Governor’s Business Plan Contest now open

Posted on Jan 3, 2020 :: Insight on Business, Web Exclusive
Kennedy Krause
Posted by of Insight Publications

The Wisconsin Governor’s Business Plan Contest is now accepting entries for Wisconsin tech-based businesses and entrepreneurs currently in the startup stage. The deadline for entries is 5 p.m. on Jan. 31.

The contest connects entrepreneurs with a statewide network of community resources, mentoring, expert advice, management talent and possible sources of capital along with public and media exposure for the top business plans. In addition, 76.7 percent of finalists from the last eight contests are still in business – a high success and survival rate. For up-and-coming entrepreneurs, the contest is a great way to gain essential resources for starting a business.

For initial entries, contestants submit a 250-word idea abstract online. Judges pick the top 50 ideas that move onto Phase 2 where entrepreneurs submit an executive summary. The top 20 executive summaries chosen will prepare full business plans and three finalists from each of the four categories –Advanced Manufacturing, Business Services, Information Technology and Life Sciences — move onto the final presentation round.

The top 12 contestants present their plans during the Wisconsin Entrepreneurs’ Conference at Northwestern Mutual in Milwaukee on June 4 where a grand prize winner and category winners will be announced. In 2019, finalists shared more than $200,000 in cash and service prizes. Since its creation in 2004, roughly $2.4 million in cash and services have been awarded.

To enter the contest or learn more, click here.