Entrepreneurship is the cornerstone of sustainable economic growth within a community and the best way to minimize the impact of ripples caused by economic fluctuations. Innovation is the driving force of the entrepreneur. Taylor University and the Innovative Network of Grant County host an annual competition designed to encourage, identify, and assist local entrepreneurs with the most innovative and commercially viable business concepts.
The purposes of the Business Plan Competition are:
- To encourage area entrepreneurs through cash prizes, planning support, and networking opportunities
- To increase awareness among area investors of community-based innovators
- To Identify local entrepreneurs who might benefit from business incubation services
- To help local businesses grow, thereby impacting local job availability and tax base
Business concepts from past winners include software for higher education (www.rgrade.com/), a fully automated truck wash, new prosthetic foot design, training for DSLR camera users (www.indyphotocoach.com), and insurance certification (www.mycoionline.com).
In addition to cash prizes, the Grant County Economic Growth Council offers forgivable loan incentives for companies locating in Grant County. This results in total prize packages valued at $22,000, $13,000 and $8,000 for first, second, and third place, respectively.