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San Angelo Business Plan Competition 2021

Opportunity for Texas Entrepreneurs in Eligible Locations to
Participate in a Competition to Develop or Expand their Business

Agency Type:

Foundation / Corporation

Funding Source:

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City of San Angelo Development Corporation (COSADC), ASU Norris-Vincent College of Business (NVCOB), and the ASU Small Business Development Center (SBDC)

Conf. Date:

06/24/21

Deadline Date:

08/02/21 5:00 PM CDT

Description:

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Opportunity for Texas entrepreneurs in eligible locations to participate in a competition to develop or expand their business. Applicants will develop business plans in order to compete for grants. In addition to the cash grant, entrepreneurs will also receive in-kind services that have been donated by local businesses. Businesses must be in San Angelo or its extraterritorial jurisdiction to be eligible for an award

GrantWatch ID#:

GrantWatch ID#: 196896

Estimated Size of Grant:

Competition officials may award up to a total of $70,000 in Cash Prizes:
- 1st Place - $40,000
- 2nd Place - $20,000
- 3rd Place - $10,000

In-Kind: In-kind services donated by local businesses will also be awarded and are worth thousands of dollars in total.

Additional Eligibility Criteria:

Any individual or a multi-person team (not exceed 4 individuals) is welcome to enter the competition as a contestant if they meet the following eligibility requirements. In phase I, contestants must submit the entry form and an original two-page business overview for the start or expansion of their business. If selected, contestants will move forward as semi-finalists and create a draft business plan in phase II.

Contestants must have a startup or existing business that is beyond the concept stage, is legally formed at the county level (ex. Assumed Name filing for sole proprietor, general partnerships) or at the state level (ex. LLC, Corp, S Corp, etc.) and incurring business costs at the time of entry in the competition. Contestants must also be committed to job creation and economic development in San Angelo. Businesses must be in San Angelo or its ETJ to be eligible for an award. Awards winners must keep their business in San Angelo for the period indicated in the grant agreement.

Pre-proposal Conference:

The SBDC also provides free workshops on various components required to develop a business plan. All workshops will be held at the Business Resource Center (BRC) Training Room located at 69 N. Chadbourne St. in San Angelo. Other SBDC workshop schedules and seminar registration information are available online.

Workshop Title:
- The Business Plan –Part I The Narrative: Thursday, June 17, 2021 3:00pm
- The Business Plan--Part II The Financials: Thursday, June 24, 2021 3:00pm

For registration links and more information, see:
https://www.angelo.edu/community/small-business-development-center/

Pre-Application Information:

Phase I: The Entry Form and two-page business overview are required as your initial entry into the business plan competition. Please view the form for additional details and instructions. Please complete the online form and upload your two-page business overview by August 2, 2021 at 5pm.

Phase II: Phase II is only open to contestants who have been notified by Competition Coordinators that they have been selected by the Phase I Judging Panel as a semi-finalist. To compete in Phase II of the competition, semi-finalist contestants must submit to the Competition Coordinators by delivery a completed draft business plan for evaluation by the Judging Panel. It is due Monday, October 11, 2021 at 5:00 pm CDT at the Business Resource Center. A nonrefundable entry fee of $50.00 is paid at this time. Checks should be payable to COSADC.

Phase III: Phase III is only open to contestants who have been notified by Competition Coordinators that they have been selected as a finalist. To compete in Phase III of the competition, each finalist must submit a final business plan to the Competition Coordinators and make an in-person presentation of their final business plan to the Judging Panel. Presentations will not be open to the public. Deliver by 11-8-2021 at 5:00 pm CDT.

One-on-one assistance in preparing a Business Overview and Business Plan is available by contacting the ASU Small Business Development Center. SBDC certified business advisors will work with contestants on developing their Business Overview and Business Plan. A student team from the ASU Norris-Vincent College of Business will assist the SBDC advisors.

A detailed calendar of events can be found at https://www.angelo.edu/live/files/22564-san-angelo-business-plan-competition-guidelinespdf#page=8.

Contact Information:

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

Submit business plan:
https://www.angelo.edu/live/forms/1868-1

Direct questions to:
ASU Small Business Development Center at 325-942-2098 or email sbdc@angelo.edu

The San Angelo Business Plan Competition 2021
c/o The Business Resource Center
69 N. Chadbourne St.
San Angelo, TX 76903

URL for Full Text (RFP):

Geographic Focus:

USA: Texas

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