Following last year’s hugely successful debut, we are pleased to present the 2017 VETCON Early Stage Business Plan Competition. The competition gives three aspiring veteran business owners the opportunity to pitch their plans to a panel of judges. At stake: more than $15,000 worth of prize money and services.
Participants have until October 27, 2017 to submit their applications and executive summaries. A group of judges will determine which three applicants will have the opportunity to present their business ideas at VETCON 2017. From there, the finalists will produce a 15-minute video presentation, which will be shown at VETCON 2017 Wednesday, November 29. Following the presentations, the panel will award first, second and third place prizes to the finalists.
To enter, email firstname.lastname@example.org with the following information:
- Business name or anticipated name, if pre-startup
- Name of owners and branches of service
- Copies of discharge papers (DD Form 214)
- An executive summary (in 12-point font, 15 pt. spacing and not in excess of four pages) addressing:
- Elevator Pitch – product/service name and category, problem you are solving, proposed solution and why customers will pay you for the benefits
- Team description
- Industry/market/competitive analysis
- Growth plan – why your team and business idea are uniquely qualified to capture the opportunity, and how
- Financial plan – historical financials (if any), annual forecast for three years and expected use of funding prizes
Cash awards are provided by Innovate 518. Legal, accounting and sales training services are provided by Tully Rinckey PLLC, Bonadio and Sandler Training, respectively.
Prize packages are as follows:
- First place: $3,000 cash prize, plus $5,000 in legal, accounting and sales training services
- Second place: $2,000 cash prize, plus $2,750 in legal, accounting and sales training services
- Third place: $1,000 cash prize, plus $1,750 in legal, accounting and sales training services
Rules area as follows:
- At least one presenting team member must be a veteran.
- The veteran ownership in the business (or contemplated ownership, if pre-startup) must be real, substantial and continuing.
- The veteran ownership must have independent authority to control the day-to-day business decisions.
- The business must also have less than two years of operation and less than eight employees.