August 28, 2023
Entrepreneurs invited to Southern Illinois 2023 Business Plan Competition at SIU
CARBONDALE, IL — If you're thinking of starting your own business, here's your chance to make your business idea a reality. Southern Illinoisans can win cash prizes and valuable development services to help make their business ideas a reality with the Southern Illinois 2023 Business Plan Competition, thanks to Regions Bank and Southern Illinois University Carbondale.
“We believe the Business Plan Competition provides a great platform for local entrepreneurs to shine,” said Melissa Ray Roach, director of the SIU Illinois Small Business Development Center. “As well as celebrating innovation and creativity with real cash prizes, we also provide a supportive environment to learn, grow and connect. This competition is more than just a chance to win. Refine your ideas and receive valuable feedback. , is an opportunity to build a strong foundation for success. We are here to foster entrepreneurship and bring positive change to our region.”
We welcome new or expanding business concepts
Entrepreneurs with new business concepts or pre-startup plans, as well as start-ups and established commercial small businesses focused on innovative ideas, products and services, are welcome to participate. The deadline for registration is September 10th at 11:59pm.
SIU's Illinois Small Business Development Center and Business Incubator Program provide business planning assistance to competitors.
Contestants must reside in one or more of the southern Illinois counties: Alexander, Franklin, Gallatin, Hamilton, Hardin, Jackson, Jefferson, Johnson, Massac, Perry, Pope, Pulaski, Randolph, Saline, Union, White, Williamson.
Presentations will be made at the showcase
Winners will be announced during the SIU Research Park Innovation and Entrepreneurship Showcase on Nov. 30 at the Dunn Richmond Economic Development Center, 1740 Innovation Drive in Carbondale, starting at 4:30 p.m. A panel of judges with diverse backgrounds will select winners based on written business plan, financials, pitch, target market identification and impact, market need, commercialization potential, business model, innovation and creativity, and presentation. To do.
“The announcement of the business plan competition winners will be a highlight of the showcase,” said Lynn Andersen Lindberg, executive director of the Office of Innovation and Economic Development and SIU Research Park. “We are very excited about the opportunity to work with Regions Bank to energize several emerging and expanding small businesses and celebrate the innovation happening throughout Southern Illinois.”
Who is it for?
Individuals or teams can enter. In order to win a share of the $20,000 cash prize and in-kind services, contestants will have to submit their comprehensive business plans, attend three workshops, and demonstrate their concepts convincingly in the coming weeks. must pitch in 90 seconds. Regional competitions will be held in Marion, Mount Vernon, Redbud and Carbondale the week of October 13th, and the regional finals will be held at DunnRichmond in Carbondale the week of November 13th.
Contestants must also comply with several other requirements.
- You may not affiliate with any government agency, nonprofit organization, public or private school, or university.
- No one may engage in marijuana, gambling, lobbying, or any activity prohibited by state or federal law.
- All contestants must register to become clients of the Illinois SBDC. This is free.
Find out all the details about the Business Plan Competition and register online.
SIU Research Park is hosting the competition in partnership with Regions Bank and SI Now. Other sponsors include SIU's Illinois SBDC, SIU Carbondale, First Southern Bank, Saline County Industrial Development Corporation, Regence Bank, Randolph County Economic Development Corporation, Jefferson County Development Corporation, Southern Illinois University Foundation, and EThOs Small Business Incubator in Marion. and coworking spaces. , Arthur Agency, Clear Wave Fiber and Legal Advocacy Headquarters.
