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2023 Business Plan Competition Desired Outcomes
Includes: Target Market, Industry Focus
Article By Antonio James, MIQ
June 1, 2023, 12:59 pm
Its the job of the Administrators to ensure the school hits its desired outcomes for the year.
Target Market:
The target market for the online business plan competition focused on street smarts can include aspiring entrepreneurs, small business owners, individuals from marginalized or disadvantaged backgrounds, urban communities, and those with a passion for leveraging practical knowledge and street smarts in their entrepreneurial pursuits.
Industry Focus:
While the competition can be open to diverse industries, it can particularly emphasize industries prevalent in urban environments, such as retail, hospitality, food services, e-commerce, social impact enterprises, technology startups, creative industries, and any sectors that are relevant to the challenges and opportunities associated with urban living.
Desired Outcomes:
- Empowered Entrepreneurs: The competition aims to empower individuals by providing them with resources, mentorship, and recognition for their street-smart business ideas, fostering a sense of confidence and motivation.
- Innovative Business Solutions: The desired outcome is the identification and promotion of innovative business plans that leverage street smarts and practical knowledge to address urban challenges, spur economic growth, and drive social impact.
- Networking and Collaboration: The competition seeks to facilitate networking opportunities, collaboration, and knowledge exchange among participants, judges, mentors, and industry experts, enabling connections that can lead to potential partnerships and future ventures.
- Increased Financial Inclusion: By encouraging business plans that focus on financial literacy, access to capital, and innovative financial services, the competition aims to contribute to increased financial inclusion and empowerment of entrepreneurs with street smarts.
- Community Impact: The desired outcome is to inspire and support business ideas that have a positive impact on urban communities, fostering economic development, job creation, and social progress.
- Recognition and Exposure: Participants have the opportunity to gain recognition, exposure, and credibility for their street-smart business ideas through the competition, which can open doors to funding opportunities, partnerships, and media attention.
- Entrepreneurial Skills Development: The competition aims to provide educational and skill-building opportunities for participants, enhancing their entrepreneurial skills, business acumen, and problem-solving abilities.
- Inspiration and Motivation: The desired outcome is to inspire individuals with street smarts to pursue entrepreneurship, showcasing success stories and demonstrating that practical knowledge and resourcefulness can lead to business success.
- Long-term Support: The competition may aim to provide ongoing support and resources to selected participants, beyond the competition period, to help them further develop and implement their street-smart business plans.
- Overall Economic and Social Impact: The ultimate desired outcome is to contribute to economic growth, social inclusion, and positive change in urban environments by fostering a culture of street-smart entrepreneurship and supporting businesses that address urban challenges.
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