Business Plan Competition FAQ’s
Does the business plan have to be a new venture?
The 2018 competition is for new and existing businesses.
What will I be required to do?
Three phase competition: Pre-entry (deadline is February 5th, 2018)—Phase I, which requires a Business Overview submittal, those selected move on to Entry (deadline March 19, 2018)—Phase II, which requires a draft business plan and a $50 entry fee, those selected move on to Finalist (deadline April 16th, 2018)—Phase III, which requires a complete business plan and presentation to judging panel for award decisions.*
Does the business have to be located in San Angelo?
Competition is for new and existing ventures to be located in San Angelo or its ETJ (3.5 miles outside city limits)
What are the important dates of the competition?
What constitutes primary jobs*
Preference will be given to business plans that create primary jobs. Primary jobs are those created when the majority of the products or services of that company are ultimately exported to regional, statewide, national, or international markets infusing new dollars into the local economy; and included in one of the required NAICS code listed in the link below:
What is awarded to the winner of the competition?
Up to $50,000 in cash prizes can be awarded. Also, in-kind services provided by local businesses.*
What NAICS Code does my business need to fall under?
Contact a SBDC advisor to get assistance in determining your business NAICS Code (325)-942-2098
Who is coordinating the competition?
ASU Small Business Development Center, ASU Norris-Vincent College of Business, and The City of San Angelo Development Corporation (COSADC)
Will there be assistance provided to me in completing the different phases of the Business Plan Competition?
Guidance to complete business overview and business plan is available from ASU Small Business Development Center and from ASU’s College of Business students under the supervision of SBDC Business Advisors.