ANN ARBOR ? Entrepreneurs who want to be matched to a coach in the Great Lakes Entrepreneur’s Quest business-plan writing contest need to apply by Oct. 15.

GLEQ Executive Director Diane Durance said any entrepreneur applying after that date will be on their own to develop a six-page executive summary, which is due no later than Dec. 17. The contest remains open for entry until Nov. 1.

“It’s not too early for people to think about it because registration is open,” she said. “We’re doing something new this fall. We’re having an early close on registration for people who want to have coaches. Oct. 15 is the deadline if they want to have a coach. They can still register up until Nov. 1, so people at the MichBio Expo and TiEConMidwest can register after those events.”

Durance said she hopes to announce some nice-sized cash awards in the next few weeks.

“Participating in GLEQ can help people prepare for the other business-plan competitions,” Durance added. “There’s absolutely no reason why an entrepreneur wouldn’t want to participate in all the competitions around the state.”

GLEQ offers two tracks:

New Business Idea path is targeted at entrepreneurs with little or no business start-up experience. This path – offered twice a year – provides basic business plan training and education, as well as networking opportunities with potential team members, coaches, angel investors, government resources and others. You may enter the competition in this category as many times as you like, until you win and are elevated to the Emerging Company category.

Eligible participants will submit a 5-page executive summary that captures their innovation, relevant experience and market opportunity. Coaches will assist with the development of the executive summary and judges will provide feedback.

GLEQ’s Emerging company path is for entrepreneurs with some business or start-up experience. The path has two distinct rounds. In the fall, team submits a five page executive summary and in the spring, complete a full 12 page business plan. You can compete in either cycle at any time and can enter as many times as you like until you win and are no longer eligible to compete.

Eligible participants (hotlink to eligibility) will submit a five-page executive summary in the fall that captures their innovation, relevant experience and market opportunity. Coaches will assist with the development of the executive summary and judges will provide feedback.

In the spring cycle, eligible participants (hotlink to eligibility) will develop a 12 page business plan that reflects a viable business model, management team and innovative product or service. Coaches will assist with the development of the business plan and judges will provide feedback. The entrepreneurs submitting the top 6 business plans will have a chance to present their business pitch to a panel of judges in the final round of the completion.

For more information, click on GLEQ.Org

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