About the Contest
The mission of the Governor’s Business Plan Contest is to encourage entrepreneurs in the startup stage of tech-based businesses in Wisconsin. The contest links up-and-coming entrepreneurs with a statewide network of community resources, expert advice, high-quality education, management talent and possible sources of capital.
Since its inception in 2004, more than 3,100 entries have been received across four categories – advanced manufacturing, business services, information technology and life sciences. The contest has led to cash and in-kind prizes (such as legal, accounting, office space and marketing) valued at about $2 million. More important: Contest finalists have raised more than $160 million in angel, venture, grants and venture debt over time. Those same finalists have stayed in business much longer than normal when compared to U.S. startup rates – and they are creating jobs.
Produced by the Wisconsin Technology Council and a growing list of partners, the Governor’s Business Plan Contest engages contestants in a five-month process that includes the opportunity to work with mentors and receive feedback from judges. It also leads to valuable public and media exposure for the top business plans and helps spur economic growth in Wisconsin.
The contest includes three written phases. Phase 1 entries, 250-word (or 2,000-character) idea abstracts, were due 5 p.m. Jan. 31, 2016. Contestants that advanced to Phase 2 submitted a 1,000-word (or 8,000 character) executive summary. The field was then further narrowed down for Phase 3, which required a 15- to 20-page business plan. The “Diligent Dozen,” or top 13 finalists (including a tie), squared off in the final phase of the contest with oral presentations during the Wisconsin Entrepreneurs’ Conference on June 2 at the Alliant Energy Center in Madison.
To get started, contestants create a simple account. All entries are submitted directly through the website. Contestants use the account to gain access to mentors throughout the process, as well as review the judges’ comments and feedback.
This statewide contest is an opportunity to compete for cash and prizes, but it’s also a chance to get constructive feedback on your business plan and to help move it from a virtual business to a reality. In 2016, finalists will once again have the opportunity to share in upwards of $100,000 in cash and services!
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