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Business Plan Competition

MagonagaMagonaga subscriber Posts: 1
edited December 2006 in Business Planning
Business Plan Competition

Magonaga Industries, Inc. is pleased to announce it is now accepting business plans for competitive review. Business plan submissions will be accepted until January 15th, 2007.

Innovative and coherent plans that meet our criteria for selection will see referral to our capital networks in the first quarter of 2007.

In order to be considered for review and potential referral, submitted business plans must meet the following criteria:

Early stage companies

Internet, bio/nano or mobile technologies

Initial team assembled on project

Submitted as PDF executive summary
Plans that meet these criteria will be narrowed down to ten finalists who will be invited to conduct an extensive interview with Magonaga Industries and receive assistance in finalizing their plans.
The top three selections will be announced in mid-February of 2007.  Those plans will be submitted to our partners and capital networks for potential funding and operational assistance.
Magonaga Industries, Inc. provides business development, operational consulting and project management services worldwide. For more information on Magonaga Industries, Inc. please visit our Web site at:
www.magonaga.com</A>Magonaga2006-12-24 23:45:22


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    keyconkeycon subscriber Posts: 34
    Robert - welcome to SuN and thanks for the offer. A couple of questions.
    What is Magonaga expecting to get out of this "free" offer? There has to be a "win" for Magonaga. What is it?
    What about confidentiality for the people sending you plan ideas? How will you provide this assurance?
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    MagonagaMagonaga subscriber Posts: 1
    Hello R@,
    Good questions, and thanks for asking them. There are several clear "wins" for Magonaga Industries with this competition:
    The first is that if one of the plans selected is funded and moves forward, we`re in first place to compete for any contracts for business development, operational consulting or project management services the new venture may have.
    Second, we expand our network of entrepreneurs. We make more contacts, we review more work products from innovative thinkers, and by combining the two we have an effective filtering process in place. There are a lot of strange business plans out there. There are some really superb and timely ideas too. There are incompetent thinkers, and there are really critical thinkers. An entrepreneur who can think critically, and has a good idea, is someone we can shepherd into much more serious success.
    Third, we build relationships. Working alone isn`t fun. And any entrepreneur can tell you that it`s difficult to explain the stresses, the rewards, and the passion that comes from starting a new company. Here at Magonaga we understand that passion, and even when someone`s plan may not be what our capital network is looking for there is always value in the joining of like-minded people focused on success.
    These things are more than worth the time spent to review a plan, determine the viability of the concept, get to know the entrepreneur and make a yes/no decision on whether the entire package is worth pushing forward.
    With regards to confidentiality, Magonaga Industries is willing to accomodate the NCND requests of individual entrepreneurs within the parameters of our own legal counsel. Obviously since the primary currency here is intellectual property, care has to be taken. We draft our own NCND for each client or plan submitter and no, we don`t require that they select us as their consultant.
    But we`re happy for the up-close opportunity to prove that we`re very, very good at what we do. And a great idea, backed by great people, is worth the investment of up-front time to make it become a reality.
     Magonaga2006-12-29 16:15:24
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