Avon Lake Business Plan Competition

AVON LAKE BUSINESS PLAN COMPETITION & ENTREPRENEUR TRAINING

APPLICATION & COMPETITION OVERVIEW

The Avon Lake Community Improvement Corporation (CIC), in partnership with the Economic Community Development Institute (ECDI), is pleased to announce a small business education and Grant competition to be conducted from October 2015 – February 2016.

Up to $20,000 in Grants will be awarded to Finalists with the best Business Plans, including a First Place Grant up to $10,000 and Runner Up Grants up to $5,000. All participants will receive Business Model Canvas Training during the October 2015 Kick-off sessions and Finalists will be invited to participate in ECDI’s Small Enterprise Education Development training in January 2016.

ELIGIBILITY

Any for-profit small business or start-up located in Avon Lake -- or business committed to locating in Avon Lake, Ohio.

INTENDED USE OF FUNDS

Grant funds are intended to help start-up companies initiate business operations or to help existing businesses expand and grow.

APPLICATION PROCESS

Please follow the instructions below and submit your application by 5:00 PM on Friday, November 13, 2015. Please submit only the materials requested for the competition. 


1. Application Materials

• Applicant Information Form (see details at Avonlake.org)
• 500 word business pitch - write no more than 500 words summarizing your business idea/plan
• Business Model Canvas - This is a visual version of a business plan that allows for easy presentation of a business concept for entrepreneurs at all stages of business development. Applicants are encouraged to attend a short Kick-off and training session offered by ECDI in order to correctly develop their canvas.

Kick-off sessions will be held at the Avon Lake Library (Please attend 1 session)

• Tuesday, October 13, 2015 at 9:00 AM or
• Monday, October 19, 2015 at 7:00 PM

2. Submission

• Please email us to announce your intention to participate
• Submit all application materials and questions by email to: AvonlakeCIC@gmail.com

3. Selection Process

• The Avon Lake CIC and ECDI will review applications and select Finalists for the competition and SEED Training by early December 2015.

4. Finalist Competition

• Finalists will participate in a four-week training program through ECDI called SEED. Classes will meet for three hours on four dates in January 2016. Using the skills and knowledge acquired in the course and working with their business mentor, Finalists will put together a “Business Pitch” to compete for Grants to assist in opening or expanding their business in Avon Lake. Finalists will present their pitch to a panel of industry professionals and community stakeholders to determine Winners. Pitch competition will take place in February 2016 with Grants being awarded later that month.