The Ben Franklin Technology Partners, an organization that provides money and support services to tech businesses, is sponsoring another business plan contest similar to competitions it has put on over the last decade.
The Big Idea Business Plan Contest, open to entrepreneurs that are already based in a 32-county area or are planning to move there by June, comes with a $50,000 prize for the winner. Judges are looking for promising business ideas in areas like alternative energy, medical devices and nanotechnology. Entrants cannot have received Ben Franklin funding before and must have 50 employees or fewer. The eligible geographic area includes most of the state's central, northern and western regions.
“It's really for young, fledgling companies, to give them an opportunity to a) win $50,000 and b) get into the network of economic development service providers,” says Jill Edwards, executive director of the Ben Franklin Venture Investment Forum and Innovation Transfer Network. “We recognize that this region of Pennsylvania has strengths in a whole array of different areas.”
She adds that any company that enters the contest will become known to the Ben Franklin investment network, which opens up other opportunities for funding for help with the process of growing a business.
The contest deadline is Feb. 29 and final judging is expected in June.
Source: Jill Edwards, Ben Franklin Venture Investment Forum /Innovation Transfer Network
Writer: Rebecca VanderMeulen