Mason City, IA – April 6, 2009 - The deadline for entry into the 2009 John Pappajohn Iowa Business Plan Competition is just around the corner. New and start-up businesses (in business for less than 6 years) are eligible to enter the competition for the chance to win up to $25,000.
The first round of the competition is open until May 1. For this round, applicants are only required to fill out the online entry form and submit it with an Executive Summary of the business plan. Based on these Executive Summaries, judges will select and contact businesses to submit full business plans. The selected businesses will be contacted between May 1 and May 15 and must submit full business plans by June 30. The business plans will be reviewed and seven to ten companies will be selected to present their business plans to the judges. These businesses will be contacted the week of July 27 to schedule presentation times. Presentations will take place between Sept. 7 and Sept. 11.
After presentations are completed, three finalists will be notified. Each finalist will prepare a 15-minute presentation to be given at the Iowa Venture Capital and Entrepreneurs Conference (IVCEC) in Des Moines on Oct. 6. Winners will be announced following the presentations.
The John Pappajohn Iowa Business Plan Competition is designed to stimulate business development and provide support for outstanding business plans. This year a total of $50,000 will be awarded to the top three submitted business plans ($25,000 for first prize, $15,000 for second and $10,000 for third). Honorable mention and $1,000 will be awarded to additional companies.
Assistance with business plan entries is available at the Iowa John Pappajohn Entrepreneurial Centers located at Drake University, Iowa State University, North Iowa Area Community College, the University of Iowa and the University of Northern Iowa; the Small Business Development Centers throughout the state; and the business accelerators in Ames, Cedar Rapids, Davenport, Dubuque, Iowa City, Red Oak and Mason City.
The John Pappajohn Entrepreneurial Centers provide entrepreneurial education and business support, partnering with agencies like the Small Business Development Center (SBDC), the Iowa Department of Economic Development (IDED), Entrepreneurial Development Centers (EDCs) and local entrepreneurs to assist with funding and other business needs.
Rules, eligibility, timelines and assistance information are available at the competition website, www.iowabusinessplancompetition.com.