Both business plan competitions are overseen by America’s Small Business Development Center at UT Permian Basin (SBDC). They are designed to assist entrepreneurs in expanding an existing business or starting a new one.

Each participant will gain a better understanding of how to develop and follow a realistic business plan and model for a growing business. This undoubtedly will have a positive economic impact for each respective city.

By attending the mandatory orientation, entrepreneurs and business owners who are interested in applying will better understand the requirements of the competition. Participants will be able to attend multiple seminars providing vital information and guidance to assist them in developing a fact sheet as well as a full business plan, which will be submitted as part of the competition.

Once qualified, all entrants will have access to one-on-one business coaching, expertise and other pertinent resources offered at the SBDC. These meetings will discuss strategy, assist with building financials and finalize business plans before they are submitted.

For additional information, please contact Maggie Walker at 432-552-3463.

2017 Midland Entrepreneurial Challenge Winners

CYA Flowers $63,000

Mode Media $75,000

Eccentric Brewery $ 72,000

Norman Elite $40,000

 

Midland Entrepreneurial Challenge received $250,000 in funds from the Midland Development Corporation and together they awarded four businesses on October 16th 2017! The annual competition will start again in May and will award $350,000.