Impact Business Plan Competition
Eligibility Requirements:
The Impact Business Plan Competition is meant to benefit women owned businesses (51% owned and managed by a woman). To enter the competition you must be a woman owned company and meet all of the following guidelines:
- Must be 18 years of age or older and a resident of Philadelphia or surrounding counties with a working email address
- Have completed the WORC training program (Start Smart or SET) or equivalent business plan training course with one of the participating partners or agree to complete the WORC training program prior to receiving the award funds
- Demonstrate financial need for the award funds and show how they will advance the business
- Business must show legally registration and required licensing in the State of Pennsylvania prior to receiving award funds
- Business must have a established bank account that is held under the business name
* Please Note: Award funds will be distributed by check to the business name once all eligibility requirements are confirmed. All funds must be used to advance the business, personal use is not allowed.
Entry:
To enter the business plan competition you need to submit:
- Complete the application online or download and mail in the completed application to: WORC, Impact 2010 Chestnut Street, Philadelphia, PA 19103 (all questions must be answered and documents signed. Incomplete applications will not be considered)
- Submit a typed, bound copy of the business plan that includes all of the sections listed in the outline
Judging Criteria:
We are looking for businesses that can show:
- A strong social or community impact as a part of the regular operations or culture of the business
- A business concept that has a clearly identified customer base and has proven their willingness to buy the products or services
- A business plan that clearly communicates how the business will work (operations & marketing) and how the business will make money and provide a living return (sales & financials)
Timeline:
Applications Due: March 31st, 2010 at 5pm
Business Plans Due: April 6th, 2010
Finalist Notification: April 12th, 2010
Finalist Presentations: April 20th, 2010
Awards Ceremony: April 24th, 2010
* All notification related to the competition will happen via e-mail. Applicants should make sure the have a valid email address and check the account regularly in accordance with the timelines.