Technology Advancement Program

Business Plan

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 Plan Submission Guidelines

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.

 

»More information about Mtech's venture creation, entrepreneurship education programs, and company/university connection programs.

Download the TAP program sheet in pdf format