PROVIDENCE – Anyone with a business idea seeking feedback from experts and a chance to win cash prizes is invited to participate in the third annual Rhode Island Elevator Pitch Contest on Dec. 4, the Rhode Island Business Plan Competition has announced.

Up to 30 presenters each will make a 90-second presentation to a panel of judges from the Rhode Island business community. Following each presentation, the judges will give feedback about the clarity and persuasiveness of the presentation. At the end of the evening, cash prizes totaling $1,000 will be awarded to the best presenters.

The free event will be held Thursday, Dec. 4, from 5 to 7 p.m. at the Greater Providence Chamber of Commerce in downtown Providence. The event also will include a networking session, and the public is invited.

“Success in business often is related to the ability of entrepreneurs to present and persuade,” said David Mitchell, dean of the College of Business at Johnson and Wales University and a co-chair of the competition. “The Elevator Pitch Contest offers participants an opportunity to make a business pitch and get immediate feedback from experienced business-building professionals.”

Registrations to make a pitch are being accepted online at www.ri-bizplan.com. People who only want to listen, not present, also can register.

In addition, the competition announced that the online insurance service InsureMyTrip.com and Brown University both have pledged their support as sponsors of the 2009 Business Plan Competition, bringing to 27 the number of organizations supporting the Rhode Island Business Plan Competition.

“We’re tremendously appreciative of all our sponsors, without whom there would be no competition,” said Garrett Hunter, president of the nonprofit Business Development Company of Rhode Island and another contest co-chair.

Other sponsors of the 2009 Rhode Island Business Plan Competition include: Hinckley, Allen & Snyder LLP; Kahn, Litwin, Renza & Co. Ltd.; Edwards Angell Palmer & Dodge LLP; Embolden Design; Johnson & Wales University and Nortek Inc.

Also supporting the competition are: Brown University; Bryant University; Business Development Company of Rhode Island; Cherrystone Angel Group; Citizens Bank; CVS Caremark Corp.; Federal Electronics Inc.; Greater Providence Chamber of Commerce; InsureMyTrip.com; Item Group; Point Judith Capital; Providence Business News; Rhode Island Commodores; R.I. Economic Development Corporation; Slater Technology Fund; Smith Barney; Sovereign Bank; Starkweather & Shepley; The Employers Association; University of Rhode Island; and Webster Bank.

The 2009 Rhode Island Business Plan Competition will award $150,000 in prizes to winners next May. Applications are due next April. Prior winners have included FarSounder Inc. and Providence Health Solutions LLC.

Additional information about the 2009 Rhode Island Business Plan Competition – including contest rules and guidelines, application procedures and business-planning resources – is available at www.ri-bizplan.com.