Second Kenneth A. Freirich Business Plan Competition

The Kenneth A. Freirich Business Plan Competition will award prizes valued at more than $25,000 to the Skidmore students (or team of students) who write the best business plans. The prizes are intended to act as a catalyst to help students start a new business or to assist the development of their existing business.

The impetus for this competition comes from Kenneth A. Freirich, Skidmore Class of 1990, serial entrepreneur, and president of Health Monitor Network. Ken returned to Skidmore in October of 2010 as the College's first Entrepreneur in Residence where he issued an "Entrepreneurship/Creativity Challenge" to the student body. Inspired by the impressive talent, creativity, and effort that went into the student presentations, he decided to take things to the next level: launching a business plan competition to foster entrepreneurship, innovation and creativity among Skidmore students. That competition is now in its third year. 

Students will indicate their 'intent to compete' by early October of 2012. They will then be required to participate in a weekly business plan writing workshop conducted by senior Management and Business majors from the Skidmore-Saratoga Entrepreneurial Partnership. The first set of business plans will be due upon return to campus in late January. These business plans will be presented in early February to a panel of experts made up of entrepreneurs, venture capitalists, accountants, lawyers, executives, and members of the Department of Management and Business. The judges will narrow the submissions to a list of finalists who will then spend another month honing their business plans, mentored by alumni who are experts in the field relevant to each business plan and students in the SSEP program. Final presentations of the revised business plans will occur before a panel of judges in mid-April of 2013, and winners will be chosen at the culmination of those presentations.
          
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Thursday, September 13, 7pm : Informational meeting, Murray-Aikins Dining Hall, Rooms 3 and 4

Friday, October 5, 4pm: Second informational meeting, Palamountain Hall, Room 202

Friday, October 12 : Deadline for filing "Intent to Compete"

October 8 - December 6 : Weekly business plan writing workshops

Wednesday, January 23: Business plans due

Friday, February 8: Presentation of business plans and announcement of finalists, Payne Room, Tang Museum

Monday, April 1: Final business plans due

Friday, April 12: Finalists' presentations and awards ceremony, Payne Room, Tang Museum

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The business plan competition is open to all currently enrolled Skidmore students, regardless of their year or major.  Students may submit individual plans or work in a team.

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All business plans should be submitted on a single, printable PDF document.  They should be no more than 10 pages, plus up to 5 pages for financials and appendices.  Plans should include financial data including a monthly income statement, balance sheet, and projected cash-flow statement for at least two years.

Each business plan should include:

  • Executive Summary
  • Company Overview
  • Products or Services
  • Market Overview/Competition
  • Sales and Marketing Strategy
  • Operations Overview with Milestones
  • Management Team
  • Summary - Financials
  • Use of Proceeds
  • Potential Exit Strategies

Creating a Business Plan (PDF)
Creating a Business Plan (PPT)

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Inquiries, submissions of Intent to Compete forms, and final business plans should be directed to Professor Roy Rotheim.



Please note: The cash awards in these competitions are not wages from the College and there will be no withholdings for any required tax payments.  Students receiving awards will receive an IRS Form 1099 early in the following calendar year for the payments indicating the amount of the payment.  A copy of the IRS Form 1099 is sent to the IRS.  Please plan for a tax liability accordingly.  If you receive financial aid, please be aware also that there may be implications for the need-based portion of your award in a subsequent year.