Indiana -Incubicity Business Idea Competition $25,000 Grand Prize

Written on January 18, 2008 by Amanda M. Gladden

This regional business idea competition is in North Central Indiana, specifically Montgomery, Fulton, Benton, Tippecanoe, Cass, Carroll, Tipton, Wabash, Howard, White, Warren, Clinton, Miami, or Fountain counties.

Incubicity is using the competition to promote new businesses and economic growth in North-Central Indiana. More thank $25,000 can be yours if your idea wins.

Competition has two stages in which prizes can be won. The Regional Elevator Pitch and the Final Summit.

A business plan is not required to register and compete—as the post says, it’s a business idea competition.

Regional Elevator Pitch Competitions
Two minutes or less in front of judges comprised of local officials, entrepreneurs, and investors. These elevator pitch contests are scheduled as follows:

Week of January 21st
Week of January 28th

Awards & Prize Money for this stage

From the regional elevator pitch competitions, three (3) finalists will be chosen from each county. Prizes for this portion of the competition:
First place will receive $1000,
Second place $500 and
Third place $250.

Each of the 42 regional winners must then submit a two-page executive summary to a panel of judges where 10 finalists will be chosen and paired with an entrepreneurial mentor. These 10 finalists will appear at the Summit on May 2, 2008

The Summit and Final Competition

All 42 of the candidates (the finalists from the County Elevator Pitch Competitions) will be offered table tops/booth space at the Summit to demonstrate and promote their business. Each will be invited to participate in additional education and networking opportunities as part of the Initiative.

The ten finalists will present their “business pitch” in front of a team of judges separate from those who judged the executive summaries. This pitch will be limited to a five minute presentation followed by a 10 minute period of questions by the judging panel.

Presentations will take place in front of all attendees with the exception of other competing companies yet to present. The pitches will be “judged” on specific criteria developed by the IVC. These pitches will form a portion (10-25%) of the overall score used to determine the winning Business Plan.

Following a review of the business plans and the scoring of the pitches, the top three winners will be announced.

Grand prize winner awarded $25,000
Second prize winner gets $10,000
Third prize winner walks away with $ 5,000

Eligible participants:

Participants must be at least 18 years of age
Have an innovative idea with commercial potential.
Entrants or businesses must reside in Montgomery, Fulton, Benton, Tippecanoe, Cass, Carroll, Tipton, Wabash, Howard, White, Warren, Clinton, Miami, or Fountain counties.
All ideas in varying industries such as: bio-tech, technology, manufacturing, logistics, defense, textiles, agribusinesses, etc. are welcome.

Register at the Incubisity’s website

DEADLINE: JANUARY 25, 2008

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Posted in BusinessPlan Competition, Start up Capital, funding your business

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