Tulsa Entrepreneurial Spirit Award Business Plan Competition 2008
Official Rules

This contest is designed to stimulate entrepreneurial activity and greater awareness of the resources available to grow entrepreneurs in Tulsa. All winners will be selected on an objective basis as determined by the criteria set forth below. You must read and comply with these rules to enter the Entrepreneurial Spirit Award Business Plan Competition (the "Competition"). This competition is void where prohibited by law.

Who can enter the Competition?

The Competition is open to all participants who meet the following criteria:

• The plan must be an original idea for a business in operation from zero up to five years in operation.
• Applicants need not be based in Tulsa, but they must agree to establish or expand business operations in the City of Tulsa if they win.
• Company officers/members are 18 years or older at the time of entry and are legal Residents of the United States.
• The business must not have a net worth that exceeds $1 million.
• Company members cannot be directors, officers, or employees of SpiritBank, Tulsa Economic Development Commission or its staff, employees, any immediate family
  members of any of the above are also disqualified.
• Not-For-Profit submissions will not be accepted.

How do I enter?

An Executive Summary of six pages or less (containing, but not limited to business idea, product/service, market, management, sales, and finances) is to be submitted electronically in PDF or Word format via form on www.tulsaspiritaward.com between April 2, 2008 and May 14, 2008.

The judges will review the executive summaries and invite those selected to enter the competition and will be then asked to submit a complete business plan by June 25, 2008.

Those selected to enter the competition will be notified of their acceptance on or before June 4, 2008. If selected for the competition a complete business plan in PDF or Word format format must be submitted via email.

Business Plan Submission Instructions:

Based upon successfully being chosen to participate in the Entrepreneurial Award Competition you will be required to submit a complete business plan including your management team contact information and details of your business concept. Submit it with a copy of your complete business plan (including the executive summary). The business plan should be printed on 8.5 x 11 paper, should not be bound, and should be no longer than 75 pages in total (including supporting documents).

Your plan should contain:

• Cover page with name of owner(s), company address, phone, fax, e-mail, website
  
• Table of Contents (optional)
  
• Executive Summary
  
• Business section that includes but is not limited to: type of business, products/services/proprietary information, regulations, facilities, equipment, location, operational needs, and environmental factors.
• Management section that includes but is not limited to: ownership composition, management structure, managing personnel, key personnel, security, and
  consultants.
• Marketing section that includes but is not limited to: target markets, customer segments, competition, market entry, location, industry trends, methods of
  distribution, promotion, and pricing.
• Financial section that includes but is not limited to: three years of cash flows, income statements, and balance sheets; statement of owner(s)' equity, and use
  of proceeds statement.
• Support documents section that includes but is not limited to: corporate verification, resumes, licenses, and proprietary filings.
• Format of the document shall fit the following guidelines:
  • Font size between 10 and 12 point.
  • You may use any font you like, however, using one of the following will increase the ease of readability of the plan. Recommended fonts include Times New Roman, Arial, and Helvetica.
  • Margins no less than 0.75in, not including header and footer.
  • All pages must be numbered after the cover page.
  • All pages must have either a header or footer stating the name of the business.

All information will be kept confidential. The judges may require verification of certain information during the review of the business plan. Only complete business plans will be considered i.e. plans including the executive summary, business section, management section, marketing section, and financial section.

Any questions regarding submission of business plans should be addressed to the Representatives of the Competition will not respond to direct inquiries regarding the contest other than general administrative questions.

What can I win?

The winners will be determined from all eligible entrants. The winners will be presented awards at the Entrepreneurial Spirit Award Celebration to be held November 18, 2008. Winners must be present to accept awards. All finalists will be expected to participate in or attend the Entrepreneurial Spirit Award Celebration and may be required to make a brief presentation about their companies during the celebration.

The maximum award distribution for the winning business plan shall not exceed $30,000 for First Place, $5,000 for Second Place and $2,500 for Third Place. In addition the winning business plan may receive entrepreneurial/SpiritBank Strategic Partner support, and introductions to additional funding sources. Additional prizes may be awarded to other entrants. Other entrants must be present to accept these awards.

