Mason County
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Situated along the shores of Lake Michigan, Mason County
offers an ideal place to live, work, and play. Mason County is home to green
energy, manufacturing, agribusiness, and tourism. Mason County provides the
environment for businesses to grow.
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Ludington & Scottville Area Chamber of Commerce
5300 US 10, Ludington MI 49431 |
Momentum
The Momentum Business Plan Competition came about as a collaborative effort including Pennies From Heaven, West Shore Bank, Western Land Services, Ludington Daily News, The Ludington & Scottville Area Chamber of Commerce, and Metalworks. Prize money is provided by supporting sponsors and organizations who share a passion for entrepreneurism and for the Mason County community.
Mission
To assist business formation in Mason County, Michigan by providing financial resources and mentoring to expedite the startup phase and increase the likelihood of success.
The Competition
The Momentum Business Plan Competition is administered by The Ludington & Scottville Area Chamber of Commerce. The competition is only open to legal residents of the U.S. and the District of Columbia and who are residing therein, and who are age 18 and older as of the time of entry. Upon winning and accepting the Momentum Business Plan Competition, the entrant agrees to locate or relocate business operations within Mason County, Michigan and continue operations in Mason County for a minimum of three years from the date of the award.
The prize money of $50,000 could be disperse amongst all Top 5 finalists, or to just one finalist.
The prize money of $50,000 could be disperse amongst all Top 5 finalists, or to just one finalist.
Entrance Requirements
The Momentum Business Plan Competition is open to any eligible independent business venture, either for-profit or non-profit, with a viable business idea, business plan, invention to be marketed, or existing organization or company with under $250,000 in sales or revenue annually.
Judges
The Board of Directors will serve as judges and may appoint or remove judges at its sole discretion.
Templates
The Business Outline template is required along with your business plan and financials. If you do not have current financials then use the S4 Financial Projections (.xlsx), as a starting template. If you need a starting point or what components make a business plan use the SBA fromat down below.
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Rules
Click below to download the Momentum Business Plan Competition rules. (.pdf)
| official_momentum_rules_2019.pdf |
Judging Criteria
Business plans will be judged on the following criteria. Those with the highest scores will advance as finalists.
• Use of market research data
• Passionate and enthusiastic presentation of idea
• Scalability
• Clear Statement of assumptions
• Clear and logical business plan for a launch or expansion with measurable objectives for each stage
• Demonstration of competitive advantage
• Indication of how prize money will be used
• Use of market research data
• Passionate and enthusiastic presentation of idea
• Scalability
• Clear Statement of assumptions
• Clear and logical business plan for a launch or expansion with measurable objectives for each stage
• Demonstration of competitive advantage
• Indication of how prize money will be used
Affidavit and Release
As a condition of becoming a top five finalist, a contestant may be required to execute and deliver to the Chamber a signed Affidavit of Eligibility, which includes an acceptance of Official Rules and a release of liability.
Confidentiality
The Momentum Business Plan Competition will keep the
identities and details of the business plans confidential until the top five
entries have been notified. Upon notification of becoming a finalist, the
entrant will agree to allow The Momentum Business Plan Competition to release
identities and certain elements of the business plan from confidentiality for
the purpose of promoting the competition as well as the competitors. Details
will be discussed with each of the five finalists so that competitive advantage
and intellectual property concerns are respected.
