Governor’s Business Plan Contest opens for 2007 entries
For their initial entry, contestants will submit 250-word idea abstracts online at www.govsbizplancontest.com. Contestants who advance to subsequent contest rounds will have the opportunity to expand their plan or idea. More than 40 judges drawn from the finance, sales, marketing, research and specific technology sectors will score the entries and provide feedback.
Managed by the Wisconsin Technology Council, the contest sprang out of conversations with Gov. Jim Doyle shortly after he was first elected in 2002. Doyle had talked about the value of a statewide business plan contest during his campaign, and it meshed with similar plans underway within the Tech Council. The mission of the contest is to encourage entrepreneurs in the creation, start-up and early-growth stages of high-tech businesses in
According to new data released by the Tech Council, the
More than 700 entries were received across the contest’s four categories – Advanced Manufacturing, Business Services, Information Technology and Life Sciences – from more than 100
- More than $450,000 in cash and services were awarded.
- More than 60 percent of the contest’s finalists received financing totaling more than $7.5 million since participating in the contest.
- 80 percent of finalists reported the contest led to an increase in public exposure, including contact from potential investors, for their company or idea.
- 34 percent of finalists said the contest led to new customers or business partners.
Teams and individuals alike who have participated in the contest have found the process to be a rewarding one. (See our web site for information on past winners.)
“The exposure given our small company as a direct result of our participation and success in the contest has and will continue to add credibility to our organization,” said Eric Antonson of U.S. Trailmaps Inc., a Wausau firm that finished second in the 2006 contest’s information technology category.
As with past contests, the 2007 competition will take place in three stages:
In the “Business Concepts” phase, which runs to
In the “Summary Business Plan” phase, which runs from Feb. 1 to
In the “Final Business Plan” phase, which runs from March 16 to
The four category winners will present at the Wisconsin Entrepreneurs’ Conference, June 12-13 in
To enter, become a judge or sponsor, visit www.govsbizplancontest.com
Sponsors of the 2006 contest were: Aberdean Consulting LLC, American Transmission Co., Associated Bank; Axley Brynelson LLP, Career Momentum Inc., Fintel, Foley & Lardner LLP, J.P. Cullen & Sons, Loughrin Accounting & Tax Service, Madison Gas & Electric Co., Makin’ HEY! Communications, Mason Wells Private Equity, Michael Best & Friedrich LLP, Quarles & Brady LLP, Reinhart Boerner Van Deuren, s.c., Smith & Gesteland LLP, State of Wisconsin Investment Board, The Boldt Company, University Research Park, Wisconsin Department of Commerce, WisBusiness.com, Wisconsin Angel Network and the Tech Council.