ANN ARBOR – Great Lakes Entrepreneur’s Quest has launched the spring cycle of its statewide business plan competition. Early stage technology and life science companies can enter the competition to win cash awards up to $25,000.
All tech entrepreneurs are encouraged to enter the competition, whether their venture is in a very early stage of development or they?ve been operating for several years. The competition features two tracks to support both idea-stage companies and those with up to $3 million in cumulative sales.
?Participating in the GLEQ business plan competition is a way for entrepreneurs to develop their business ideas and complete their business plans with support from investors and industry experts,? said Diane Durance, GLEQ executive director. ?Each executive summary and business plan is reviewed by seasoned investors ? and the entrepreneurs receive critical feedback from these experts.?
Each entrepreneurial team is matched with a coach that advises them and supports their efforts for the duration of the competition. The deadline for registering is April 18, but registering early gives contestants an edge. They have more time to work with their coach and to participate in training, educational, and networking events around the state.
The New Business Idea (NBI) track is perfect for new entrepreneurs and those interested in further developing a business idea. The Emerging Company (EC) path is for entrepreneurs with business or start-up experience that may be operating an early stage company. NBI participants will develop and submit a brief Executive Summary and EC participants will prepare a 12-page business plan. Both NBI and EC participants must submit their documents by May 15.
Awards will be presented in June.
Interested entrepreneurs can find out more and register to participate, click on GLEQ.Org
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