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2007 Rhode Island Business Plan Competition Launched; Will Award $125,000 in Prizes

Posted on: Thursday, 7 September 2006, 09:20 CDT

The Rhode Island Business Plan Competition today launched its 2007 season and announced that it will award more than $125,000 in prizes, making it one of the richest business plan competitions in New England.

The competition, which is open to anyone with an idea for a new business, will name an entrepreneur winner and a student winner next May. Applicants need not be based in Rhode Island, but they must agree to establish or expand business operations in Rhode Island if they win.

Charles Kingdon, associate vice president of Brown Technology Partnerships at Brown University and competition co-chair, said, "The Rhode Island Business Plan Competition makes us one of the largest if not largest prizes in New England. These prizes, which include cash and in-kind services, can significantly help a young company on its way to success."

Added co-chair Garrett B. Hunter, president of the Business Development Company of Rhode Island, "There's a tremendous amount of enthusiasm for the competition, as evidenced by the range and number of applications we received last year and by the growing support for the competition by organizations throughout Rhode Island."

Last year's competition, which garnered applications from across the United States, awarded $115,000 in prizes to two winners.

Twenty-three Rhode Island organizations, including public and private companies, universities and colleges, and public agencies, are supporting the 2007 competition with cash contributions and in-kind services.

"Start-up and early stage companies play a pivotal role in the future well-being of Rhode Island, and this business plan competition provides an excellent way for existing and emerging entrepreneurs to participate," said Gerald F. Cerce, chairman of Cherrystone Angel Group, a local investing group that provides early stage capital to startup companies.

Laurie White, president of the Greater Providence Chamber of Commerce, said, "New businesses have been integral to Rhode Island's history from the beginning, and the Rhode Island Business Plan Competition provides yet another way for emerging companies to grow."

Winners of the 2007 competition will be announced at the May 1 meeting of the Brown Forum for Enterprise, to be held in conjunction with the Business Expo sponsored by the Greater Providence Chamber of Commerce.

Sponsors of the 2007 Competition

Sponsors of the 2007 Rhode Island Business Plan Competition include: Brown Rudnick Berlack Israels, LLP, Hinckley, Allen & Snyder LLP, and Kahn, Litwin, Renza & Co., Ltd., Brown University, Edwards Angell Palmer & Dodge, LLP, Embolden Design, and Nortek, Inc.

Also supporting the competition are: Brown Forum for Enterprise, Business Development Company of Rhode Island, Cherrystone Angel Group, Citizens Bank, CVS/pharmacy, Greater Providence Chamber of Commerce, Johnson and Wales University, Point Judith Capital, Providence Business News, Rhode Island Commodores, Rhode Island Economic Development Corporation, Slater Technology Fund, Sovereign Bank, Naval Undersea Warfare Center, Tech Collective, and University of Rhode Island.

Full information is available at www.ri-bizplan.com.

 CONTACT: Peter Lowy 781-326-9980 Contact via http://www.marketwire.com/mw/emailprcntct?id=3520541E05543062  

SOURCE: RI Business Plan Competition

Source: MARKET WIRE

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