ADA Student Business Plan Competition

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Attention ADA Students—Do you have an entrepreneurial spirit and a desire to create your own destiny? Does your future include private practice ownership?

If so, it’s time to get down to business and get your business plan ready, polished and perfected for the ADA 2018 Business Plan Competition. This year’s event will be scenario-based. Participating student teams will all receive the same parameters/storyline, and will be asked to construct innovative, future-facing business plans using variables created by some of the most experienced practice owners and thought leaders in the country.

The deadline to complete the intent to participate is April 2. Contestants must be ADA student members in good standing and must be listed as either 3rd or 4th year students at some time during calendar year 2018.

Finalists will receive an all-expense paid trip to the AuDacity Conference at the Gaylord Palms Resort in Orlando, Florida October 22-24, 2018, where they will present their business plans in person.

The Grand Prize Winner will receive a $5,000 ADA cash grant to be used to advance business objectives and enhance business and leadership skills.

Business plans will be judged based on the following criteria:

  • Creativity
  • Feasibility
  • Completeness
  • Cohesiveness throughout the document
  • Professionalism and polish

Guidelines

Prior to submitting your application/intent to participate, please review eligibility requirements and submission guidelines. The letter of intent to submit must be completed no later than 5:00 p.m. Eastern Time on Monday, April 2, 2018. The system will close at 5:00 p.m. Eastern Time, and no submissions will be received after that deadline.

Important Deadlines

  • Monday, April 2nd — Deadline to complete intent form
  • Monday, April 16 — Scenario Released to Participants
  • Friday, June 15 — Deadline to submit Written Business Plan online
  • Monday, July 2 — Notification of Semifinalists
  • July 16 – July 20 — Interviews and Feedback to Semifinalists
  • Wednesday, August 1 — Deadline to submit revised Written Business Plan online.
  • Monday, August 20 — Notification of Finalists
  • Monday, October 22 — Presentation Practice Session
  • Tuesday, October 23 — ADA Open Student Business Plan Competition

General Notices

  • Use of Materials: ADA reserves the right to use material prepared for the Competition in publicizing and promoting the event. ADA may use these materials in any printed materials and any videotape or other medium that it may produce. ADA may videotape any portion of the Competition and utilize these tapes in any way that its sees fit.
  • Entry Fees: The ADA Business Plan Competition does not have an entry fee.
  • Changes to Competition Rules: While not anticipated, these rules and prizes are subject to change at the discretion of ADA. ADA and its staff and volunteers have the right to interpret these rules according to their own judgment.
  • Decisions regarding the Competition and the Winners: All decisions regarding the competition rules, procedures, and processes are at the sole discretion of ADA. Changes and/or interpretations of these rules may be made by the ADA any time. The decision of the participants, semi-finalists, finalists and winner are at the sole discretion of the judges and the ADA. Best efforts will be made to make decisions in accordance with this Official Rules document.

Eligibility Requirements

  • Student Enrollment: The competition is for students enrolled in an Au.D. Program at an accredited university. Students must be ADA student members in good standing.
  • Nature of Ventures: The ADA Business Plan Competition is for the development of new, independent audiology practices, which are innovative and future-oriented.

General Guidelines

  • Non-confidentiality: All sessions of the competition, including but not limited to oral presentations and question/answer sessions, are open to the public at large. Any and all of these sessions may be broadcast to interested persons through media which may include radio, television and the Internet. Any data or information discussed or divulged in public sessions by entrants should be considered information that could possibly enter the public realm, and entrants should not assume any right of confidentiality in any data or information discussed, divulged, or presented in these sessions.

    Due to the nature of the competition, we are not able to ask judges, reviewers, staff, or the audience to agree to or sign non-disclosure statements. ADA cannot guarantee that other individuals will not obtain access to electronic or hard copies of the business plan. All presentations are open to attendees, and some presentations may be videotaped. Attendance by media personnel is expected.
  • Copyrights & Permissions: If a contestant s use copyrighted materials and/or images from a third-party in their submissions or presentations, they must obtain permission and authorization in advance from the owners to use this material.

Written Business Plan

  • Written Business Plan Submission: A complete written business plan from the confirmed second round participants will be due on or before 5:00 p.m. Eastern Time on Monday, June 12 (more information will be distributed to selected second-round participants).
  • Minimum Contents of the Written Business Plan: your business plan should include
    • Cover Page
    • Executive Summary
    • Company Description
    • Market Research
    • Product/Service Line
    • Marketing & Sales
    • Financial Projections
    • Supporting Information
  • Appendices: should be included only when they support the findings, statements, and observations in the plan. Because of the contestants participating in the competition, judges may not be able to read all the material in the appendices. Therefore, the text portion of the plan must contain all pertinent information in a clear and concise manner.

Oral Presentations

  • Venture presentations will take place on Tuesday, September 26 at the AuDacity Conference in Uncasville, Connecticut.
  • Equipment: Finalists should plan to bring a copy of their presentation on a zip drive or CD. The presentation room is equipped with a large-screen projector and a room PC to run the presentation. You may also connect your laptop directly to the projector to present.

 

Suggested Resource Materials for Review in Completing the Business Plan

 

Additional information for completing your Business Plan is available for review here. You can also watch our Business Plan Competition Informational Webinar below.