Business Plan Challenge underway soon

Van Wert independent/contributor content

The OSU Extension Van Wert County Economic Development Office, Wright State University Business Enterprise Center and the Van Wert Area Chamber of Commerce have partnered to bring about the Business Plan Challenge — a program that is part business plan competition and part strategic assistance program — that aims to find and support Van Wert County’s next start-up business venture.

The challenge will assist participants through a series of group instructional workshops to help develop a viable business model and the materials needed to apply for the funding that any business needs to start.
After the coaching phase, all participants will have the opportunity to submit their business plan for the business plan competition where a panel of experienced judges will review all of the submissions and select the top business to win $2,500 in business development funds and additional in-kind prizes. The winner will also be eligible for additional counseling services from the Wright State University Business Enterprise Center, a Van Wert Area Chamber of Commerce business membership and up to 2,500 square feet of rent-free space for six months at the Van Wert Area Business Innovation Center.

The Business Plan Challenge is free to qualified applicants who have a good idea or understanding of a product or service to be developed as a for-profit business start-up within Van Wert County. There is no cost; however, each participant needs to complete five different instructional sessions and put forth an effort to develop a business plan and execute the necessary strategies.
The first session is an introductory workshop scheduled for 6 p.m. Wednesday, November 16, at the Van Wert Area Business Innovation Center on Fox Road in Van Wert, where participants will be asked to complete an intent to apply by November 28.

Final business plans are to be submitted to the Van Wert County Economic Development Office no later than January 26, 2012.  Business Plans will be presented to a panel of experienced judges and the award will be given at the Van Wert Area Chamber of Commerce Annual Dinner to be held in early February 2012. Call 419.238.2999 or email myers.688@cfaes.osu.edu to obtain a Business Plan Challenge packet.