PROVIDENCE – The Rhode Island Business Plan Competition has been renamed the Rhode Island Business Competition, the organization announced Wednesday.
The move was made to clarify the purpose of the competition, said competition Executive Director Peter Lowy.
“We want to emphasize the fact that we’re all about fostering the development of emerging companies in Rhode Island,” said Lowy in a statement. “Dropping ‘Plan’ from the name puts the emphasis on business competition and avoids suggesting, as some people from time to time think, that the competition awards prizes for the best-written or most-attractive document.”
The organization also reminded that the competition will still require the submission of a full business plan.
The next competition will launch in October, with two tracks, an Entrepreneur Track for those 18 years or older and the Student Track for any 18 years or older student enrolled at an accredited college or university.