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The Harvard Business School Business Plan Contest

Autor:   •  May 7, 2013  •  Essay  •  3,372 Words (14 Pages)  •  1,498 Views

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CASE OVERVIEW:

The Harvard Business School Business Plan Contest

Harvard Business School (HBS) has an annual business plan contest. It is a huge campus event and for many students, a highlight of their MBA journeys. The contest has three primary objectives:

1. Educate the students in the process of creating and evaluating new business ventures;

2. Prepare the students for opportunities in entrepreneurship sometime during their careers; and

3. Harness the unique resources that HBS and its communities offer

The submission requirements included, but are not limited to:

• Financial projections;

• Working models or prototypes;

• Market data based on customer research and response analysis;

• Other analysis including break even, estimated market share, etc.; and

• PowerPoint or summary of the proposed business

Judging is completed by a group which includes venture capitalists and entrepreneurs. Entrants are evaluated on the plan’s likelihood of becoming a functioning business, as well as creativity, innovation, business concept, appropriateness of the strategy, reasonableness of plan and the team’s ability to implement the plan.

The HBS Team

Henry Tam and Dana Soiman, both second year MBA students at HBS, wanted to compete in the annual business plan competition. They both met with founding members of Music Games International (MGI). The founders of MGI liked both individuals and wanted them on the contest team. Henry and Dana were excited for the opportunity to work with MGI, and each other, in an effort to create a business plan for submission in the contest.

Henry and Dana had common goals relative to their participation in the HBS business plan contest. They would gain valuable experiencing in writing a business plan, while working with a complex group of individuals within an entrepreneurial start-up. Being part of the team could also lead to opportunities after they graduated.

The MGI Team & History

MGI consisted of three individuals, Sasha Gimpelson, Igor Tkachenko, and Roman Yakub. All were Russian immigrants. Sasha and Igor had been friends for 20 years and grew up in the same neighborhood as teenagers. Roman had been in the United States for 10 years and was brought into the group by Igor. They were both composers and knew each other through musician networks. Sasha has more general business experience and was an HBS graduate. Ultimately, Sasha was the

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