Franklin & Marshall College Franklin & Marshall College

Franklin Innovation Challenge

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FAQs

Frequently Asked Questions

  • Q:  What is required for the Challenge?
  • A:  Students must submit a 1-page executive summary on 2/1/13 followed by 10-page business plan by on 3/22/13

  • Q:  What are the plans judged on?
  • A:  Plans are judged on four main criteria:  Innovation; demonstrated need/ opportunity; coherence/logic; professionalism

  • Q:  What are the components of a business plan?
  • A:  The main components include:  business description, market and competitive analyses, product/idea design and development, description/plan, operations and management description/plan, financial projections

  • Q:  What type of support is offered to participants?
  • A:  Student teams (1 - 4 members) are matched with an alumni or parent mentor with whom they can work throughout the process

  • Q:  How many winners are there?
  • A:  There will be a total of 6 winners, 3 from each category

  • Q:  What are the prizes?
  • A:  1st place receives $1,500, 2nd place receives $1,000; 3rd place receives $750.  Prizes will be distributed by the business office approximately 10 - 15 days after April 12th.
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