Sponsorships are gathered.
Sponsorship money used for winner(s) prize money. Marketing begins in September.
Other costs associated with program: business writing plan registration costs (3 credit hours $330), marketing, books for course, advisory night and orientation miscellaneous expenses.
The application process is open from November 1, 2019 through December 2, 2019. No late applications accepted.
Judges meet and choose semi-finalists first week of December.
On December, 11, 2019, an orientation is held giving the semi-finalists a change to meet each other, ask questions, and review rules of the competition. A liaison to the semi-finalists is appointed as the contact to answer any questions.
Semi-finalists register for on-line Business Writing Plan class which begins January 13, 2020, and concludes March 6, 2020. The writing plan course is mandatory. If semi-finalists drop out, they are responsible for cost of the class.
On February 12, 2020, an advisory night will be held for all semi-finalists. Advisory night is a time to meet area entrepreneurs and ask questions. A panel is assembled consisting of a banker, accountant, and a lawyer. Each of the three panelists visit about items they believe young entrepreneurs need to be aware of as they begin a business. Next, each semi-finalist visits with three area entrepreneurs, their chance to ask questions and learn from someone who has recently been in their shoes.
Business Plans are due and turned into the liaison by April 3, 2020.
Judges meet and determine finalists based upon the business writing plan. Participants are informed of final contestants on April 10, 2020.
Competition is held April 22, 2020, and open to public. Finalists present their pitch to the judges. Presentation is timed and each finalist is allowed 20 minutes.
Winner(s) chosen that evening based on final pitch and business plan.
*Cash prize winners will receive a 1099 form for tax purposes.