Impact Business Plan Competition
Date To Be Determined
Eligibility Requirements:
The Impact Business Plan Competition is meant to benefit women owned businesses (51% owned and managed by a woman). The awards are made possible by a generous grant from Citi Bank and additional support from Independence Blue Cross. We will award $2,500 to the first place business and $1,000 to a second place business. The winner will also receive free business services that are valued at $1,500 that will help them get to the next level. To enter the competition you must be a for-profit woman owned company and meet all of the following guidelines:
- Must be 18 years of age or older and a resident of Philadelphia (including surrounding counties), New Jersey or Delaware with a working email address
- Have completed the WORC training program (Start Smart or SET) or equivalent business plan training course with one of the participating partners or agree to complete the WORC training program prior to receiving the award funds
- Demonstrate financial need for the award funds and show how they will advance the business
- Business must show legal registration and required licensing in the State of Pennsylvania, New Jersey or Delaware prior to receiving award funds
- Business must have or established bank account that is held under the business name
*Please Note: Award funds will be distributed by check to the business name once all eligibility requirements are confirmed. All funds must be used to advance the business, personal use is not allowed.
Entry:
To enter the business plan competition you need to submit:
- Complete the application online AND mail in a completed business plan to: WORC, Impact 2010 Chestnut Street, Philadelphia, PA 19103 (all questions must be answered and documents signed; Incomplete applications will not be considered)
- Submit a typed, bound copy of the business plan that includes all of the sections listed in the outline
Judging Criteria:
We are looking for businesses that can show:
- A strong social or community impact as a part of the regular operations or culture of the business
- A business concept that has a clearly identified customer base and has proven their willingness to buy the products or services
- A business plan that clearly communicates how the business will work (operations & marketing) and how the business will make money and provide a living return (sales & financials)
Timeline: Dates to be determined
* All notification related to the competition will happen via e-mail. Applicants should make sure the have a valid email address and check the account regularly in accordance with the timelines.
