Island Bizplan Contest Seeks Entries - $10,000 in cash prizes offered to support island-based entrepreneurs

By Island Institute | Jan 25, 2013

The Island Institute has announced a new initiative designed to encourage and support entrepreneurs in Maine’s 15 year-round island communities.  The Island Bizplan Contest, made possible through the Island and Coastal Innovation Fund (ICIF), the organization’s subsidiary, offers $10,000 in cash prizes and technical assistance to winners from business start-ups or emerging young companies.

The contest will run from  February 1 to April 12, 2013, and is open to commercial and nonprofit businesses that have physical addresses on Chebeague, Cliff, Frenchboro, Great Cranberry, Great Diamond, Islesboro, Islesford, Isle au Haut, Long, Monhegan, Matinicus, North Haven, Peaks, Swan’s and Vinalhaven islands.  There is no fee to enter.

One first-place award of $7,500 will go to the business or entrepreneur who submits the most commercially viable plan or the nonprofit whose business plan is considered the most likely to achieve long-term sustainability for the organization.  The winner will also receive 10 hours of technical assistance  The second- and third-place awards of $2,000 and $500 will also include 10 hours of professional support.

A panel of three judges will score all entries against objective criteria, and winners will be announced on May 1, 2013.

 

Online contest rules, entry forms and links can be found at http://www.islandinstitute.org/icifislandbizplan.   Only online forms will be accepted for the Island Bizplan Contest. For more information, please email islandbizplancontest@islandinstitute.org.

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