R.I. Business Plan Competition launching 2017 contest

THE RHODE Island Business Plan Competition said it will launch its 2017 competition next month.
THE RHODE Island Business Plan Competition said it will launch its 2017 competition next month.

PROVIDENCE – The Rhode Island Business Plan Competition said it will launch its 2017 contest next month.

The competition culminates in May with the awarding of prizes expected to exceed $200,000 in value.

A new feature of the competition this year will be prizes for all teams that submit a completed application, not just winners and finalists, in the form of free coworking space, including free parking and access to meeting rooms, provided by Sprout at the Rising Sun Mills campus.

Competition Co-Chair Margaret “Peggy” Farrell, partner with the law firm of Hinckley Allen & Snyder LLP, said they are thankful that Sprout is “generously offering free work space to all applicants this year.”
“It’s an important step forward, and demonstrates how existing businesses can participate in the growth of emerging companies,” Farrell said in prepared remarks.

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A kick-off event will be held Oct. 6, marking the first of six free public events and educational workshops that the competition will host through March. It will run from 5:30-7 p.m. at Tech Collective, 166 Valley St., Building 3. Pre-registration is required and may be completed online at ri-bizplan.com.

Previous winners will update those who attend the Oct. 6 event on the progress of their business ventures since participating in the competition. Other previous winners, finalists and semi-finalists will be in attendance, providing a networking opportunity to meet emerging Rhode Island entrepreneurs.

Since 2001, when the competition first awarded prizes, 152 competitors have been named winners, finalists or semi-finalists. More than 40 are operating today, employing 400 people, with plans to hire at least another 100 people by next spring.

Other upcoming events include the annual Rhode Island Elevator Pitch Contest on Nov. 15 and a Business Resource Briefing on Dec. 6.

Lead sponsors of the 2017 Competition are Hinckley Allen, KLR, Bryant University and Sprout.

Also supporting the 2017 Competition are Betaspring, Business Development Company, Center for Women and Enterprise, Cherrystone Angel Group, Citizens Bank, Classic Hassocks, Delta Dental of Rhode Island, Envision Technology Advisors, Greater Providence Chamber of Commerce, Newport Biodiesel, Rajiv Kumar, Richard Carriere, Social Enterprise Greenhouse, Tech Collective and Verizon.

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