PROVIDENCE – (Nov. 2, 2010) – The Rhode Island Business Plan Competition today announced that Johnson & Wales University, the Rhode Island Economic Development Corporation, and Ximedica, a leading, Providence-based developer of medical and healthcare products, have committed to support the 2011 competition.
The three entities are inaugural members of the newly formed Pillar Society, which is composed of organizations that contribute at least $10,000 annually to the Rhode Island Business Plan Competition.
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Pillar Society members will be cited at the Greater Providence Chamber of Commerce annual meeting on Nov. 22.
“The exemplary leadership of Johnson & Wales, RIEDC, and Ximedica underscores the broad and growing support of the competition across the state,” said Competition Co-Chair Larry Davidson, principal with the Providence-based accounting firm of Kahn, Litwin, Renza & Co., Ltd.
“We’re particularly delighted that Ximedica, an entrepreneurial company that has its roots in Rhode Island, is helping to nurture the next generation of entrepreneurs,” he added.
Stephen Lane, CEO of Ximedica, said, “As a company that has thrived in Rhode Island, we feel it is important to help foster new entrepreneurs. We’re honored to support the Rhode Island Business Plan Competition.”
The 2011 competition, launched last month, will culminate in May when winners are announced at Business Expo 2011.
Sponsors of the 2011 Competition
Lead sponsors of the 2011 competition are Johnson & Wales University, the Rhode Island Economic Development Corporation, and Ximedica, along with Embolden, Hinckley, Allen & Snyder LLP, Kahn, and Litwin, Renza & Co., Ltd.
Also supporting the competition are: Bryant University, Business Development Company of Rhode Island, Cherrystone Angel Group, Citizen’s Bank, Federal Electronics, Inc., Greater Providence Chamber of Commerce, Morgan Stanley Smith Barney, Point Judith Capital, Rhode Island Center for Innovation & Entrepreneurship, Tech Collective, and University of Rhode Island.
About the Competition
Established in 2000, the Rhode Island Business Plan Competition has become an important element of the Rhode Island entrepreneurial landscape. To date, it has awarded more than $820,000 in prizes to competitors developing companies that span a number of industries.
In addition to awarding prizes, the competition hosts educational events in the months leading up to the application deadline in early April. They include writing, financial planning, and presentation skills workshops. In addition, the competition will host the annual Rhode Island Elevator Pitch Contest on Dec. 8, in which participants have 90 seconds to make a presentation to a panel of judges, who then provide constructive feedback and award cash prizes.
Complete competition information, including rules, application procedures, guidelines, and business plan resources, is available at www.ri-bizplan.com.
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