Mid-Hudson Business Plan Competition
Frequently Asked Questions
The 12th Annual Mid-Hudson Regional Business Plan Competition (MHRBPC) will be held at Marist College on April 5, 2024. The top two winning teams in each track at the regional competitions will have the opportunity to compete in the NYBPC finals, which are judged in three rounds, first round asynchronous judging, then in-person New York Business Plan Competition Finals and Grand Finale on April 25, 2024 in-person. Stay tuned for further updates! For any additional questions, please contact email@example.com or firstname.lastname@example.org
Most common concerns
2024 Mid-Hudson Regional Business Plan Competition FAQs Competition: April 5, 2024 hosted by Marist College
Yes--students that are currently enrolled or were enrolled in the 2023-2024 academic calendar year, including those who graduated in December or another month, are eligible to compete.
Yes-- part-time students are allowed to participate as long as they are currently enrolled or were enrolled during the 2023-2024 academic calendar year.
All presenters must be eligible students in all stages of the competition. You may have team members or advisors who are not students work with your team. For business ventures that are incorporated, your business must be majority student-owned (more than 50%). For teams that are unincorporated, the majority of contributions need to come from students, such that should an organization become incorporated, the organization would be majority student-owned.
The application will open in January 2024 and will be available at nybpc.org or on the MHRBPC website. All students across the state fill out one statewide application to compete in the regional competitions. Upon submission of your application, your regional organizers, email@example.com or Cynthia.firstname.lastname@example.org will be in contact with you.
A maximum of two teams from each track will be selected.
Yes--student teams are eligible to compete as long as they haven't raised more than $100,000 in cumulative public and private capital, including other business plan competitions, but excluding grant funding.
Judges use the NYBPC rubric to evaluate each team at both the regional level and state level. Judges are asked to evaluate companies according to the following criteria: Market Opportunity, Competitive Advantage, Management Capability, Financial Understanding, Roadmap/Growth Strategy, and Sustainable Business Model. Judges focus their deliberations on the long-term viability and sustainable competitive advantage of each venture.
No-- judges and participants do not sign confidentiality or non-disclosure agreements, just like in an actual investor presentation. Entrepreneurs need to learn how to effectively pitch their idea, technology, and business model to investors without disclosing confidential information. Teams should not include any confidential information in their applications or pitch decks.
IP protection is the responsibility of the applicant. In general and for the NYBPC, it's best to focus on the problem, high-level overview of a solution, and how the solution makes money, without getting into too much detail on the product/service.
As stated by a local attorney: Steve Ackerman of Saile Ackerman law firm based in Poughkeepsie, NY:
"Pursuing protection by obtaining a patent is the most likely approach. It would be best to find a patent attorney to discuss next steps, and the discussion should include the costs and timeline for obtaining patent protection, why a patentability search is a good idea, and the importance of getting a patent application filed before you disclose your idea to any third party. You'll also want to start thinking about how you might produce, market, and sell a product that includes your invention, and how to finance the costs of starting a business and paying for the patent process. As an alternative to selling the product yourself, you may consider just obtaining a patent and finding someone else to make and sell the product, though this has its own challenges."