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TAP
Business Plans should be limited to 15 pages (single spaced
OK), plus exhibits for financial information, customer testimonials,
and other relevant supporting documents. The primary purpose
of a business plan is to (a) convey the opportunity for the
new venture; and (b) explain how the venture will execute
and capitalize upon such opportunity.
In
the Business Plan, companies are requested to include the following information:
- Clear
and focused mission statement for the
company.
- Synopsis
of key technical, marketing, and financial milestones achieved
to date.
- Synopsis
of the proposed product(s) and service(s).
- Synopsis
of the underlying technology supporting
the proposed product(s) or service(s).
- Synopsis
of the market, designed to convey the
opportunity for the business, including:
- Reasons
customers will purchase the product(s) or service(s);
- Size,
scope and expected growth in the market with data
from credible research and/or news organizations;
- Preliminary
segmentation of prospective customers;
- Synopsis
of key existing or potential competitors, including
a chart distinguishing the company from competitors
using product or service features, pricing, lead-time,
etc.;
- Expected
adoption cycle and timeline for the product(s) and
service(s) ro reach the marketplace.
- Brief
description of and rationalization for the company's business
model, whether product sale, licensing, subscription-based,
or services.
- Synopsis
of the company's sales and business development
plan and related efforts:
- Will
the company use distributors? Direct sales effort?
- How
will alpha and beta customers be identified and engaged?
- Synopsis
of the company's financing strategy,
including:
- Funds
committed and current burn rate;
- Funds
needed to reach (a) commercialization; and (b) break-even,
with supporting rationale for such figures;
- Existing
burn rate per month;
- Existing
and proposed sources of funds, and proposed timeline
for attaining such resources.
- Synopsis
of key facilities and equipment needed
by the company during the proceeding 24-36 months, as
well as synopsis of the company's manufacturing strategy
pre and post-commercialization, if applicable.
- Brief
overview of the existing and proposed management
team, advisory board(s), and board of directors.
[Complete resumes should be attached as an exhibit to
the Business Plan.]
- Synopsis
of key technology, marketing, and business risks the
company currently faces and may encounter in the future.
- Timeline for
proceeding 24-36 months with brief descriptions of key
future milestones. Please include technology, marketing,
financing, and personnel-related milestones.
- Synergies
and benefits with the University of Maryland and
TAP that the company expects to achieve.
- Pro
Forma income statement, balance sheet, and
cash flow statement with supporting explanations should
be attached as an exhibit.
Business
Plans should be submitted electronically as PDF files attached
to emails. Upon receiving Business Plans, TAP's staff will
communicate any questions or recommendations for modification.
TAP's staff will send finalized Business Plans to those persons
selected for a company's Business
Review. Questions about the Business Plan should be communicated
to TAP via e-mail or telephone at 301-314-7803. |
