A contest that seeks the next big idea
Since the 2004 inception of the Governor’s Business Plan Contest, more than 2,600 entries have been received, and winning companies have received about $1.7 million in cash and services such as legal, accounting, office space and marketing. Businesses can enter the contest in four categories: advanced manufacturing, business services, information technology and life sciences. Each year, the contest attracts a wide range of startups—including, in recent memory, innovations including fertility devices, intelligent composites and an app for crowdsourcing craft beer. The contest, significantly funded by WEDC, has connected up-and-coming entrepreneurs with a statewide network of expert resources, advice, education and possible sources of capital.
Providing opportunity for innovation success
Organized by the Wisconsin Technology Council and several partners, the contest gives entrepreneurs a chance to hone their business plans and receive public and media exposure for their ideas. The connections made through the contest can result in attracting investors, customers and valuable team members. Even companies that do not make it to the final rounds or pitch stage can gain valuable feedback for refining their business plans and strategies.