Calling All Entreprenuers: The Great Valley Business Plan Competition Accepting Entries

The Great Valley Technology Alliance (GVTA) is now accepting applications for its Eighth Annual Business Plan Competition, giving aspiring entrepreneurs from across the region an opportunity to compete for cash, in-kind services and regional expertise.

In response to a December 1999 Batelle report identifying the need to strengthen local entrepreneurship, GVTA leaders developed the business plan competition to provide students with the skills to start their own business, as well as the guidance to create an effective business plan. Participants will also have the opportunity to network and interact with some of the area’s most successful people.

The competition is open to students from the area’s fifteen colleges and universities, along with non-collegiate teams; and, new this year, an “open” category will accept start-up technology businesses based in Northeastern Pennsylvania.

All business plan registrations are due by March 22 and business plans are due by April 9. Finalists will be selected on April 23. Then on May 3, finalists will present their plans to a panel of judges at the Scranton Enterprise Center. An awards dinner will follow on May 6 at Mohegan Sun.

Business plans will be judged based upon:

• Focus
• Uniqueness and economic feasibility
• Ability to protect intellectual property, technology
• Evidence of customer acceptance
• Proposed use of financial resources
• Exit strategy for investors
• Expertise and abilities of the team
• Finalists will be required to deliver a formal presentation to a panel of judges
• Growth relating to job creations and revenue projections

Two upcoming help sessions are scheduled to aid contestants: Wednesday, March 17, a help session on “Operations & Marketing” will be held at Junior Achievement in Pittston; and on Wednesday, March 24, a help session on “Finance & Execution” will be held at Junior Achievement in Pittston. An additional help session will be held on April 28 at NEPA Alliance – between the finalist selection and presentation phases – on “Presentation Skills.” Each help session includes volunteer professionals from various business functions who will be available to answer your questions on how to develop a business plan.

Past winners of the GVTA Business Plan Competition include:

• Breaker Boy Drums
• Cognition Media
• Perfectlawyer.com
• Hanna Chem
• Eleven Moons

To register for the Business Plan Competition, visit www.greatvalleyalliance.com/bpc-reg.php and complete the form. For additional rules and criteria, visit the GVTA site at www.greatvalleyalliance.com. For any other questions, contact Robert Watts of GVTA at rwatts@greatvalleyalliance.com or 570-341-8099.