Ohio STEP

STEM BUSINESS PLAN TEMPLATE  

                      

NOTE:  DELETE ALL TEXT IN RED BEFORE SUBMITTING TO YOUR TEACHER.

Expectations:

1. You will use the information from the Action Steps under each SECTION in ProjectBoard to compile your final report.
   

1. Reports must be typed. 
   

1. Write in paragraph form.
   

1. Be clear and concise.
   

1. Proofread carefully. 
   

1. Please avoid using personal pronouns in the text. 
   

1. The title should reflect the contents of the report. 
   

1. Number all pages except for the cover sheet (which is page 1). 
   

1. Upload your completed Plan as a Word docx or pdf into the ProjectBoard Submission Template if you are entering the Ohio STEP competition.
   

Format of report: 

1. Your report must include the section headings (in black) from this template in the order provided. 
   

1. The written report shall not exceed 12 single-spaced, typewritten pages. 
   

1. Reports may be single or 1.5-spaced. 
   

1. Type all pages "flush left” with 1” margins. Do not justify paragraphs (i.e. stretch type to left & right margins). 
   

1. Font size of at least 10 points; preferably 12 points for better legibility except in tables or on graphs, sketches or engineering drawings. 
   

1. We recommend 10, 11, or 12 point Times New Roman, Century Schoolbook, Arial, Calibri, or Myriad Pro
   

1. Do not break pages between headings. Section headings do not need to be numbered. 
   

1. Type continuously, starting on page 2 immediately (on the same page) following the Executive Summary.

Although the Cover Page is the first page, do not type page number on the Cover Page.  The Cover Page is not included in the total paper length.

Part 1.   Cover Page with Elevator Pitch

1. Line 1 Type your full name (if team, type name of each team member separated by a comma)
   

1. Line 2 Type your current grade level (if team, type grade of each person as above with commas)
   

1. Lines 3-4 Type your project title (i.e. Plan name) in Italics
   

1. Line 5 Judging category  (STEM Business Plan and Pitch Video)
   

1. Leave Line 6 blank  
   

1. Lines 7-9 Type Elevator Pitch here (add additional lines as needed, maximum of 3 sentences)
   

An elevator pitch is a SHORT, written summary that describes how your idea can improve the lives of others. Your pitch should interest potential buyers, investors, or collaborators.  A pitch is meant to be completed in the time it takes to ride an elevator! 

 

The following is an example for someone competing as an individual: 

 

Part 1.   Cover Page with Elevator Pitch 

 

Ms. Carol A. Smith 

11 

Autopencil 

STEM Business Plan 

 

Elevator Pitch:  

Approximately 84% of school aged students have issues with maintaining ample lead in a traditional wooden pencil. By harnessing the law of action and reaction in motion, Autopencil automatically feeds lead through a self-rotating spring, activated by the user's pressure. With its user-friendly design, Autopencil facilitates a seamless writing experience, enabling increased time on task and enhanced focus, while minimizing interruptions caused by broken lead.  

 

The following is an example for a group competing as a team: 

 

Part 1.   Cover Page with Elevator Pitch 

 

Ms. Carol A. Smith, Mr. Conner H. Jones, Ms. Sally R. Brown 

11, 12, 10 

Autopencil 

STEM Business Plan 

 

Elevator Pitch:  

Approximately 84% of school aged students have issues with maintaining ample lead in a traditional wooden pencil. By harnessing the law of action and reaction in motion, Autopencil automatically feeds lead through a self-rotating spring, activated by the user's pressure. With its user-friendly design, Autopencil facilitates a seamless writing experience, enabling increased time on task and enhanced focus, while minimizing interruptions caused by broken lead.  

Part 2.  Executive Summary

Length = @ ½ page or less

An executive summary is a clear and concise summary of your plan and its most important points.  It must be written in a manner that a person unfamiliar with your topic can understand what your plan is about.  

Include:

1. Problem 
   

1. Target Customers and Users 
   

1. Solution 
   

1. Main STEM Topics 
   

1. Competitors 
   

1. Customer Value 
   

1. Competitive Advantage 
   

1. Revenue Streams 
   

1. Startup and Operating Costs 
   

1. Explanation of how all this information makes your product/service feasible! 
   

Part 3. Problem / Solution

Length = @ ½ - 1 page

 

This part includes a discussion of the identified problem, target customers, and proposed solution sections in ProjectBoard. 

Use your Action Step information to: 

 

1. Summarize the problem you plan to address.
   

1. Describe why the problem exists based on evidence from your research.
   

1. Write a short summary that describes your target customers, intended users, and magnitude of the problem.  
   

1. Write a short summary that describes your proposed solution and how it functions. 
   

1. Optional: Discuss survey/interview results. 
   

Part 4.  STEM Research

Length = @ 1 - 2 pages

If your proposed solution is based on several STEM topics, focus on 1-3 key topics.  

