The Business Development Company of Rhode Island and the Rhode Island Economic Development Corporation have kicked off a business plan competition that will award a $50,000 cash prize to the winner to establish a company in Rhode Island. Called the “Rhode Island Business Plan Competition,” the contest is open to any individual or team with an innovative idea to start a new business or take an early stage company to the next level.
The BDC – an affiliate of the Greater Providence Chamber of Commerce that was founded in 1953 — is underwriting the prize and co-organizing and promoting the competition with the RIEDC. The BDC works with member banks and other senior lenders to assist manufacturing, distribution, and service businesses retain and expand employment in Rhode Island by providing debt and equity to fund new equipment and construction, working capital and business expansion.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
Learn More
”Rhode Island has always been a great place to start and develop innovative businesses,” said BDC President Garrett B. Hunter. “The business plan competition is a new way to invite entrepreneurs, no matter where they are, to establish themselves here and grow.”
Applications for the competition will be accepted after Jan. 1, 2001, and the winner will be named on May 10, 2001.
A Web site, with complete rules and procedures about the contest is now online at www.ribizplan.com.
Joseph P. Hammang, director of science and technology at the EDC, said the business plan competition is part of a comprehensive effort on the part of the EDC to grow high-tech companies.
In addition to competing for the top prize, the best business plans submitted may have the opportunity to present to an audience of venture capitalists at Venture 2001 in Providence.
