Basics
for
Engineers
by Mike Volker
|
Business Basics for Engineers by Mike Volker |
Competition Mentor: George Mathew george_mathew@telus.net
Updated: 10Nov2007
ENSC201 and BUS477
The Ken Spencer Business Plan competition is will be run for the fifth time this summer. Its purpose is to get undergrad engineering and business students to work together on preparing a business plan.
After ENSC201 teams have been formed, you will enjoy the benefit of added company - i.e. one or two students from the Business Faculty will be assigned to your teams (within a week or two from the start of the course).
Ken Spencer, co-founder of Creo Inc., a local high technology success story (the first B.C. technology company to achieve $1 billion in annual sales), has made a substantial donation to SFU for this competition. There will be prize money awarded to the winners of the competition. Business people and technology people - and students are no exception - tend to work in their own worlds. There are great opportunities for people with different backgrounds, interests and skill sets to work together. After all, successful technology companies require both technology and management professionals. This competition gives students not only valuable experience in this regard - but also a strong financial reward as well.
[Footnote - Ken used to teach the ENSC201 course (then called ENSC300) at SFU.]
Competition Mentor:
A TA has been assigned specifically to assist with this competition. This person will assist with the coordination and management of the competition and will also be available to the students as a business "mentor", providing guidance and assistance as may be requested by students in both classes. The TAs for each course are also available to help students with questions. Don't be shy in asking questions!
Prizes
First Prize: $3,000.00 per team
Second Prize: $1,500.00 per team
Third Prize: $500.00 per team
Entry
All student teams are automatically entered in the competition provided that each team has students from each of the two courses.
Rules
Please refer to the ENSC201 Team Project Information for assistance with your planning and scheduling. The course instructors and TAs will grade and rank the business plans. The top ranked (approx half) will be submitted to a Jury for independent evaluation.
Jury & Judging
A jury panel will evaluate the top 10 finalists. This panel will consist of two outside faculty members as well as an external business person. The judging will be based on the quality of the plan, i.e. thoroughness, discussion, and presentation. For example, how you plan to turn your product into a revenue stream is more important than what the product actually is or what it does.