NEWREP sponsors business plan contest

Posted on Jul 24, 2012 :: Insight on Business, Web Exclusive.
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Have an innovative business idea?

The Northeast Wisconsin Business Plan Contest is now accepting applications for its 2012 competition.

To enter, submit a 250-word business plan including a product/service description, customer definition, market opportunity-sales strategy, and competition. This short business plan will be used to choose the first round of contestants. The deadline to submit applications is August 15.

The contest, sponsored by the Northeast Wisconsin Regional Economic Partnership (NEWREP), requires the first round of participants to submit an abstract describing their business plan after being notified. This (maximum) 1,000-word plan must include a company overview, product/service description, a customer definition, market opportunity, competition, management team, financial highlights, and capital needs.

The top 20 entrepreneurs chosen would have to present a full-fledged business plan. This plan would expand upon ideas in each section of the 1,000-word abstract.

Assistance in creating a business plan – from formulating an idea, to formatting the plan itself – is available at each NEWREP member, such as the FCEDC. In fact, each 1,000-word business abstract must be reviewed by a NEWREP member to be submitted.

The competition awards more than $20,000 in prizes, with $10,000 awarded to first-place contestants. Last year, Peter Nugent and Dana Van Den Heuvel, owners of the Docking Station in Green Bay, were the winners of this award.

To enter, go to: newrep2012.istart.org

To learn more, visit http://www.thenewnorth.com/newrep.

 –Rashmika Nedungadi