MADISON — Nearly 80 judges have volunteered so far to judge entries and provide feedback in the 2021 Governor’s Business Plan contest, which includes a cross-section of disciplines that help define Wisconsin’s startup culture.
This year’s judging pool will also feature a strong representation from early-stage investors. The list includes many investors from some of the Upper Midwest’s most active groups, such as: Wisconsin Investment Partners, Golden Angels Investors, Capital Midwest, Venture Management, Inventure Capital, N29 Capital Partners, Bascom Ventures, 30Ventures, NEW Capital Management, Rock River Capital Partners and NVNG Ventures.
Contestants have until 5 p.m. Jan. 31 to enter their 250-word business ideas at govsbizplancontest.com.
Other major categories of judges include veteran entrepreneurs; advisors from accelerators and incubators; executives in larger businesses that often do business with startups and emerging companies; professionals from financial institutions, such as banks and credit unions; and experienced service providers working in the trenches with startups on a daily basis.
The list also includes judges with a background in higher education or research and development, often serving as direct points of contact for entrepreneurial programs on their respective campuses.
Judges provide feedback to contestants throughout the contest’s four phases. A separate group of contest mentors includes experts from the UW-Extension’s Center for Technology Commercialization and SCORE. Mentors are available for questions from contestants throughout the contest.
“This talented cross-section of judges and mentors allows for a thorough review of contest entries — as well as valuable feedback to contestants from people who know their way around technology, investing and business,” said Tom Still, president of the Wisconsin Technology Council. The Tech Council is producing the 18th annual contest.
Designed to encourage entrepreneurs in the startup stage of tech-bases businesses in Wisconsin, the contest leads to valuable public and media exposure for the top business plans and helps spur economic growth in the state. Once again, finalists will share in about $125,000 in cash and in-kind prizes.
Since the contest’s inception in 2004, more than 4,100 entries have been received from 323 communities across Wisconsin. Finalists have shared in more than $2.4 million in cash and service prizes (such as legal, accounting, office space and marketing).
About 77% of the finalists from 2012-2019 are still in business.
Past finalists have launched companies that have raised $220 million in grants, loans and private equity financing — all while creating jobs and economic value for Wisconsin.
Entries due Jan. 31
MADISON — Looking for a self-directed project this semester that can lead to prizes, mentoring and live connections to the business world? The 18th annual Wisconsin Governor’s Business Plan Contest will accept entries online for the 2021 competition until 5 p.m. Jan. 31.
The contest is designed to encourage entrepreneurs in the startup stage of tech-enabled businesses in Wisconsin. It links up-and-coming entrepreneurs with a statewide network of community resources, expert advice, management talent and possible sources of capital.
It also leads to valuable public and media exposure for the top business plans and helps spur economic growth in the state. Plans submitted by students or recent graduates in the past have included BadgerBites, which is known today as EatStreet; Hyde Sportswear; NovoMoto; Pyran; NanoRed and many more.
Finalists will share in more than $125,000 in cash and service prizes. There is no cost to enter.
For their initial entries, contestants will submit a 250-word (or 2,000-character) idea abstract online at govsbizplancontest.com. That’s where contestants will also find business plan templates and other information, such as the Entrepreneurs’ Toolkit. The toolkit provides business startup information and assistance, networking contacts and technical resources.
Contestants who advance to subsequent contest rounds will expand their plan in stages. About 90 judges drawn from the finance, sales, marketing, research and technology sectors across Wisconsin will score the entries and provide feedback on submissions.
To get started, contestants will need to create a simple account at govsbizplancontest.com. All entries are submitted through the website. Contestants use their account to gain access to mentors throughout the process, as well as review the judges’ comments and feedback.
Since its inception in 2004, more than 4,100 entries have been received and about $2.4 million in cash and services (such as legal, accounting, office space and marketing) have been awarded. Contest categories are Advanced Manufacturing, Business Services, Information Technology and Life Sciences. About 77% of the finalists from 2012-2019 are still in business.
Wisconsin residents 18 years old and older are eligible, as are teams from Wisconsin-based businesses and organizations. Businesses or teams from outside the state are also eligible to compete if they demonstrate intent to base their business in Wisconsin. Entrepreneurs may also enter multiple ideas, though each idea must be separate and distinct.
Companies or individuals that have not received angel or venture capital in the current form are eligible to enter.
As with past contests, the 2021 competition will take place in stages ending at the Wisconsin Entrepreneurs’ Conference in June.