Entrepreneurs Advance to Semi-Finals in $100,000 Business Plan Competition, Local Leaders to Select Winners
Contact:
Nancy Schnoebelen
Vice President Marketing & Communications
314.615.7617, nschnoebelen@slcec.com
St. Louis, MO, March 24, 2010 -- Thirty innovative entrepreneurs have earned a chance to compete in the semi-final round of the 2010 St. Louis Regional Business Plan Competition presented by St. Louis County Economic Council and sponsored by Edward Jones. Judges provided by Innovate Venture Mentoring Service and the Service Core of Retired Executives evaluated 226 applications, advancing the top applicants to the next stage of the competition.
"This was a tough job. We received a number of high-caliber applications with innovative ideas and concepts ranging anywhere from culinary to wellness, technology to life sciences. Each application was reviewed and scored independently by three judges and then averaged for a final score," said Richard Palank, senior vice president of St. Louis County Economic Council.
In the semi-finals, entrepreneurs submit their entire business plan, which will be judged based on each plan's innovation, feasibility, funding, growth potential, quality of product or service, adaptation to change, strength of management team, and internal organization. Judges from Innovate VMS will independently score each plan and then average each for a final score. A list of the 30 semi-finalists can be found on www.slcec.com.
Six plans will qualify for the final round, where entrepreneurs will make a presentation to five finalist judges made up of local business leaders including St Louis Small Business Monthly Publisher Ron Ameln, Talisen Technologies President George Brill, Capital for Business Managing Partner Steve Broun, Rubin Brown Chairman Jim Castellano, and Regions Bank Area President, Upper Midwest Sally Roth.
"We are very pleased that so many strong entrepreneurial ideas have originated in the St. Louis region, and wish all who entered the contest success in their ventures. We also are honored to have such an esteemed panel of finalist judges who have volunteered their time and expertise to select the region's top three business plans," said St. Louis County Executive Charlie A. Dooley.
First, second and third place winners will be announced June 1, 2010 and awarded $50,000, $30,000 and $20,000 respectively. In addition, in-kind professional mentoring, marketing, legal, and accounting services will be presented to each winner.
About St. Louis County Economic Council
Founded in 1984, St. Louis County Economic Council serves as the county's economic development agency, driving growth and prosperity in the most economically important county in Missouri. As the only economic development agency in the state to hold the esteemed Accredited Economic Development Organization from the International Economic Development Council, it provides a broad range of services through its six divisions: business development, business finance, economic development collaborative, real estate and community development, St. Louis Enterprise Centers, and World Trade Center Saint Louis.
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