 
  • How do I create a business plan? 

This competition is a win-win for all entrants, because in the process of competing, each entrepreneur will have created a business plan. The business plan is not merely a requirement to obtain financing; it is an essential document to guide a company’s operation. By defining their unique sales propositions and marketing plans, entrants will be better able to achieve their goals and sustain long-term superior performance.

The Round Rock Library is grateful to our generous sponsors: Dell Technologies, The Round Rock Chamber, Public Library Association, HEB, and the Friends of the Round Rock Public Library.

Prizes

  • $10,000.00 total value ($7500 cash + a Dell Computer worth $2500.00)
  • Consultation with Dell Technology Expert
  • $3,500 cash

Elements of a Business Plan

What is a Business Plan?
The Business Plan is perhaps the most important document an entrepreneur can create. The Business Plan helps guide the direction of the company’s first several years in business and gives potential investors an idea of the company structure, goals, and future plans. Companies at all levels of success create business plans. It is a working document that should be updated on a quarterly or yearly basis.

Rules and Eligibility

Entry Form  
Competition entrants must complete an online entry form to enter the RRPL Business Plan Competition. 

Library card  
All entrants need to possess a Round Rock Public Library card to access the online library resources required to enter the RRPL Business Plan competition. 

Age  
All RRPL Business Plan Competition applicants, whether individuals or members of a team, must be 18 years of age or older. Documentation may be required. 

Location 
The business proposed in the RRPL Business Plan Competition entry form must operate in Round Rock.  

Residency 
All individual applicants and team members must be legal residents or U.S. citizens. All individual applicants and/or team leaders must have a legal residence in Round Rock. Documentation will be required of the finalists.  

Start-Ups Only 
All businesses must have ideas or business models in the start-up phase. Operating businesses that have earned more than $10,000 in revenue are not eligible to enter the competition. 

For-Profit Businesses Only
RRPL Business Plan Competition is a business plan competition for For-profit businesses. Non-profits are not eligible to enter. 

Individual and Team Entry 
RRPL Business Plan Competition entrants may enter only once, either as an individual or as part of a team. If entering as a team, the team must appoint one individual as the team leader and main contact, and one other as the secondary contact. The team leader must be a resident of Round Rock. The team leader’s entry form must list all individuals on the team.  

Entry Form  
Entry forms must be submitted on the RRPL Business Plan Competition site no later than 11:59 PM on March 31, 2022. 

Meet with a Round Rock Librarian  
Each applicant must meet at least once with a librarian before March 15, 2022. Please contact Geeta Halley, Assistant Director via email to schedule an appointment. Email address: ghalley@roundrocktexas.gov 

Meet with a SCORE AUSTIN mentor  
Each applicant must meet at least once with a SCORE AUSTIN mentor during the Competition. Click here to schedule an appointment with a SCORE mentor 

Deadline  
Your Business Plan must be uploaded to the RRPL Business Plan Competition site no later than 11:59 PM on March 31, 2022. 

Judging Criteria  
Applicants must read and become familiar with the Judging Criteria and Required Components of your Business Plan. 

Finalists  
Finalists will be asked to provide their 2021 tax return and a Texas driver license or a Texas non-driver ID card. 

Disbursement of Funds 
Prize money will be awarded to each winner following the end of the competition. The winning RRPL Business Plan Competition entrant or team will have sole responsibility for deciding how to allocate or otherwise use its prize proceeds.  

Please Note: The awards are taxable. The winners are responsible for reporting tax withholdings of the prize money. 

Judging  
All decisions of the judges are final. 

Confidentiality 
By the submission of your Business Plan, you understand and agree that the summary page of your Business Plan may be used in public documentation related to the competition. The Library will provide a copy of your business plan to competition staff and judges and will inform them that no additional copies are to be made.  

Disqualification
Violation of any one or multiple rules for eligibility will result in disqualification from RRPL Business Plan Competition at any point. 

Please Note: Interpretation and enforcement of these regulations are in the sole discretion of the Round Rock Public Library and the Round Rock Chamber of Commerce and the decisions of the judges are final. 

Judging Criteria

Please Note: Your Business Plan must be uploaded to the Competition site no later than 11:59 PM on March 31, 2022. 

Round 1 – Technical Review

In this round, your plan is reviewed and scored for format rather than content.  

