If you’re an entrepreneur, are part of an early stage company or just have a great idea for a business plan that leverages or employs technology, you should enter the Governor’s Business Plan Contest.  The contest’s Grand Prize is worth at least $50,000 in cash and services.  Other top contestants will also be eligible to receive seed capital and valuable services.

Why enter?

Competing in the BPC will help you gain the basic skills necessary to create a business plan and lead to valuable public and media exposure for the best plans submitted. By competing in the BPC, you’ll also gain access to angel investors, venture capitalists, government advisors and potential mentors through formal and informal BPC channels. 
The BPC is tailored to and targeted at entrepreneurs with limited to moderate independent business experience.  Judges look for important factors such as innovation, relevant expertise, competitive advantage and market opportunity. 
How does the contest work?

The contest runs from January through June and is divided into three phases.  There is no limit to the number of unique entries that a contestant may submit.  However, all entries will fall under one of four categories: Advanced Manufacturing, Business Services, Information Technology or Life Sciences.

Initial Phase 1 entries consist of a 250-word or less IDEA Abstract and are due by on January 31, 2008 at 5:00 p.m. CST.  Entries are scored in four areas on a scale from 1-10 (10 being the highest).  The 50 highest scoring IDEA Abstracts plus ties will advance to Phase 2 of the competition.  To learn more about how to write the Phase 1 IDEA Abstract, click here.

The top 50 IDEA Abstract presenters, plus ties, submit a 1,000-word Executive Summary. The Phase 2 Submission is due by March 13, 2008, at 5:00 p.m. CST.  Entries are scored in eight areas on a scale from 1-10.  The 20 highest scoring Executive Summaries plus ties will advance to Phase 3 of the competition.  To learn more about how to write your Phase 2 Executive Summary, click here.

The top 20 Summary Business Plan presenters, plus ties, prepare for Phase 3 during which contestants will prepare 20-page final Business Plans for judging. The Phase 3 Submission is due by April 24, 2008, at 5:00 p.m. CST.  Business plans are scored in the same eight as the Executive Summaries.  Judges will review the plans and pick one place winners from each category -- Life Sciences, Advanced Manufacturing, Information Technology and Business Services. The top four category winners will present their plans at the Wisconsin Entrepreneurs' Conference on June 9, 2008 in Milwaukee, and a Grand Prize winner will be selected.  To learn more about how to write your Phase 3 Business Plan, click here.