The Hormel Family Foundation was founded in 1999 by the late Ben F. Hormel, a McCook entrepreneur, to support McCook Community College. Among his many business ventures, Hormel operated the Chevrolet dealership in McCook. When he passed away in 2002, he passed on the torch to his children and grandchildren, who operate the foundation today.

Their foundation is committed to education, entrepreneurship and business development in the McCook and southwestern Nebraska economic region. They believe that education and entrepreneurship are the strongest weapons against the population loss.

Through a partnership with McCook Community College and southwest Nebraska area business sponsors, the Hormel Entrepreneurship Competition will be a program to help local businesses in the startup or expansion phase with business plan writing and a business grant to help jumpstart the business. The program will also contain a component to help traditional students learn alongside local entrepreneurs who are putting their business together.

The contest will host startup or expanding businesses from 7 southwest counties in Nebraska that will consist of (Chase, Dundy, Frontier, Furnas, Hayes, Hitchcock, and Red Willow.) The goal of the program is help support economic gardening in southwest Nebraska.

$25,000 in business grants* will be available to the Hormel Entrepreneurship Competition finalists. Cash prize amounts will be determined by the panel of judges prior to their announcement.

Hormel Entrepreneurship Competition finalists will also receive a scholarship/waiver to pay for tuition and fees (approximately $282.00) for the mandatory online Entrepreneurship Business Plan writing course offered through Mid-Plains Community College.

*Cash prize winners will receive a 1099 form for tax purposes.

The main objective of the Hormel Entrepreneurship Competition at McCook Community College is to stimulate entrepreneurship and support business expansion in southwest Nebraska. Participants have to be a newly startup business or an existing business that has been in business no more than 5 years who is looking to expand located in southwestern Nebraska (consisting of Chase, Dundy, Frontier, Furnas, Hayes, Hitchcock, and Red Willow counties.)

The following rules and guidelines for Hormel Entrepreneurship Competition at McCook Community College, hereafter referred to as the Competition, have been designed to ensure fairness to all participating individuals and teams. The organizers and judges of the Competition will strictly enforce the competition rules. Interpretation of the competition rules that may arise during the Competition will be reviewed and decided by the organizers. Their decision will be final.

1. Previous cash prize winners of the competition will not be allowed to participate in the Competition. 
2. Eligible participants must be a startup or existing business that has been in business for no more than 5 years and reside in participating counties in the Southwestern Nebraska region (consisting of Chase, Dundy, Frontier, Furnas, Hayes, Hitchcock, and Red Willow counties).
3. Business plans may be submitted by individuals or by teams, but all applicants must be 18 years of age or older. 
4. There is no limit on the number of people on a team.     
5. Willing participants for the Competition must submit their application by or before the deadline provided above. No other applications will be accepted after the deadline. No Exceptions.
6. Any area of commercial endeavor is valid. 
7. All finalist submissions must be the original work of those making the submission. Any plagiarized business plans will be disqualified. 
8. All participants must agree that, should they be chosen as a finalist or winner, they will use prize winnings to establish or continue operations that employ people in Southwestern Nebraska and invest prize winnings to startup a company or back into their company. 
9. Partially completed applications will not be accepted. Applications are due by 5 p.m. Central time (U.S.) on December 2, 2016, along with the signed agreement form and must be received, postmarked by, or hand delivered on that date. 
10. Applicants risk disqualification if they attempt to approach a judge, or have someone do that on their behalf, in connection with the competition. 
11. Finalists presenting to the judges on (date), are allowed to bring posters, handouts, laptops for PowerPoint presentations, product samples, and more to assist them in the business presentation. Additional electronics will be on hand for their presentations.
12. The decisions of the judges are final, including interpretation of the rules.