The Manchester Young Professionals Network has launched the state's largest business plan competition with a total prize package exceeding $35,000. The 2012 MYPN New Hampshire Start Up Challenge will allow one lucky entrepreneur to walk away with the resources necessary to get his or her business off the ground.
The MYPN NH Start Up Challenge is a statewide business plan competition designed to encourage entrepreneurship and social innovation. Applicants must be a New Hampshire resident and an owner or founder of a business. Startup's must be for-profit, have been in existence for less than three years, have raised under $100,000 in funding and generated under $100,000 in 2011 revenue. Contestants must email a minimum one- to two-page summary of a business plan or idea to startup@mypn.org by April 16 in order to qualify. Conestants are highly encouraged to submit a video pitch with the written submission.
The winner will receive a prize package of:
Up to $25,000 in cash
Ultimate South by Southwest (SXSW) Experience courtesy of Dyn consisting of airfare to Austin, TX, three days and two nights' accommodations, two-day pass to SXSW Interactive and a VIP pass to the Dyn SXSW Music Meets Tech Party
Seat in the abi Innovation Hub's Accelerator Program and one-year residence at the abi
Legal services from McLane Law Firm
Accounting services from Howe Riley & Howe
The Start Up Challenge offers the unique opportunity for entrepreneurs to take the first step in realizing their dream, said E.J. Powers, co-chair of the MYPN NH Start Up Challenge. We intend to growing the prize package as the competition heats up and we welcome businesses to come forward with additional sponsorship dollars and in-kind services.
Applications can be submitted now through April 16. On April 20, five contestants will be selected to participate in a series of educational forums coordinated by the abi Innovation Hub. The semi-finalists will draft and submit a formal business plan and have an opportunity to pitch before a live audience on May 17th at the abi. On May 22, two finalists will be selected to hone their business plans and prepare for a closed presentation to a panel of judges on May 31. The competition will culminate with a final live pitch event June 20 before a packed house at the NH Institute of Politics at Saint Anselm College. Two finalists will field questions and answers from the audience and judges and ultimately one will walk away with over $35,000 in cash and prizes.
The NH Start Up Challenge was created in 2008 by MYPN, the state's first and largest young professional networking organization. Over the past four years $100,000 has been awarded to New Hampshire startups.
"The Start Up Challenge has been a consistent game changer for entrepreneurship here in New Hampshire. Identifying and funding exciting new startups, as well as providing ongoing mentorship and residency are critical ingredients to creating a more dynamic ecosystem. If you are looking to take your startup to the next level, now is your opportunity," says Jamie Coughin, CEO and entrepreneur-in-residence at the abi Innovation Hub.
Public Service of New Hampshire is the presenting sponsor of the MYPN New Hampshire Start Up Challenge. Current sponsors include Dyn, abi Innovation Hub, McLane Law Firm and Howe, Riley & Howe, Montagne Communications and Business NH Magazine.
Sponsors can contact E.J. Powers at epowers@montagnecom.com.
Past judges include, Phil Ryan, Merchants Automotive Group; Kathleen Cook, Bean Foundation; Alex Allen, City Year NH; Richard (Dick) Kimball, Bigelow & Company; Matthew Pierson, Dunn & Pierson; John Weeks, Bank of America; Jeremy Hitchcock, Dyn; Gray Chynoweth, Dyn; and Steve Webb, TD Bank.
For more information and complete rules of the competition, visit www.mypn.org/nh-start-up-challenge.
MYPN was formed in 2004 to create business opportunities, support community involvement and to foster an overall investment in the future of Manchester. MYPN members gain access to community leaders, equally motivated peers, and develop future skills. The organization helps to improve its members' professional skills, expand their contact base, and provide the opportunity to promote themselves and their business in a relaxing setting. www.mypn.org.
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