Startup Moorhead

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Business Plan Competition

The Economic Development Authority is committed to creating programs that support Moorhead’s entrepreneurial community, and is proud to announce the launch of Startup Moorhead!

Startup Moorhead is a business plan competition aimed at cultivating growth in our business community by putting capital in the hands of our local entrepreneurs when it is needed most. Startup Moorhead is open to all businesses in any industry looking to start or relocate to Moorhead by the end of 2018.

Business plans should be submitted to Moorhead EDA office by 4:30 pm on December 1, 2017. The top three submissions will be invited to present their business idea at the Startup Moorhead Banquet at MSUM, where the winner will be determined and prizes will be awarded. Grand prize is $5,000 of startup capital. The runner up receives $1,000 and the honorable mention receives $500.

This program is launched in partnership with MSUM and the SBDC.

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EVALUATION

An independent panel of MSUM faculty will evaluate business plan submissions based on the following scoring criteria:

Executive Summary - 5 points
Business Description - 10 points
Timeline - 10 points
Market Analysis - 15 points
Marketing Plan - 15 points
Management Plan - 15 points
Financial Plan and Projections - 20 points
Resume of Owner - 5 points
SBDC Certificate of Engagement - 5 points

ASSISTANCE

If you need help with any part of your business plan, the Minnesota Small Business Development Center (MnSBDC) can provide one-on-one coaching at no cost to you. MnSBDC is offering the following workshops:

• Business Planning and Start-up - September 21, 2017
• Financing your Business - October 5, 2017
• Product Planning/Products, Pricing & Profits - October 19, 2017
• Marketing your Business - November 2, 2017

Each of the workshops will be 5:00 pm - 7:30 pm. Those who attend a workshop or receive coaching can request a Certificate of Engagement to submit with their Startup Moorhead application for points. Individual registration required. For more information contact the MnSBDC at 218.299.3037 or sbdc@cord.edu