Business competition provides opportunity for entrepreneursThe official call for entries in the second annual Northwest Wisconsin Regional Business Idea Contest was announced by Scottie Sandstrom and Bill Whalen, members of the Lake Superior Chapter of the Wisconsin Innovation Network
The official call for entries in the second annual Northwest Wisconsin Regional Business Idea Contest was announced by Scottie Sandstrom and Bill Whalen, members of the Lake Superior Chapter of the Wisconsin Innovation Network
Sandstrom, executive director of Bayfield County Economic Development Corporation and Whalen, mayor of the city of Ashland, co-chair the Business Idea Contest committee. They said up to 12 contest finalists will vie for $5,000 in cash prizes to be awarded late this summer, after each finalist has made a two-minute presentation to judges at the 2013 WIN - LS Business and Technology Conference.
The eighth annual conference is Aug. 9 at Wisconsin Indianhead Technical College in Ashland.
“Last year’s contest yielded three cash prize winners, and the top Business Idea award went to Scott Johanek of Muto Brands, and his business presentation for custom baggage,” Sandstrom said. According to Whalen, Johanek and the other winners are all interested in starting businesses in the region. “The presentations were an exciting learning experience for contestants and attendees alike.”
Contest eligibility requirements and applications forms are available online at www.bayfieldcountyedc.com, www.ashlandareadevelopment.com, www.wisconsininnovationnetworkls.com, www.
Applications are due June 7 and must include a summary of the business idea, potential customer problem solved or need filled, the competitive advantage of the business, the market definition and size, distribution channels, and a financial summary of start-up and growth stages.
Finalists will be notified June 17 and invited to participate in an Entrepreneur’s Edge Boot Camp training program July 8. Additional preparation will also be provided during the week of July 22 prior to the Aug. 9 conference presentations. Economic development organizations in Ashland, Bayfield and Douglas counties assist the winners in taking additional steps in their business start-up journey after the contest has concluded.