Venture Works announces business plan competition
FOR RELEASE: Monday, January 14, 2008
Huntington, Ind.-Venture Works is a resource center for entrepreneurs established by Huntington County United Economic Development (HCUED), in partnership with Huntington University, Northeast Indiana Innovation Center (NIIC), Huntington County Commissioners, and Huntington County Chamber of Commerce. Venture Works announced today its second annual Huntington County Business Plan Competition with prizes for winning competitors totaling $10,000.
The purpose of the competition, according to Joanne Green, 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 a $10 non-refundable application fee. Competition registration closes Monday, April 7, 2008.
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 21, 2008. 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. The first workshop, offered on Monday, February 18 and Tuesday, February 26, is titled: "Boot Camp I: Business Concept Basics & Creating a Winning Plan." The second workshop, offered on Wednesday, February 20, and Monday, March 3, is titled: "Boot Camp II: Marketing Elements of a Sound Business Plan." The third workshop, offered on Monday, February 25, and Tuesday, March 4, is titled: "Sleuthing the Internet (Research) & Capital Sourcing Options." An optional workshop will be offered on Tuesday, March 25, titled: "Critiquing the Plan: Presentation Practice and Facilitator Feedback." RSVP to jgreen@huntington.edu, or call 260.359.4310.
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, contact Joanne Green at (260) 359.4310 or jgreen@huntington.edu.
Applications for the competition may 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
