In order to compete in the Bears' Lair Competition, entrants must:

• • - Be a registered business (Incorporated, Sole Proprietor or Partnership)

 

• • - If you are at the pre-sales/start-up stage, show a meaningful investment in the business (such as time, equipment, dollars, research and development) etc...)

 

• • - If you are an existing business, you must demonstrate that you will be taking a significant step such as adding new product or service, accessing new market or commercializing Intellectual Property.

 

• • - Be able to undertake the proposed work within the next 12 months.

 

• - Have annual sales of less than $200,000.

To apply, you must: - Post an photograph or video entry to the Bears' Lair Facebook page indicating your entry. It will be restarted on other Bears' Lair Social Media platforms. Your Facebook entry can proceed the submission of the application and business plan. - Submit a completed business plan that outlines the planned next steps for your business. It must include a 12 month cash flow projection. A suggested .xls cash flow template is provided.

The Business Plan should include (but is not limited to):

 

1. - Profile of you and your company
2. - Description of Core Product or Service
3. - Your core value proposition
4. - Key Competitors (and how you are dramatically different)
5. - Key Customers (and the problem you solve)
6. - Why it is the right time to launch this product or service
7. - Market Research that you have undertaken
8. - Marketing and Promotions Plan
9. - Critical assets that the business requires to execute your business model?
10. - Key members of your team and Partners.
11. - Goals or key milestones
12. - Financial Summary (P&L, Balance Sheet, etc…)
13. - Main fixed and variable costs
14. - Additional Information such as photographs, brochures, links or other information

All Business Plan information will remain confidential.

For more information on Business Planning, the following links and agencies may be useful:

• www.peterboroughed.ca/small-business/startup
• www.communityfuturespeterborough.ca
• https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/templates-business-guides/pages/business-plan-template.aspx
• www.innovationcluster.ca

Goods & Services Stream:

 

1. Benefit to Local Economy: job creation, environmental impact, social impact, local attraction /20
2. Innovative: new idea, new product, new markets, new processes /20
3. Viability: financial projections, market research, business model and their "investability"/ investor-readiness /30
4. Entrepreneurial acumen and experience /20
5. Passion & presentation /10
6. TOTAL POINTS /100

 

Innovation Stream:

 

1. Benefit to Local Economy: job creation, environmental impact, social impact, local attraction /20
2. Innovative: new idea, new product, new markets, new processes /20
3. Viability: financial projections, market research, business model, ability to scale and their "investability"/ investor-readiness /30
4. Entrepreneurial acumen and experience /20
5. Passion & presentation /10
6. TOTAL POINTS /100