Entrants will utilize ‘Gale Business – Plan Builder’, Round Rock Public Library’s online resource to create and submit the following documents: 

Please Note:

  • Your Business Plan, including the financials, must be uploaded as ONE (1) file in PDF format 
  • It should be no longer than 20 (one-sided) pages, excluding financial statements 
  • Use Arial font no less than 10pt with 1-inch margins 

Your Business Plan must contain the following: 

  1. A one-page summary to accompany the business plan in the required format 
  2. A cover page with the name of the applicant, street address, telephone number, and email address of the individual entrant(s) and team leader 
  3. Team entries must include the names of all team members, and the street address, telephone number, and email address of one designated entrant 
  4. A Table of Contents 
  5. Page Numbers throughout the business plan 
  6. Detailed Business Plan with each required component 
  7. Financial Projections including 3-year summary balance sheet, income statement, and statements of cash flow. Additionally, the statements should include monthly income statements for year 1 and 2 and a quarterly income statement for year 3. The financials should also include a description of sources & uses of funds, break-even analysis and notes to financials inclusive of financial assumptions 

Please Note: 

  • Points will be deducted from your score if your plan exceeds 20 pages  
  • Round Rock Public Library will not reimburse entrants for any expenses related to the compilation or assembly of your Business Plan 
  • Working models or prototypes will not be accepted 
  • The Business Plans will be destroyed shortly after the competition has ended 

Round 2 – Judges Review

The judges will evaluate each Business Plan based on the following: 

  1. Content of the plan, including the thoroughness and quality of the analysis 
  2. Effective use and impact of the prize money 
  3. Effective use of Round Rock Public Library’s business information and research tools, especially Gale Business – Plan Builder. 
  4. Community Impact 
  5. Viability of business model

Round 3 – Finalist Presentations

Finalists will be notified and required to present their plans to the panel of judges and respond to their questions. The exact date, time and location of these meetings will be provided to the finalists. Winners will be announced at the Awards Ceremony immediately following Round 3. During this round, the judges will evaluate each Business Plan based on the following: 

  1. Clear communication 
  2. The probability of a successful launch 
  3. Quality and effectiveness of the final presentation 

Dates and Deadlines

  • March 15, 2022 Entrants are required to have at least one consultation with a RRPL librarian and, meet at least once with an SCORE Austin mentor prior to March 15th, 2022. Failure to do so will result in disqualification of your application 
  • March 31, 2022 Business Plans must be uploaded to the competition site no later than 11:59 PM  
  • April 1-10, 2022  Round 1 – Technical Review 
  • April 11-20  Round 2 Judges Review The panel of judges will review submitted business plans. 
  • May 3,2022 Finalists will be notified and required to present their plans to the panel of judges and respond to their questions. The exact date, time and location of these meetings will be provided to the finalists 

Winners will be announced at the Awards Ceremony immediately following Round 3.

Library Resources

logo_no_tag_tiny Barron’s Online – Library use only – get password at the reference desk.
Provides a wealth of information about companies, stocks, bonds, and markets.

texshare_logo_tiny Business Abstracts with Full Text
Access key publications, product evaluations, corporate profiles, surveys, and reports.

texshare_logo_tiny Business Source Complete
The most complete source for business journals covering marketing, management, accounting, finance and economics.

Round Rock Library card holders onlyGale Business – Demographics Now | Video Tutorials | 
Provides demographic data, market research and directory information on 17 million businesses and 147 million residents.

Round Rock Library card holders only Gale Business – Plan Builder 
A step-by-step online planning tool for starting, managing and optimizing a business or nonprofit.

Round Rock Library card holders only Gale Virtual Reference Library – Business
A collection of business encyclopedias and specialized reference sources fully searchable across titles.

texshare_logo_tiny Harvard Business Review
The leader in business leadership, human resource management, and decision making.

Texshare database  Investor’s Business Daily
Daily stock market and business news, quotes, mutual fund performance, and market analysis.

Round Rock Library card holders only LinkedIn Learning

Formerly known as Lynda.com
LinkedIn Learning hosts a constantly growing library of thousands of courses to help you pursue personal and professional goals. LinkedIn Learning covers topics for business, web development, web design, photography, education, 3D + animation, and audio + music as well as software like Microsoft Office, Adobe Creative Suite and open source applications. You will need to log in through the library’s LinkedIn Learning site using your library card number and PIN.

logo_no_tag_tiny Morningstar Investment Research Center  | Video Tutorial | 
A tool for financial information, portfolio analysis, and financial news.

logo_no_tag_tiny Reference Solutions | Video Tutorials | 

Formerly known as ReferenceUSA
Access millions of U.S. residential and business phone numbers and addresses. Conduct market and competitor research as well as business analysis by industry or geography.

texshare_logo_tiny Regional Business News
Coverage for regional business publications – business journals, newspapers, and newswires from all areas within the United States.

texshare_logo_tiny Small Business Reference Center 
Covers common business types, business plans, and operations. Videos help foster success in managing a business.

TexShare Database Sustainability Reference Center
Provides full text for industry-leading journals, magazines, books, trade publications and other valuable resources. It addition, it includes expert analyses, benchmarks and best practices in sustainability initiative management selected from worldwide sources.

texshare_logo_tiny Texas Reference Center
Contains Texas magazines and journals in the fields of business, law, education, health, agriculture, natural resources, history, and many more.

Submit Your Business Plan

Contact Us

Questions about the competition?
Geeta Halley
Assistant Director
ghalley@roundrocktexas.gov

Sponsors

Thank you to our sponsors for providing the ‘seed’ money for our Round Rock Rock-based startup entrepreneurs. 

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