$200,000 to be Awarded in Prizes at 2015 RI Business Plan Competition

$200,000 to be Awarded in Prizes at 2015 RI Business Plan Competition

The Rhode Island Business Plan Competition announced Monday that winners will be awarded prizes valued at $200,000 when named in May. The competition is the largest publicly supported business plan competition in New England and is one of the top 40 business plan competitions in the country.  To date, it has awarded more than $1.6 million in prizes to competitors emerging companies across many industries.

The announcement was made in advance of the March 30 deadline to apply to the competition.

The prizes—cash and in-kind services—are provided by 56 sponsors, representing a broad cross-section of Rhode Island organizations. Included are 11 banks and investors, seven colleges and universities, and a cross-section of advisory, construction, insurance, health-related, software, retail, professional services firms, and other businesses. ShapeUp, a former winner of the Rhode Island Business Plan Competition, now a thriving Providence-based company, will be a sponsor.

GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST

Commitment To The Next Generation

Competition Co-Chair Anthony Mangiarelli, partner with the KLR accounting firm, said, “By supporting the competition, the Rhode Island business community demonstrates a strong commitment to nurturing the next generation of local growth companies. On behalf of everyone competing this year, I extend a heartfelt thanks.”

Co-chair Peggy Farrell, partner in the law of firm of Hinckley, Allen, acknowledged the Competition’s Development Committee led by Richard Carriere, senior vice president at Morgan Stanley Wealth Management, which secured the sponsorships: “The members of our development team are the unsung heroes. They have been working since last summer to make this year’s competition another success.”

Serving on the committee were: Larry Davidson, principal, KLR; Sergio Ferreira, Startup Weekend Providence; Katharine Flynn, executive director, URI Business Engagement Center; Andrew Hughes, partner, Locke Lord; Ray Mathieu, board director, trustee, and private investor; Shawn Scott, strategy and brand architect, Focus Vision Media; Jennifer Schwall, executive director, Cherrystone Angel Group; Rick Wilkins, consultant; as well as Farrell and Mangiarelli.

Winners of the 2015 competition will be announced at a public event in May.

The competition is open to anyone with an innovative business plan. All applicants must be at least 18 years of age and must agree to use winnings to establish or expand a business in Rhode Island. Complete competition information, including rules, application procedures, guidelines, and business plan resources, is available at www.ri-bizplan.com.