Contact:
Marlene Smith at 608-442-7557 and visit
www.govsbizplancontest.com
MADISON – Fifty-two contestants from 23 communities across Wisconsin are
competing in Phase 2 of the second Wisconsin Governor’s Business Plan
Contest, contest producers announced Friday.
The contestants were selected this week from a field of 200 entries by
an independent panel of judges organized through the Wisconsin
Technology Council, which is producing the contest in conjunction with
its membership subsidiary, the Wisconsin Innovation Network, and other
statewide affiliates.
“Our judges were impressed by the quality of the brief business plan
ideas submitted by entrepreneurs from across Wisconsin – so much so that
it was difficult to reduce the number of plans selected for the next
phase of competition,” said Mark Bugher, chairman of the Tech Council.
“The quality of the competition so far supports our belief that
Wisconsin has the ideas and the entrepreneurs necessary to succeed in
the 21st century economy. This contest will help some of the ideas grow
into companies.”
The 52 contestants competing in Phase 2 of the contest are writing
summary business plans of no more than 1,250 words. The eight elements
of that plan include an executive summary, product and service, customer
definition, market size, sales and marketing strategy, management team,
financial highlights, capital requested and planned use of funds.
Summary plans must be submitted to the Tech Council by 5 p.m. March 15;
Phase 2 judging will take place throughout until April 1. The top 20
plans will move on to Phase 3, in which contestants will write a full
business plan. Prize winners will be announced June 7-8 at the annual
Wisconsin Entrepreneurs’ Conference, to be held at the Milwaukee Hyatt
Regency.
Here is a breakdown of entries that advanced by category: Advanced
Manufacturing (15), Business Services (13), Information Technology (13),
and Life Sciences (11).
Communities with plans represented in Phase 2 are: Madison (9);
Milwaukee (8); Green Bay (5); Brookfield and Fitchburg (3 each); Eau
Claire, Hortonville, Middleton, Pewaukee, Sturtevant and Wind Lake (2
each); Bayside, Brown Deer, Elm Grove, Franklin, Hartland, Kimberly,
Oconomowoc, Oregon, Rothschild, Verona, Wauwatosa and West Allis.
Sponsors of the first Wisconsin Governor’s Business Plan Contest include
the state Department of Commerce, American Transmission Co., Mason Wells
Private Equity, the law firm of Michael Best & Friedrich, the law firm
of Axley Brynelson, Madison Gas & Electric, Wisconsin Technology
Network, J.P. Cullen and Sons, the architectural firm of Potter Lawson,
Loughrin Accounting and Tax Services and the Wisconsin Technology
Council.
