Competition

SCOPE
The Rhamp Business Plan Competition is committed to supporting local startups organized within DC, MD and VA. We welcome all entrepreneurs to the second edition of this competition. The entrepreneurs will pitch their business plan to a panel of judges to win prize money to support their ideas. Interested participants will submit their business plans. The plans will be reviewed and assessed by independent judges, and top five finalists will be selected to present their ideas to a panel of judges. The event will take place at JHDC auditorium on Saturday, November 7, 2020 at 11am and will be streamed online.

GUIDELINES
Non-Confidentiality
The competition, including but not limited to oral presentations and question/answer sessions will be livestreamed, thus making it open to the public. Any data or information discussed should be considered information that could enter the public realm, and entrants should not assume any right of confidentiality in any data or information discussed, divulged, or presented in these sessions.

Due to the nature of the competition, we are not able to ask judges, reviewers, organizers or the audience to agree to or sign non-disclosure statements. However, RCDC, the organizers of the Rhamp Business Plan Competition, will make every effort to limit the distribution of business plans presented at the competition, but cannot guarantee that other individuals will not obtain access to electronic or hard copies of the business plan.

Copyrights and Permissions
Competitors who use copyrighted materials and images from a third-party in their submissions or presentations must obtain permission and authorization in advance from the owners to use this material.

Business Plan
A complete written business plan must be submitted by midnight on October 15, 2020. The plan could be an executive summary, but chances of winning could increase with additional information to include:

  • Product or service description (including current status of development – beta, prototype, etc.)
  • Customer/Market analysis (market size and potential market share)
  • Sales and Marketing Plan (how you will go-to-market)
  • Intellectual property status (e.g., patents, licenses, etc.)
  • Competitor Analysis (competitors and your competitive differentiation)
  • Management team or advisors, including relevant experience
  • Financial highlights (cash flow, income statement, and balance sheet)

Please submit an electronic version in Adobe Acrobat PDF. No other format will be accepted. Files should be named according to the following format: RBP_CompanyName.pdf, limited to 20 pages and uploaded on the website.

Final Presentation
Top five finalists will pitch their business ideas for five minutes, after which there will be follow up questions from the judges/panelists. Each finalist’s presentation, including questions and answers, will be for fifteen minutes. The pitch should identify the value proposition, the target market, and the competitive advantage of the business.

ELIGIBILITY REQUIREMENTS

  • Competition is open to the general public (JHDC members and non-members)within the DC, MD and VA metropolis.
  • Competitors may be individuals or team of individuals.
  • Competitors may submit an unlimited number of entries.
  • All potential businesses must be “for profit” entities.
  • The competition is for new, independent businesses in the seed, start-up, or early growth stages.
  • Businesses must be pre-profit and have less than $10,000 in outside investment funding as of December 31, 2019.

AWARDS

  • 1st place – $10,000
  • 2nd place – $5,000
  • 2rd place – $3,000

Sponsors