Microsite 2017 StartRight! Women's Business Plan Competition

Description

The StartRight! Women's Business Plan Competition was founded in 2004 by Rockville Economic Development, Inc. (REDI) to encourage and support women’s entrepreneurship. Now run by the Maryland Women's Business Center, an initiative of REDI, StartRight! awards prizes for winning business plans each year. The women who enter our competition receive more than the opportunity to win a top prize of $5,000; they also receive valuable coaching and feedback on their business plan!

There are thousands of dollars in prize money with a top prize of approximately $5,000!

Complete plans are due electronically along with three hard copies delivered to our office in Rockville no later than 3:00 PM EST on Thursday, June 1, 2017. It is highly recommended that you do not wait until just prior to the 3pm deadline to upload your plan in case of technical difficulties or delay. You may drop off the three hard copies to our office by 5:00pm Thursday, June 1 or send hard copies by postal mail. Business plans must be received both electronically and in hard copy form by the deadlines. All postal mail MUST be postmarked by Thursday, June 1, 2017. Failure to do so may result in your entry being disqualified.

No special format is required for the business plan, but it may not exceed 25 pages (excluding appendices), and it must contain the following:

Executive Summary - Limited to 2 Pages and must Include:
- Name of business/trade name
- Legal structure of entity
- Percentage of women ownership
- Principal contact name, address (including city and state where business is located), phone, email, and website URL (if applicable).
Table of Contents
Description of the business (including location, long and short-term goals, products/services offered)
Market Analysis (including industry overview/description, competition, target market, competitive advantage)
Marketing Plan
Management and Operations Plan (including brief bios and job descriptions of key positions and hiring plan)
Financial Projections - must cover 3 years of projections including Income Statements (monthly for 1st year and quarterly for years 2 and 3) and Balance Sheets

Please note, failure to include any of the above-noted elements of the business plan may result in disqualification.

If you have additional questions or need assistance, contact donna@marylandwbc.org or call us at 301-315-8091.

Rules

Rules for submitting your Business Plan:

Business must be in operation for three years or less. Companies may be in the pre-start-up phase.
Business must be at least 51% woman-owned.
Business must be registered and in good standing with the State of Maryland.
Primary business residence must be in the State of Maryland.
Entire plans are due electronically at 3:00 PM EST on Thursday, June 1, 2017. Late Entries will be disqualified.
In addition to electronic submission, three hard copies must be delivered to our office by 5pm on Thursday, June 1, 2017 or post-marked no later than Thursday, June 1. Hard copies may be mailed or delivered to Maryland Women's Business Center, 51 Monroe Street, Plaza East 20, Rockville, MD 20850. If delivering, copies must be in our hands by 5pm on Thursday, June 1.
Submission fee of $35 must be paid before the deadline of June 1, 2017 in order for your entry to be accepted.
No special format is required for the business plan, but it may not exceed 25 pages (excluding appendices), and it must contain the following:
Executive Summary - Limited to 2 Pages and Must Include:
- Name of business/trade name
- Legal structure of entity
- Percentage of women ownership
- Principal contact name, address (including city and state where business is located), phone, email, and website URL (if applicable).
Table of Contents
Description of the business (including location, long and short-term goals, products/services offered)
Market Analysis (including industry overview/description, competition, target market, competitive advantage)
Marketing Plan
Management and Operations Plan (including brief bios and job descriptions of key positions; hiring plan)
Financial Projections - must cover 3 years of projections including Income Statements (monthly for 1st year and quarterly for years 2 and 3) and Balance Sheets
Semifinalists must participate in a preparation session with an MWBC counselor prior to being scheduled for their oral presentation.
Semifinalists must agree to be available to present orally on August 16, 2017.
Finalists must agree to attend The Power Conference luncheon on September 7, 2017 to receive award.

If you have additional questions or need assistance, contact donna@marylandwbc.org or call us at 301-315-8091.