Biz plan competition to award $200,000

THE RHODE Island Business Plan Competition will award more than $200,000 in prizes to 2012 competition winners.
Posted 3/20/12

PROVIDENCE – The Rhode Island Business Plan Competition will award more than $200,000 in prizes to competition winners - including a $40,000 cash prize to the grand prize winner – at the May 3 Rhode Island Business Expo.

The competition encourages new businesses, early-stage and seed-stage companies that have an idea or concept but haven’t generated income yet to submit their business plans for review.

The Business Plan Competition has three different tracks:

  • Entrepreneur track: Open to any entrepreneur or would-be entrepreneur.

  • Student track: Open to any student enrolled in and attending an accredited college or university at the undergraduate or graduate level. All key members of the team must be students.

  • Special award: Open to anyone who is developing a technology business.

The most promising companies will share the $200,000 in cash and “in-kind prizes.”

Major sponsors for the 2012 Rhode Island Business Plan Competition include: Davol Inc., Edwards Wildman Palmer LLP, Embolden, Hinckley, Allen & Snyder LLP, Johnson & Wales University, Kahn, Litwin, Renza & Co. Ltd., Providence Journal Charitable Foundation, Rhode Island Commodores, R.I. Economic Development Corporation and the University of Rhode Island.

Other sponsors include AM 790, Amica Insurance, Bank Rhode Island, Bryant University, Braemar Energy Ventures, Business Development Company of Rhode Island, Care New England, Center for Women & Enterprise, Cherrystone Angel Group, Citizens Bank of Rhode Island, Collette Vacations, Fidelity Investments, FM Global, Greater Providence Chamber of Commerce, GTECH Corp., Morgan Stanley Smith Barney, Nortek Inc., NuLabel Technologies, Point Judith Capital, Providence College, Providence Business News, Rhode Island Center for Innovation & Entrepreneurship, R.I. Science & Technology Advisory Council, R.I. Small Business Development Center, Slater Technology Fund, Tech Collective, Teknor Apex, Verizon and Ximedica.

In addition, support is being given by Banneker Industries Inc., CVS Caremark Corp., Freedom National Bank, Hayes & Sherry Real Estate Services, InsureMyTrip.com, Schneider Electric, ShapeUp, Taco Inc. and TD Bank.

The application deadline for this competition is April 2. All applicants must be 18 years or older.

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