Applications officially open Nov. 1 for the next round of the Hormel Entrepreneurship Competition and a chance at a share of $25,000. This competition is open to residents in seven area counties who have business ideas or plans to expand an existing businesses.
"One of the best ways to keep southwest Nebraska economically sustainable is to help support and develop the people and businesses we already have," said Sharon Kircher, Mid-Plains Community College Business & Community Education Coordinator.
Thanks to donation from the Hormel family and many area sponsors, MPCC is offering a new edition of the Hormel Business Plan Competition this year.
Over the years the competition has changed to allow for more economic growth in southwest Nebraska. The winner no longer receives a prize in the form of a small business loan. Instead, $25,000 is available to competition finalists with no strings attached.
After the November application process ends Nov. 30, judges will chose semifinalists to compete in the Spring Hormel Business Plan Competition. They will receive a scholarship, valued at about $336, to attend a mandatory eight-week online Entrepreneurship Business Plan writing class offered through Mid-Plains Community College during the 2021 spring semester.
After successful completion of the class, semifinalists have until April 2, 2021, to comprise and submit their business plans to the MPCC office of Business and Community Education. Judges will choose finalists to present their business plans and make presentations on April 23, 2021.
In April of 2019, Tyler McCarty's idea to bring a shrimp farm to the area won him $18,000 through this program, to help establish "Saltwater Hills" south of McCook near "M" Hill. Six other finalists earned $2,000 to help infuse area business startups and expansion in the area. Past winners also include: Citta' Deli, Game On Games, and The Loop Brewing Company.
Kircher said 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 new startup business or an existing business that has been operating no more than five years, who are looking to expand in southwestern Nebraska (consisting of Chase, Dundy, Frontier, Furnas, Hayes, Hitchcock, and Red Willow counties.)
A complete set of rules, and more information about the competition is available on the Mid-Plains Community College website at:
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.