Venture Works announces business plan competition
FOR RELEASE: Thursday, February 1, 2007
Huntington, Ind.-Venture Works is a resource center for entrepreneurs established by Huntington County United Economic Development, in partnership with Huntington University, Northeast Indiana Innovation Center, Huntington County Commissioners and Huntington County Chamber of Commerce. Venture Works announced today the inaugural Huntington County Business Plan Competition with prizes for winning competitors totaling $10,000.
The purpose of the competition, according to Lora Bulla, Huntington University and Venture Works representative, "is to encourage local entrepreneurs to take the next step; whether it is the launch of a new venture or expansion of an existing one, the creation of a business plan will keep their project moving. The first prize of $5,000 will go a long way to providing pre-seed funds for an incubating idea or business."
Rules of the competition require interested participants to be Huntington County residents or students attending a college or university within the county. Participants must provide an overview of their business concept with their $10 non-refundable application fee. Competition registration closes April 9, 2007.
Competition finalists will have the opportunity to make a 30-minute presentation of their business plans to a panel of local judges and answer their questions at Huntington University on May 23, 2007. Cash prizes of $5,000, $3,000 and $2,000 will be awarded to the first, second, and third place winners as well as other in-kind support.
Competition organizers also announced business planning workshops available on some critical elements in creating a business plan. These free sessions will be open to the public and are recommended for all participants. These dates will be announced in the coming weeks.
Entries for the competition will be judged on (1) originality of idea, (2) prospect for growth, (3) probability of success, (4) use of technical workforce and (5) clarity of business presentation.
For answers to all your questions about the Huntington County Business Plan Competition, please contact Lora Bulla at (260) 359-4310 or lbulla@huntington.edu.
Applications for the competition can either be obtained online at www.hcuedventureworks.com, or picked up at the following locations:
Enterprise Resource Center
Huntington University
Loew-Brenn, Suite 067
2303 College Ave.
Huntington, IN 46750
Huntington County United Economic Development Corporation
8 W. Market St.
Huntington, IN 46750
Huntington County Chamber of Commerce
305 Warren St.
Huntington, IN 46750
