Friday, February 13, 2009

EDC Launches eMerging Ventures Challenge, offers $15,000 to Winner

The Greater Owensboro Economic Development Corp. is launching a $15,000 competition today to hopefully create jobs by summer. The Emerging Ventures Center for Innovation and the Emerging Ventures Seed Fund are sponsoring the first eMerging Ventures Business Challenge to entice entrepreneurs to start and expand businesses in Owensboro. The winning business plan also gets a six-month lease on office space at the Centre for Business and Research, which is being developed in an old tobacco warehouse at 1016 Allen St.

The local business plan competition is for start-up companies or expansions of existing businesses with high growth potential. High-growth potential is defined as a business that will create five or more jobs and more than $1 million in revenue within two to three years, with the potential to attract debt or equity financing.

The businesses must be located -- or willing to locate a significant business presence -- within Daviess County. Applications that don't meet the residency requirements will be rejected.

The competition takes place in two rounds.
The first round requires a Business Concept Launch application of no more than five pages to be submitted by March 13. Four finalists will be selected on March 20 by a team of judges.
They will submit comprehensive business plans of up to 30 pages and orally present their plans to the judges on April 17. The winner will be announced on April 20.

The winner will receive $15,000 in seed money, a six-month lease and free mentoring and confidential counseling services to ensure success.

The $50 application fee will be waived if applicants attend business plan development, IP protection and financing workshops scheduled for Feb. 24 and 26.

To register for the workshops call 926-4339 or 663-1050. Information is available at

Applications can be mailed to Madison Silvert, Director, Emerging Ventures Center for Innovation, 200 East Third Street, Suite 301, Owensboro, KY 42303 or to

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