Business Plan Competition FAQ’s
Q: Does the business plan have to be a new venture?
A: The 2016 competition is for new ventures only. Existing businesses that are creating new ventures are also eligible.
Q: What will I be required to do?
A: Three phase competition: Pre-entry (deadline is Feb 2nd, 2016)—Phase I, , which requires a Business Overview submittal, those selected move on to Entry—Phase II, which requires a draft business plan and a $50 entry fee, those selected move on to Finalist—Phase III, which requires a complete business plan and presentation to judging panel for award decisions. *
Q: Does the new business have to be located in San Angelo?
A: Competition is for new ventures to be located in San Angelo or its ETJ*
Q: What constitutes primary jobs*
A: Preference will be given to business plans that create primary jobs. Primary jobs are those created when a business generates 80% of its revenue from outside San Angelo market area.
Q: Who is coordinating the competition?
A: ASU Small Business Development Center, ASU College of Business, & The Business Factory
Q: Will there be assistance provided to me in completing the different phases of the Business Plan Competition?
A: Guidance to complete business overview and business plan is available from ASU Small Business Development Center and from students from the ASU College of Business.
Q: What is awarded to the winner of the competition?
A: Up to $25,000 in cash prizes can be awarded. Also in-kind services provided by local businesses. *
Q: What are the important dates of the competition?