The city of Rochester is the latest entrant into the start-up competition trend sweeping the state. Manchester Young Professionals Network and abi Innovation Hub in Manchester have established start-up competitions in recent years to provide seed money and services to fledgling businesses to help them to grow in NH.
This year, the Rochester Economic Development Department and abi Innovation Hub CEO Jamie Coughlin partnered to introduce the 2013 Startup Rochester Business Competition. Judging for the competition, which is being billed as a “Shark Tank” type of event, will be held June 6 at 36 Industrial Way in the Ten Rod Road Business Park from 5:30 to 8 p.m. The five semi-finalists will make their final pitch then.
“This is a growing community, with a lot of potential, and an event like this can really showcase the talent located in New Hampshire and in the city,” says Jon Shapleigh, chair of the Rochester Startup Competition Committee and commercial lender at Bank of NH, the competition’s primary sponsor. “It helps to put Rochester on the map as someplace that is business friendly.”
The winning business plan will receive a $10,000 cash prize as well as more than $7,500 of in-kind services, including office space rent-free for a year. The competition is open to for-profit, technology-focused businesses, formed within the past five years, which have not raised more than $100,000 in funding from unaffiliated parties and with revenues not exceeding $100,000 annually. Contestants had to submit an application and a business plan.
For more information about the competition, visit www.ThinkRochester.biz and click on 2013 Startup Rochester Business Competition application under the Library tab. For free tickets to the event, visit http://2013startuprochester.eventbrite.com.
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