The Manchester Young Professionals Network has launched a statewide business plan competition with a total prize package exceeding $55,000. The 2013 MYPN New Hampshire Startup Challenge will allow one lucky entrepreneur to walk away with the financial resources and professional support necessary to get his or her business off the ground.
The MYPN NH Startup Challenge is a statewide business plan competition designed to encourage entrepreneurship and 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 2013 revenue. Contestants must email a minimum one to two page summary of a business plan or idea to startup@mypn.org by April 22 in order to qualify.
Over the past four years we have awarded over $155,000 in cash and in-kind services to New Hampshire startups, said E.J. Powers, co-chair of the MYPN NH Startup Challenge. Unlike other competitions, the NH Startup Challenge is open to any New Hampshire entrepreneur, is winner-take-all and winner-keep-all. The winner gets 100% of the prize package and keeps 100% equity in their company. If you ever had an inclining to start a business, the time is now.
The winner will receive a prize package of:
- Up to $25,000 in cash
- Over $20,000 in advertising support from Business NH Magazine
- An ultimate startup experience courtesy of Dyn consisting of airfare to Austin, TX, three days and two nights' accommodations, two-day pass to the South By Southwest (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.
- Accounting services from Howe Riley & Howe
- Legal, marketing and financial planning services
- Applications can be submitted now through April 22.
On May 6 up to 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 21st at the abi. On May 24th two finalists will be selected to hone their business plans and prepare for a closed presentation to a panel of judges on June 4th. The competition will culminate in late June where the two finalists will have one last opportunity to pitch before a live audience. Ultimately one will walk away with up to $55,000 in cash and prizes.
Public Service of New Hampshire is the presenting sponsor of the MYPN New Hampshire Startup Challenge. Current sponsors include Business NH Magazine, Dyn, FairPoint Communications, Centrix Bank, abi Innovation Hub, and Howe, Riley & Howe.
We strongly believe in MYPN and its mission and have been proud supporters of the NH Startup Challenge since its inception, said Pat McDermott, Manager Community Relations and Economic Development for Public Service of New Hampshire. PSNH is committed to supporting programs that help strengthen New Hampshire's economy. This competition is a tangible way for us to do that. We encourage other businesses to join us in this effort.
The MYPN NH Startup Challenge committee consists of Jamie Coughlin, abi Innovation Hub; Josh Delisle, DYN; E.J. Powers, Montagne Communications; Mike Skelton, PSNH; and George Tzimas, Morgan Stanley Wealth Management / The Schubert Group.
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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