Overview

The James R. Pearcey Award for Entrepreneurship was established by a generous donation from Mr. Wade. K. Dawe, B. Comm. ’92, in memory of James R. Pearcey, a Civil Engineering graduate and former president of the 1993 class at Memorial University of Newfoundland. 

Award:
$10,000 to the winner of a Business Plan competition administered by the Memorial Centre for Entrepreneurship (MCE). 

Eligibility Criteria: 

• Undergraduate students from any faculty and any academic year, though first preference will be given to the strongest applicant from the Faculty of Business Administration. 
• The winner must be in clear academic standing and meet the minimum academic requirements for an award as defined by the Memorial University of Newfoundland. 

Applications close: February 12, 2024 at 5:00 pm

Application Guidelines: 

Submit your business plan in the application form in PDF format. The maximum number of pages is 10, not including appendices. See below.

At a minimum, the document should incorporate the following: 

• Executive Summary: A concise, compelling summary that outlines the business idea, target market, value proposition, and overview of financials.
• Business Description: Clearly describe your business, including the industry, business model, and why it is needed.
• Market Analysis: Outline your market research, including identification of target customers, competitive analysis, and your understanding of market trends and challenges. Demonstrate your knowledge of the market size, growth potential, and your place in it.
• Team: Include information about yourself and, if applicable, your team, and why you are the right person or team to succeed in this business.
• Product/Service Description: Describe in detail the product or service you are offering. This includes the development stage, lifecycle, benefits, and how it differs from competitors.
• Marketing and Sales Strategy: Explain how you will attract and retain customers. 
• Financial Projections: At a minimum, provide a three-year cash flow with sales and expense projections. More detailed financial projections (including income statements, balance sheets, etc. for longer time periods) are welcome but not necessary. Offer a realistic but optimistic view of profitability.

Appendices: You may include resumes, customer letters of intent, or other documents supporting the above. These documents do not count against the 10-page limit. But, do not use this section for your business plan content itself - supporting documentation only. 

Feel free to drop into the MCE (EN-3075) or book a meeting with one of our Startup Coaches any time for support in preparing your application!