Members Helping Members - Educating, Informing, Supporting
The Development Corp of Knox County announces it's annual Business Plan Competition. I was a participant last year, it was an amazing experience. This is way more than an exercise in writing a biz plan. Far from it. The competition spans the entire startup process, getting funding, marketing, pitching to investors, and so on. I came in 3rd place last year with my biz plan for Knoxville Robots. That plan is on the back burner for the moment (I'm busy "grabbing lunches"), but I can not overstate how much I learned about start up funding, seed rounds, devaluation, and so on.
The first cut of the Top 10 applicants get to attend a six week course (in the evening) to prepare your ideas for the final phase: the pitch competition. Getting to attend that course provided by Tech2020, for free, is by itself a tremendous prize to win. The grand prize, incidentally, is valued over $23,000, and $8,000 for the second prize.
And Yes, I said there is a pitch competition. The Top 6 businesses get to pitch their business plan to a panel of investors, entrepreneurs, and all around tough judges. Think you're too scared to handle the pressure? Well, then you have to consider if you're cut out to be an entrepreneur. There, I said it! But really, the judges and auditorium of 100 people were all extremely nice. And the advice from the judges was also a great value. Think of it like a crowd sourcing session with the EOK, times 100!
Please, if you have any questions, ask me anytime. I'd love to help anyone flush out their ideas.
The entry for the competition has a deadline of April 14th. First advice: read the rules carefully when submitting your application.