SOURCE: RI Business Plan Competition

RI Business Plan Competition

March 10, 2011 09:00 ET

Rhode Island Business Plan Competition to Award More Than $250,000 in Prizes

Top Winner Will Get $50,000 in Cash in May

PROVIDENCE, RI--(Marketwire - March 10, 2011) - The Rhode Island Business Plan Competition, the largest publicly supported business plan competition in New England, today announced that it will award more than $250,000 in prizes -- including $50,000 in cash to the top company -- when winners are named in May.

The prize pot is nearly 30 percent greater than the total value of prizes awarded last year.

Included in the prizes is $50,000 in cash to be awarded to a single company -- more than triple the top cash award of last year. That winner will also receive approximately $28,000 of in-kind services.

The announcement was made in advance of the April 4 deadline to apply to the competition.

In addition to the increased value of prizes to be awarded this year, a record 49 organizations currently support the competition, up from last year's 37. Included are businesses, nonprofits, foundations, colleges and universities, public agencies, and, for the first time, a previous competition participant.

Competition Co-Chair Larry Davidson, principal with the Providence-based accounting firm of Kahn, Litwin, Renza & Co., Ltd., said, "The Rhode Island Business Plan Competition took a significant leap forward this year -- with more organizations than ever before stepping up as sponsors. This tremendous support has allowed us to greatly increase the value of prizes we will award."

Winners will be announced May 3 at RIBX (formerly Business Expo 2011), to be hosted by the Greater Providence Chamber of Commerce at the Rhode Island Convention Center in Providence.

The competition is open to anyone with an innovative business plan. All applicants must be at least 18 years of age and must agree to use winnings to establish or expand a business in Rhode Island. Complete competition information, including rules, application procedures, guidelines, and business plan resources, is available at www.ri-bizplan.com.

About the Competition

Established in 2000, the Rhode Island Business Plan Competition aims to develop the entrepreneurial spirit in Rhode Island and help create growth companies that will increase local employment. To date, it has awarded more than $820,000 in prizes to companies that span a number of industries.

Contact Information

  • CONTACT:
    Peter Lowy
    Business Communication Strategies
    T: 617-734-9980
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