Venture Works announces business plan competition
FOR RELEASE: Monday, August 18, 2008
Huntington, Ind.-Venture Works announced today its second annual Huntington County Business Plan Competition. The winner will receive $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 $10,000 will go a long way to providing pre-seed funds for an incubating idea or business."
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.
Rules of the Business Plan Competition require interested participants to be Huntington County residents or attending Huntington University with intentions of their business being housed in Huntington County. Participants must submit an application, 7-15 page business plan and a $10 non-refundable application fee. Competition registration closes Monday, Oct. 6, 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 Wednesday, Oct. 22, 2008. A cash prize of $10,000 will be awarded to the first place finisher. Second and third place winners will receive in-kind support.
Competition organizers also announced a business planning workshop to address the critical elements for creating a business plan. This free session, slated for Wednesday, Sept. 10 from 6-9 p.m., will be open to the public and is recommended for all participants. Please RSVP to jgreen@huntington.edu or call 260.359.4310 to register for this workshop.
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 questions about the Huntington County Business Plan Competition, contact Joanne Green at (260) 359.4310 or jgreen@huntington.edu. Applications and details about the competition can be obtained online at www.huntington.edu/erc.
The mission of Huntington County United Economic Development is to foster cooperation, education and coordination of the public and private sectors; to promote and encourage retention and expansion of existing businesses; and to support attraction of new resources for diverse economic development that will enable Huntington County to prosper as a community. Learn more about HCUED at www.hcued.com. Learn about Venture Works, HCUED's entrepreneurial resource center at Huntington University, at www.hcuedventureworks.com.
