Aspiring entrepreneurs have a little more time to get their entries ready for the fourth annual Monfort College of Business Entrepreneurial Challenge at the University of Northern Colorado. “We’ve extended the deadline for entries to Friday, November 30,” said David Thomas, assistant professor of management at the college.
This year’s event offers $50,000 in prize money. The first place prize is $25,000, second place will win $15,000 and the third place prize is $10,000.
The competition is open to Colorado-based start-up ventures. “By start-up venture, we mean anyone who has an idea for a new business based in Colorado is eligible. They must be have begun or be ready to begin business development, market research, and product development, but must not have received payment for the sale of product or services yet,” Thomas added.
Entry guidelines are available at www.mcb-echallenge.com.
Successful applicants will be selected and notified by Friday, Dec. 7 to participate as semi-finalists in the Preliminary Challenge where they will present their business concepts to a panel of experts. The Preliminary Challenge takes place on Wednesday, January 16, 2013 at the University of Northern Colorado Center at Centerra in Loveland.
Five finalists will be selected at the Preliminary Challenge to present their business plans in a “Shark Tank” format during the Monfort College of Business Entrepreneurial Challenge on Thursday, March 7 at the University Center on the campus of the University of Northern Colorado in Greeley. The event will be open to the public and the winners will be announced that night during the Bravo! Entrepreneur Awards, a Northern Colorado Business Report event sponsored by the Monfort College of Business.
“The prize money we’re awarding could go a long way to help an entrepreneur’s dream of launching a business come true,” Thomas concluded. “Most importantly, the advice entrants will receive from our panels of judges and entrepreneurial experts is invaluable.