Silverman Business Plan Competition

The annual Silverman Business Plan Competition, open to Simmons School of Management alumnae and current students, is designed to support women in creating, launching and leading innovative and successful entrepreneurial ventures. The competition builds competence and confidence as it distributes over $20,000 in prizes and in-kind rewards to participants. As part of the competitive process, competition participants work with mentors around their areas of developmental need including business plan development and refinement of the fundraising pitch. Participants also gain access to experts including established entrepreneurs, venture capitalists, angel investors, bankers and lawyers.

The second annual Silverman Business Plan Competition was held on Friday, October 12th at Simmons School of Management and featured presentations from three finalists, followed by an address by Lois Silverman and a reception for all guests.  A judging panel of established entrepreneurs awarded $20,000 in seed money, plus an exciting range of in-kind prizes. This year's winner is Yadumu, LLC, an ecotourism consulting company targeting the African market, created by Jennifer Christian-Murtie '07.

Eligibility

  • The competition is open to all students and alumnae of the Simmons School of Management MBA Program.
  • Plans are submitted by individuals, or a team of individuals. In the case of a team application, the lead applicant must be a SOM alumna or student, and that alumna/student must have a senior leadership (C-level title) role in the organization as well as a significant ownership stake.
  • Recognizing the diverse interests of our students and alumnae, and the mission of the Simmons School of Management, we welcome business plan entries representing for-profit, social, and non-profit ventures.
  • All submissions must be for businesses or organizations that are majority female owned (51% or more).

The Silverman Business Plan Competition is intended as a "seed stage" financing and support event; meaning that it is appropriate for organizations in the launch or pre-launch phase. The goal is to support early development of a new product or service concept.

Judging Criteria

The judges evaluate written plans and presentations on the basis of the following criteria:

  • Demonstrable operational and financial viability and growth potential: In addition to the size of the intended market, this relates to the anticipated employee and/or revenue growth, and the scalability of the idea. Judges look for "big, innovative ideas" that make a major impact in their sectors, and in the world! (40% potential of total criteria)
  • Completeness, consistency, and quality of the plan. (20% potential of total criteria)
  • Leadership that inspires (20% of total criteria):
    • Confidence that the idea can be taken from concept to reality.
    • Incorporation of "Principled leadership" concepts in the business strategy.
  • Management team quality, including demonstrated relevant industry and/or management experience.(20% potential criteria)

Sponsors

The competition also included an assortment of valuable in-kind prizes:

Winner

Jennifer Christian-Murtie, a Boston resident and an American born and raised in Kenya, plans to provide environmental, economic and sustainable development advice to the hotel and lodging industry in Africa. She named her company Yadumu, meaning “long life” in Swahili. Christian-Murtie will develop her company as a 2007 MBA graduate now enrolled in the Certificate in Entrepreneurship program at the Simmons School of Management

Finals Judges

  • Sheryl R. Marshall: Vice-President, Credit-Suisse
  • Indira Patel: President & CEO, New England Office Supply, Inc.
  • Carol A. Vallone: Seasoned technology executive
  • Neal Yanofsky: President of Panera Bread

Acknowledgements

Simmons School of Management is grateful to the generosity of Lois Silverman, for whom the competition is named, and whose gift made this competition possible. We are also appreciative of the Class of 2002 for their generous support of this business plan initiative

 

 

 

2007 Silverman Business Plan Competition




"Being an entrepreneur can be a very isolating thing. This competition not only put me in front of teams of mentors to question, prod, and also conquer — but the event itself was rewarding. It was very rewarding to find people actively excited and engaged about my business."

2006 Silverman Business Plan Competition Winner Michelle Conceison