NOTE: There is no guarantee, expressed or implied, that any business will receive an award. Should no entries into the competition meet the entry criteria, should no entry have a reasonable chance for success and should the selection committee determine no winner exists for that year of the competition, no award will be made for that year and the award money will be used for the following year's competition. The odds of winning a prize depend on the skill of the entrants and the number of entries received. All taxes associated with the prize are the sole responsibility of the prize winner. Prizes are not transferable.

How will the judges decide on a winner?

Decisions will be made by a panel of judges consisting of representatives from the SpiritBank Business Resource Center, the Tulsa Economic Development Commission, Tulsa entrepreneurs, and Tulsa business leaders. The judging panel will evaluate the plans on the basis of:

• Reasonable opportunity for success of the company
• Company meets an identifiable need
• Company's strategy satisfies this need
• Company has identified and allocated resources to be successful
• Company utilizes resources effectively
• Company has a believable competitive advantage
• Company has a sound target market analysis
• Revenue and profit models that fit
• Strong, experienced management team
• Contribution to Tulsa's uniqueness
• Realistic timeframe for company growth

The entrants to the Competition will be judged on the merits of their business plans with three presentations made to the panel of judges. The first presentation will include the top twenty five business plans.

The final phase of presentations will include the top seven business plans chosen from the top twenty five. In the event of a tie, the judges will select the plan that has the higher score under "Reasonable opportunity for success of the company." All decisions regarding the criteria will be made solely by the organizers and sponsors. All decisions of the judges are final. These Official Rules and the decisions of the judging panel are final and binding in all respect.

How do I find out if I won?

The winners will be announced at the Entrepreneurial Spirit Award Celebration on November 18, 2008. In addition to complying with the conditions set forth below, as a condition of receiving a prize, each winner must sign an affidavit of eligibility and publicity/liability release. Failure to sign and return all of these forms within 14 days following notification will result in disqualification and an alternate winner may be selected. Non-compliance within this time period may result in disqualification and selection of an alternate winner. Return of any prize/prize notification as undeliverable may result in disqualification and selection of an alternate winner. The Winners list will be available after the official awarding of prizes at the Entrepreneurial Spirit Award Celebration.

What are the other conditions of the Competition?

Other Funding or Competitions. Teams that have already secured funding from any source must disclose the amounts and sources at the time of entry, or as soon as they become aware of any funding commitment during the duration of the competition. Teams that have entered a plan into any other business plan competition must disclose this at the time of entry or as soon as they enter their plan in another competition during the duration of the Competition. Original Work of Authorship. All entries must be original and free from any claim of copyright or other restriction relating to the Competition. Number of Entries. No individual may be included as a "team member" on more than one business plan, and no business may enter more than one business plan.

Payment of Prizes. The cash awards paid by the sponsors/judges do not constitute an investment in the winning business plans. Sponsors/judges will not receive equity in the winning companies in exchange for the prize money. Awards to the winners of the Competition will be issued in the name of the company as set forth in the plan and the sponsors/judges do not assume any liability for any subsequent distribution.

Rights Reserved. Sponsors reserve the right to change these Official Rules at any time, in its sole discretion, and to suspend or cancel the Competition or any entrant's participation in the Competition should unauthorized human intervention or other causes beyond Sponsors' control, affect the administration, security, or proper play of the Competition. No responsibility is assumed and entrants waive all claims for lost, late or misdirected entries, or for any problems of technical malfunction of any telephone or network lines, computer online systems, servers or providers, computer equipment, software, failure of any email or entry received by Sponsors on account of technical problems or traffic congestion on the Internet, the website or any combination, thereof including, without limitation, any injury or damage to entrant's or any other person's computer resulting from any causes, including without limitation downloading any materials in the promotion.

Entrants who violate these Official Rules, tamper with the operation of the Contest or engage in any conduct that is detrimental or unfair to Sponsors, the Competition, or any other entrant (in each case as determined in Sponsors' sole discretion) are subject to disqualification from entry into the Competition. Sponsors reserve the right to lock out any entrant whose eligibility is in question.

Release and Waiver. By entering, participants, without limitation, release and hold harmless Sponsors, and their respective directors, officers, employees, and agents from any and all liability for any injuries, loss, or damage of any kind in connection with the Competition. By entering this Competition, you agree to waive any right to claim ambiguity or error in these Official Rules or in the Competition itself.

If you have any questions about these Official Rules or the Competition, please contact

Who are the sponsors of this Contest?