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Rhode Island Business Plan Competition 2018

Grants to Rhode Island Entrepreneurs and Students
for New Businesses and Early Stage Companies

Agency Type:

Foundation / Corporation

Funding Source:

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Rhode Island Business Plan Competition

Deadline Date:

04/02/18 5:00 PM ET

Description:

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Grants to Rhode Island individual entrepreneurs, undergraduates, and graduate students for new business and early-stage company plans. Funding is intended to create and foster new companies throughout the State that will increase local employment. There are no preferences for the type of industry. The competition has received applications for manufacturing, distribution, health, software, Internet, energy, food, services, and other industries.

There are three tracks available for this grant:
- Entrepreneur track - Open to any entrepreneur or would-be entrepreneur, 18 years of age or older.
- Student track - Open to any student, 18 years of age or older, enrolled in and attending an accredited college or university at the undergraduate or graduate level. All key members of the team must be students.
- MedTech award - Open to anyone, 18 years of age or older, to recognize an existing or proposed company focused on medical technology or the life sciences.

An early stage, or seed stage, company typically is at the inventor stage where there is an idea, a concept, or even a product, but little or no income has been generated yet.

Entrants will be evaluated on their vision, business model, value proposition and competitive differentiation, growth strategy, and technology. The judges focus on originality, scalability, and likelihood of success when winnowing down applicants. Scalability refers to the breadth of business.

GrantWatch ID#:

GrantWatch ID#: 178886

Estimated Total Program Funding:

$200,000

Number of Grants:

3 (Entrepreneur track, Student track, and MedTech Award)

Estimated Size of Grant:

Prizes consisting of cash and in-kind services, with a total value of approximately $200,000, will be awarded to winners and finalists.

Also, everyone who submits a completed application to the 2018 Competition will receive two consecutive months of free co-working space for their team at Sprout in the Rising Sun Mills campus in Providence. Free parking and access to meeting space is included.

Additional Eligibility Criteria:

Applicants, 18 years of age or older, may compete in one of the following tracks:

- Entrepreneur track — Open to any entrepreneur or would-be entrepreneur, 18 years of age or older.
- Student track — Open to any student, 18 years of age or older, enrolled in and attending an accredited college or university at the undergraduate or graduate level. All key members of the team must be students.
-Medical Technology Award — Applicants must be 18 years of age or older and apply with an existing or proposed company focused on medical technology or the life sciences.

- There is no limit on the number of people on a team.
- Any area of commercial endeavor is valid.
- All applications must be the original work of those making the submission.
- Applications must describe a new business or an early stage company.
- Existing businesses may propose a new business that would have operations in Rhode Island.
- Applicants risk disqualification if they attempt to approach a judge, or have someone do that on their behalf, in connection with the competition.

Applicants do not have to be Rhode Island resident to participate, however, all applicants must agree to establish substantial operations in Rhode Island in order to receive prizes as a finalist or winner.

Pre-Application Information:

Rules, Eligibility, and Prizes:
http://www.ri-bizplan.com/RulesPrizes/RulesEligibilityPrizes.aspx

Information on Competition Tracks:
http://www.ri-bizplan.com/About/Tracks.aspx

How to apply:
http://www.ri-bizplan.com/Application/HowtoApply.aspx

Judging Criteria:
http://www.ri-bizplan.com/RulesPrizes/JudgingCriteriaJudges.aspx

FAQs:
http://www.ri-bizplan.com/About/FAQs.aspx

3-Minute Video:
https://melonem.wistia.com/medias/bbdf7jcggd

Timeline:

- April 2, 2018: Applications due by 5:00 PM ET
- April 17, 2018: Semi-finalists notified
- April 25, 2018: Semi-finalists make 5-minute presentation to judges
- May 2, 2018: Finalists are invited to a 25-minute meeting with the judges.
- May 2018: Awards Ceremony where all finalists present and winners are announced.

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Register and apply online:
http://www.ri-bizplan.com/Application/Login.aspx

Email questions to: info@ri-bizplan.com

Send mail inquiries to:

Rhode Island Business Plan Competition
c/o Business Development Company
40 Westminster St., Ste. 702
Providence, RI 02903

URL for Full Text (RFP):

Geographic Focus:

USA: Rhode Island