Microsite 2018 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!

Complete plans are due electronically along with three hard copies delivered to the MWBC office in Rockville no later than 3:00 PM EST Thursday, July 12, 2018. It is highly recommended that you do not wait until just prior to the 3 pm deadline to upload your plan in case of technical difficulties or delay. You may drop off the three hard copies to our office by 5:00 pm EST, Thursday, July 12 or send hard copies by postal mail. All mailed entries MUST be postmarked by Thursday, July 12, 2018.

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 the 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 the 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 will result in disqualification.

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

Rules

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, July 12, 2018. Late Entries will be disqualified.
In addition to the electronic submission, three hard copies must be delivered to MWBC's Rockville office by 5 PM EST Thursday, July 12, 2018, or postmarked no later than Thursday, July 12.

StartRight! Business Plan Entry, Maryland Women's Business Center, 51 Monroe Street, Plaza East 20, Rockville, MD 20850

A submission fee of $35 must be paid before the deadline of July 12, 2018, to enter the competition.
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 the 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 three years of projections including Income Statements (monthly for the 1st year and quarterly for years 2 and 3) and Balance Sheets

If you are selected as a semifinalist:

You must participate in a preparation session with an MWBC counselor before scheduling their oral presentation.
Agree to be available to present your business plan orally to judges Wednesday, October 3, 2018.

If you are selected as a finalist:

Attend the judges' thank you reception Tuesday, October 9, 2018.
Attend the MWBC Awards Luncheon Wednesday, October 17, 2018, where the StartRight! Winner will be announced!

*Note: In good standing with the State of Maryland means your business has legally registered with the State of Maryland and that you are current on business taxes. You can register at egov.maryland.gov/easy

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