Applications Now Being Accepted for the 2015 Rhode Island Business Plan Competition

PROVIDENCE, RI Applications to the 2015 Rhode Island Business Plan Competition, New England’s leading community supported business plan competition, are now being accepted, the organization announced today.

Winners and finalists are expected to take home prizes valued at around $200,000.

The online application is available through the Competition website – at www.ri-biplan.com – and may be completed at any time until 5 p.m. Eastern time on March 30, 2015.

The Competition, free and open to everyone age 18 or over, whether or not they already have started a business, is organized along two tracks. An Entrepreneur Track is available to anyone, and a Student Track is optionally available for those enrolled in college or graduate school.

“Writing a compelling business plan takes time, which is why we suggest applicants start working on their plan now and use it to file their application near the deadline,” said Peter Lowy, executive director of the Competition. “Since the judges won’t evaluate applications until after the deadline, there is no advantage to applying early. It’s better to use the time to flesh out your idea.”

Here’s the schedule the Competition will follow:

  • March 30 – Applications due
  • April 6 – Semi-finalists selected and asked to submit complete plans by April 14.
  • April 22 – Semi-finalists meet briefly with the judges
  • April 22 – Finalists notified of their selection.
  • April 29 – Finalists meet with judges

Winners will be announced in May, exact date to be determined, at an Awards Ceremony at The Garage, a half-day business development conference sponsored by the Greater Providence Chamber of Commerce, held at the Rhode Island Convention Center.

Sponsors of the 2015 Competition

Lead sponsors of the 2015 Competition are Cumulus Media-Providence, Edwards Wildman, Embolden, Focus Vision Media, Hinckley Allen, KLR, and the Providence Journal Charitable Fund.

Also supporting the Competition are Bank of America, Brown University, Bryant University, Center for Women and Enterprise, Envision Technology Advisors, FM Global, Greater Providence Chamber of Commerce, Hatch Entrepreneurial Center, Johnson & Wales University, Providence Business News, Roger Williams University, Slater Technology Fund, University of Rhode Island, and Utilidata.

Additional supporters include Bank Rhode Island, Business Development Company, Care New England, Centreville Bank, Cherrystone Angel Group, Citizens Bank, Deepwater Wind, Delta Dental of Rhode Island, Dimeo Construction Company, Gencorp Insurance Group, GTECH, The Moore Company, Morgan Stanley Wealth Management, Navigant Credit Union, Nortek, Rhode Island Student Loan Authority, Santander Bank, Teknor Apex, The Washington Trust Company, and Ximedica.

Additional support is provided by AAA Southern New England, Bank Newport, Betaspring, Biomedical Structures, Community College of Rhode Island, CVS Health, Freedom National Bank, Hayes & Sherry Real Estate Services, InsureMyTrip.com, Rhode Island College, Starkweather & Shepley, and Tech Collective.

About the Competition

Established in 2000, the Rhode Island Business Plan Competition has been recognized as one of the top 40 business plan competitions in the country. To date, it has awarded more than $1.6 million in prizes to competitors developing companies across many industries.

In addition to awarding prizes, the Competition hosts educational events in the months leading up to the application deadline. They include business development, financial planning, and presentation skills workshops. In addition, the competition hosts the annual Rhode Island Elevator Pitch Contest. Complete information, including rules, application procedures, guidelines, and business plan resources, is available at www.ri-bizplan.com.

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Avatar About the Author: The Rhode Island Small Business Journal is a printed monthly magazine and an online resource for the aspiring and start-up entrepreneur and small business owner.

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