Tuesday, 09 January 2018 10:44

Deadline Extended for $50,000 ‘Next Great Idea’ Business Plan Competition

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Matthew Vacanti of Arco Art, past winner of the Next Great Idea Oswego County Business Plan Competition pictured with his product, custom designed fabric covers for musical string instruments. Matthew Vacanti of Arco Art, past winner of the Next Great Idea Oswego County Business Plan Competition pictured with his product, custom designed fabric covers for musical string instruments. Submitted photo

The Next Great Idea Oswego County Business Plan Competition” (NGI) has extended its deadline for entries to March 1st 2018, a month past the original deadline.

The business plan competition is open to all entrepreneurs with a new business concept and existing businesses looking to add a new product or service.

Examples of eligible businesses include restaurants, stores, tech based businesses, and businesses manufacturing a product as long as the proposed business will be based in Oswego County.

Participation in the competition is $25 per entry and there is free business plan assistance from the Small Business Development Center that operates out of the Business Resource Center in Oswego, NY.

The first place winner will be announced in September 2018 and receive $50,000 towards implementing their business plan. All participants will receive written feedback from the panel of judges on how to improve their business proposal.

“We’ve designed the NGI program in a way to benefit all the participants involved, not just the ultimate winner of the competition,” Austin Wheelock, Deputy Director of Operation Oswego County and NGI Chairperson, said. “If we have one $50,000 prize winner come out of this, plus several bankable, feasible business plans with confident entrepreneurs then everyone wins, especially Oswego County.” 

Past winners of the Next Great Idea competition include Arco Art, Lakeside Artisans, and Ocean Blue Technology.

The competition web site, http://www.oswegocounty.org/NGI/index.htm, includes an overview of the event, a competition timeline, application guidelines, sponsors, and contact information.

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