IDEA Competition Accepting Applications September 1
Beginning September 1, the IDEA Competition will begin accepting applications for what will be its fourth year. Since the competition began, over $200,000 in funding has been awarded and ten of the winners have already brought their product to market.
Participants receive access to valuable tools and resources, the opportunity to refine their investor pitch, attention in the media, a chance to pitch their idea to qualified potential investors and leaders in the business community, and a chance to receive substantial funding for their venture, including individual cash awards of $10,000 each, for up to five winners.
2011 IDEA winners had this to say about the competition:
“No matter how well you might know your idea or your business plan, the IDEA competition process really helps you flush out all the little details that you may have overlooked. We really understood the value of the process from last year and that was one of the major reasons that we entered this year’s competition. It feels great to be a two time IDEA winner but it’s even better knowing that we have given our newest product the highest possible chance for success.”
Jason LaValley, LaValley Industries (Bemidji)
“Working through the stages of the IDEA competition was a great boost to the development of Craft Night Out. With each round of the competition we were able to focus our plans and gain valuable feedback from the judges. If we had not started this process our business plan would not be as complete and market ready as we are now. We are so excited to have won the cash award, but we are even more anxious to work with the experienced business professionals and to access the business development resources throughout the next year."
Kristine Goddard-Anderson, Craft Night Out (Thief River Falls)
“The IDEA competition has given us additional exposure to the market. Regardless of if we won or not, the experience of doing the business plan and thinking through the details got us on the right track. When we find ourselves getting too close to the product, it is helpful to get an outside perspective to question what we may be missing. The technical assistance is invaluable.”
Fred Hartmann, Turn@bout (Thief River Falls)
"Every business that starts should have to go through the business planning process that is required in the IDEA competition. The professional advice from the judging panel and additional technical assistance forces you to sharpen your skills to see the big picture and look at every detail. Not to mention, winning the $10,000 was a big help! The whole process is awesome!”
Jeff Sullivan, EquipAll GrappleHoe (Bemidji)
The deadline for entering is November 15. For more on IDEA, visit the website.
Participants receive access to valuable tools and resources, the opportunity to refine their investor pitch, attention in the media, a chance to pitch their idea to qualified potential investors and leaders in the business community, and a chance to receive substantial funding for their venture, including individual cash awards of $10,000 each, for up to five winners.
2011 IDEA winners had this to say about the competition:
“No matter how well you might know your idea or your business plan, the IDEA competition process really helps you flush out all the little details that you may have overlooked. We really understood the value of the process from last year and that was one of the major reasons that we entered this year’s competition. It feels great to be a two time IDEA winner but it’s even better knowing that we have given our newest product the highest possible chance for success.”
Jason LaValley, LaValley Industries (Bemidji)
“Working through the stages of the IDEA competition was a great boost to the development of Craft Night Out. With each round of the competition we were able to focus our plans and gain valuable feedback from the judges. If we had not started this process our business plan would not be as complete and market ready as we are now. We are so excited to have won the cash award, but we are even more anxious to work with the experienced business professionals and to access the business development resources throughout the next year."
Kristine Goddard-Anderson, Craft Night Out (Thief River Falls)
“The IDEA competition has given us additional exposure to the market. Regardless of if we won or not, the experience of doing the business plan and thinking through the details got us on the right track. When we find ourselves getting too close to the product, it is helpful to get an outside perspective to question what we may be missing. The technical assistance is invaluable.”
Fred Hartmann, Turn@bout (Thief River Falls)
"Every business that starts should have to go through the business planning process that is required in the IDEA competition. The professional advice from the judging panel and additional technical assistance forces you to sharpen your skills to see the big picture and look at every detail. Not to mention, winning the $10,000 was a big help! The whole process is awesome!”
Jeff Sullivan, EquipAll GrappleHoe (Bemidji)
The deadline for entering is November 15. For more on IDEA, visit the website.
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