Learning Objectives for this Module
       ● Topic 1.1: Understanding your audience
            ● Students will learn about various parties they may need to 
              communicate with as entrepreneurs, including customers, investors, 
              suppliers, and other partners.
            ● Students will learn how to analyze the needs of their audience and 
              target their communications to appeal to each group.
            ● Students will understand how a business plan is used and why it is 
              important to create a business plan to communicate information about 
              their app.
       ● Topic 1.2: The elements of a business plan
            ● Students will understand the components of a business plan using a 
              simple example, including the following components of the 
              Technovation Business Plan:
                ● Product Description 
                ● Potential Market Size 
                ● Competitive Analysis
                ● Potential Revenue 
                ● Branding and Promotion
     Topic 1.1: The Importance of a Business 
     Plan
     This module will introduce the various audiences an entrepreneur 
     may need to communicate with to gain support for his or her 
     business ideal, and the interests each party has in the business 
     plan.
     Module outline:
     ● What is a business plan?
     ● Video: From Business Idea to Business Model
     ● Who will read your business plan?
     ● Investors as a key business plan audience
     ● Types of potential investors
     ● Activity: You be the Judge
          What is a Business Plan? 
          ● A business plan is a tool used by entrepreneurs to organize and 
              communicate business ideas to external parties. 
          ● A business plan is usually written in a narrative form and contains a 
              series of sections outlining your idea and future plans. An 
              entrepreneur may also develop a presentation with visual imagery 
              for use in pitches.
          ● The contents of a business plan are often kept confidential; that is, 
              not posted publicly and only shared with select parties, since many 
              entrepreneurs want to prevent other companies from using their 
              ideas.
          ● The Technovation Challenge business plan includes 5 sections:
                1.  Product Description
                2.  Potential Market Size
                3.  Competitive Analysis
                4.  Potential Revenue
                5.  Branding and Promotion
          ● We will define these sections and give examples in Topic 1.2 of this 
              module.
       Video: From Business Idea to Business 
       Model
       ● This video introduces some of the questions you will be faced as you 
          develop your business plan.
       ● Click on the icon below to watch the video.
       Source: Strategyzer
    Who Will Read Your Business Plan? 
    Students participating in the Technovation Challenge will submit their 
    business plans to a panel of judges for review. The judges will provide 
    feedback based on an evaluation rubric used to assess each team’s 
    performance. Judges are technology and business professionals who 
    volunteer their time with the Challenge.
    Please visit the Technovation Challenge website to view the current version 
    of the judging rubric and to learn more about the evaluation process.