 

This part includes a discussion of the Action Steps from:  the STEM Research section in ProjectBoard. Use your graphic organizers and Action Step information to: 

 

1. Write a description of why (background) these STEM concepts are important to your proposed solution and how (application) they are used in developing your solution. 
   

1. Make sure to cite your information as you write your paragraphs. 
   

1. Describe the design of your prototype.
   

1. Include a labeled drawing of your prototype (product or app only). 
   

1. Explain how your prototype functions (product or app only).
   

1. List the process for how you will operate your service based on the greatest customer need you identified from your survey or interviews. (service only).
   

Part 5.  Commercialization

Length = @ 2 pages

This part includes a discussion of the Action Steps from Competitors, Value Proposition, Expected Revenues, and Costs sections in ProjectBoard. Use your Action Step information to: 

 

Write a short summary under each of the headings below.  

Competitors  

 

Customer value proposition & competitive advantage 

 

Revenue streams expected 

 

Start-up and operating costs expected  

 

1. Use the Start-up and Operating Costs worksheet to guide your discussion.              
   

Part 6.  Business and Financial Proof of Concept 

Length = 4 - 5 pages

You will provide compelling evidence that demonstrates your solution is financially feasible by breaking down the costs, sales, revenues, profits, investments, and risks associated with starting and operating your business. This is your chance to prove that your plan is not just a theory but a solid, tangible reality. This is called your business and financial proof of concept.

This part includes a discussion of the Action Steps from: “If a STEM Business Plan, Develop a Business and Financial Proof of Concept” section in ProjectBoard. Use your Action Step information to provide a:

Discussion of the Marketing Strategy

Include:  

1. Types of advertising
   

1. Distribution channels
   

1. Rationale for these choices.
   

Discussion of the types of investors sought and the amount of money required to bring your idea to market.

Discussion of risks and uncertainties you expect to face in bringing your idea to market.

Discussion of your 3-Year Financial Projection

Include:

1. Overhead costs and Cost of Sales for each of the three years.
   

1. Price point and how it compares to competitors.
   

1. Sales and Revenues for each of the three years.
   

1. Whether you earned a profit or showed a loss in each of the three years.
   

1. Whether your ROI was positive or negative in each of the three years and an explanation of what caused these values.
   

1. Discussion of any changes you would make to your financial projection to enhance feasibility and sustainability. 
   

Summary of the feasibility of your business venture.

Include:

1. A justification of why, based on your calculations and research, your product/service is financially feasible. 
   

1. Cite all information that is not your own. 
   

A three-year financial projection that confirms the financial feasibility of bringing our venture to market on a sustainable basis:

1. Include your three-year financial projection spreadsheet here. 

1. Include supporting figures such as data tables, graphs, sketches, measured drawings, flow charts for app development, photographs of models or prototypes, computer models, or mathematical models.  
   

1. Include proper labels, captions, attributions, and legends for all figures. Reference these in your text.
   

1. You must give credit to the sources of illustrations unless you create them.
   

1. Avoid using copyright or trademark/service marked illustrations for which you do not have permission.  If permission is granted, indicate Copyright © and owner and date, or trademark/ service owner and date.
   

Part 7.  Acknowledgements:

1. Identify and thank those who helped you and describe what they did. 
   

Part 8.  References Cited:

References are not included in the total paper length.

1. Use either MLA or APA citation formatting, the formatting should be consistent for the entire paper.
   

1. Provide both In-Text citations as well as a list of cited references at the end of your Plan.
   

1. Copy the reference information from your STEM Research Graphic Organizer to fill in this section. 
   

1. Arrange entries alphabetically by the last name of the first author. 
   

1. All web references must cite the accessed date and include a fully retrievable URL. Here is an example of how to cite a web reference that you might access online through search engines such as http://scholar.google.com/:
   

Daniel, M-C & Didier, A. 2003. Gold Nanoparticles:  Assembly, Supramolecular Chemistry, Quantum-Size-Related Properties, and Applications toward Biology, Catalysis, and Nanotechnology. Chem. Rev., 2004, 104 (1): 293–346. Accessed 01 Dec 2019:             http://faculty.washington.edu/markeh/MSE599/Daniel_Chem_Review_2004.pdf

 

1. This is how an entry would appear if you had a physical copy of the publication:
   

Daniel, M-C & Didier, A. 2003. Gold Nanoparticles:  Assembly, Supramolecular Chemistry, Quantum-Size-Related Properties, and Applications toward Biology, Catalysis, and Nanotechnology. Chem. Rev., 2004, 104 (1): 293–346.