2008 Business Plan Competition
Faculty Sponsor Guidelines
Eligibility
1. Any current full-time or adjunct Grove City College (GCC) faculty member may serve as a faculty sponsor.
2. The faculty member should have knowledge, experience, or training relevant to the student team’s business idea.
3. An eligible faculty member may sponsor more than one team.
Responsibilities
1. All conversations, advice, etc., for each team sponsored will be considered as proprietary information and not shared with other teams.
2. When a faculty member advises more than one team, please be equitable in the time and advice provided to the multiple teams.
3. Sponsors take an active part in advising the team during the creation of the plan, but it is not a requirement or expectation. Active participation might include such things as:
a. Periodically reviewing the student team’s work product.
b. Providing the team with time as requested by the student team.
c. Reviewing a draft of the completed plan prior to submission.
4. Faculty sponsors are asked to ensure that the students’ business idea is compatible with the vision and mission of Grove City College.
5. Faculty sponsors will review the plan idea with the students to determine its viability.
a. If plans require significant capital investment (millions of dollars), advisors should help the students think through and articulate realistically where the money will come from.
b. Consider if a plan were to be funded, is there a probability this could be a workable business or nonprofit organization?
6. Sponsors may assist in locating the non-GCC student advisor or counselor.
a. Sponsors are asked to certify that the non-GCC member is an entrepreneur or business professional with relevant expertise (and not a student from another academic institution).
b. Sponsors are asked ensure that any non-GCC advisor does not write or play an active role in the writing of any portion of the plan. Faculty sponsors will discuss, suggest, or advise, not create.
7. Faculty sponsors are asked to attend the plan presentation in Sticht Lecture Hall if their sponsored team is selected as a finalist.
Limitations
1. Faculty sponsors are not eligible to serve as reviewers or judges in the competition.
2. The faculty sponsor may advise, but may not participate in, the creation or presentation of the business plan.
3. Faculty sponsors are not eligible to share in any award.