The 2020 Munich Business Plan Competition is entering Phase 2: Startups can submit their business ideas until March 17. The focus in Phase 2 is on marketing and sales.
While participants were only required to submit a roughly seven-page document or a detailed read deck for Phase 1, the requirements for Phase 2 are more stringent: A rough business plan of approximately 20 pages is required. It should include a short executive summary, a detailed description of the product or service, and an analysis of the market and competition, marketing and sales, the business model and organization, as well as opportunities and risks.
How the Munich Business Plan Competition works
The founders can choose how they submit their business idea. Whether it's a fully written pitch deck or a business plan, it's important that the strategy and planning are presented clearly. A traditional pitch isn't part of the submission. Potential investors must be able to understand from the documents where the business model's assumptions come from and why they are sound.
All participating startups receive comprehensive written feedback on their ideas and business plans from a volunteer jury of experts. The jury is comprised of investors, entrepreneurs, and experts in the startup scene. Joining the competition at any time is possible, as new opportunities to win arise at every stage.
Participants from the first phase of the competition can further refine their business plans in Phase 2, focusing on marketing and sales. The deadline for submitting documents is March 17, 2020. Phase 3 then begins (deadline May 26), at the end of which the startups should have a complete business plan that they can use to present themselves to VCs, companies, and partners.
The five winners in Phase 2 of the Munich Business Plan Competition 2020 will be announced at the 15th Munich Startup Demo Night on 11 May 2020. In last year won Presize, M-Bee and Orbem the competition.
All further information about the application can be found here.
