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Read the following scenario, then answer the questions that follow. https://maternova.net Meg Wirth founded Maternova in 2009 as a mission-driven, for-profit organization. The firm researches, reviews, and sells innovative, proven obstetric and newborn technologies to private hospitals, governments, NGOs, and healthcare professionals around the world. According to the World Health Organization (WHO), approximately 1,000 women die every day from preventable causes linked to pregnancy and childbirth. Wirth founded Maternova to accelerate access to life-saving maternity and birth care innovations, especially in low-income rural areas in developing countries. The company adopted a two-pronged approach to driving revenue: (1) the aggregation and sales of select low-tech medical devices in a pioneering e-commerce marketplace, and (2) an innovative open-source platform, where healthcare workers can connect globally. Grow their business relationships and expand their international network of partners. Gain valuable national and international press coverage. Achieve an annual compounded revenue growth of over 200 percent. Position the company to get government contracts. Expand product lines and improve online capabilities to drive client revenue. The Maternova team credits online business-planning software called LivePlan for helping them turn their business model into a winning business plan. (LivePlan was developed by Palo Alto Software to walk an entrepreneur through the process of writing a plan and to be a tool for ongoing financial forecasting and modeling.) They offer these tips for anyone considering entering a business plan competition: Do your research: It pays to apply to competitions that are the best fit for your company. Know your audience: If you've identified a business plan competition that's a good fit for your company, your next step is to understand your audience. Find out who will be judging the competition, and whether you can learn anything about their professional aptitudes that you can use to your advantage in your plan. Use good business plan software: Your business plan should be thoughtfully and logically organized. It should also help you visually represent data on your business goals and financial projections. Many universities and colleges with business and entrepreneurship programs sponsor annual business plan competitions. Also, some businesses and organizations outside of higher education offer opportunities with sizable cash prizes. Websites like www.bizplancompetitions.com are a good place to begin your research. They provide directories and schedules of national and international competitions. Source: Written by Sherisa Aguirre, Senior Content Strategist, Palo Alto Software. Resources include https://maternova.net, accessed April 4, 2018; http://www.liveplan.com, accessed April 4, 2018; and http://www.bizplancompetitions.com, accessed April 4, 2018.

According to Meg Wirth, which of the following is NOT a tip for anyone entering a business plan competition:

a. only apply to competitions offering the most money.

b. do your research on the potential judges for each competition.

c. use good business plan software.

d. apply to competitions that are a good fit for your idea.

True or False? LivePlan, the software used by Meg Wirth and Maternova, helps entrepreneurs connect with investors to raise money for their venture ideas.

a. True
b. False