ANN ARBOR ? Michigan entrepreneurs can register for the fall 2011 round of the Great Lakes Entrepreneur’s Quest, a business-plan competition that pays cash prizes and helps connect start-up businesses with potential investors.

As in years past, GLEQ is divided into two category: New Business Idea and Emerging Company. The top cash prize in each category is $2,500 and $5,000 respectively. Why should entrepreneurs enter GLEQ?

?They should enter GLEQ if they are serious about moving their business forward,?said Executive Director Diane Durance. ?Working with a coach is the best way to get serious support and advice. GLEQ will connect them with lots of resources around the state and get their business plans and ideas in front of investors.?

Durance also announced that the GLEQ finals will take place on Jan. 31, 2012, at Skyline High School in Ann Arbor. Six semifinalists from each category will pitch their business ideas to a panel of investors in front of a live audience of hundreds. Registration closes Oct. 21.

Durance said she expects an influx of entries from those companies that don?t make the semi finals of the $1 Million Accelerate Michigan business plan competition. The semi finalists will be announced Sept. 2. Student semi finalists in the contest will be announced Sept. 30.

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 5 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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