Local entrepreneurial mentoring group announces 2017 business model competition

After conducting a very successful competition in early 2016, Richmond SCORE, in partnership with the Virginia Biotechnology Research Park, will launch its second Business Model Canvas Competition January 1st, 2017.

Richmond SCORE, a non-profit volunteer mentoring organization, is calling on Richmond area entrepreneurs that are start-ups, or have been in business for less than one year (and who haven’t won money or tangibles in a business competition in the same time frame) to apply as contestants. Non-profits are also encouraged to apply.

“Participants’ presentations will be evaluated by a distinguished panel of Richmond business community leaders” said Art Mattox, a SCORE Mentor and the competition spokesman. All contestants will submit a written analysis of their business idea by the end of February.  During March, the judges will select 6 Semifinalists and these 6 will present their business models on April 26, 2017. There, the judges will select 3 Finalists who will make their final presentation at Virginia Biotechnology Research Park on May 17. 2017

The first-place prize includes $5,000, plus one year of free office space at the Richmond Times-Dispatch building on East Franklin Street. Second place will be awarded $2,500 and third place, $1,000.

All contestants will be teamed with a SCORE Mentor who can guide them through the process and, if requested, will continue to provide support after the competition.

“The competition isn’t really as much about the money as it is giving a business or startup the boost it needs to get to the next level” said Mattox. “Win or lose, all contestants will receive valuable guidance on maximizing the potential of their businesses and an opportunity to forge a productive, long term mentoring relationship with one or more expert SCORE Mentors”.

In the past twelve months, Richmond SCORE has helped over 900 local entrepreneurs and supported the creation of over 400 new jobs.

Applicants may register for the competition online beginning Jan 3, 2017 (go to www.richmond.score.org). The number of contestants will be limited.

A $50 fee will be required at registration. Training sessions for participants are planned for early February.

To learn more about the SCOREcard competition or to submit an entry, visit the group’s website.