Competition could net business $20K
WILMINGTON- Starting May 24, Wilmington Works is kicking off a business plan competition: “Make it on Main Street: The Wilmington Downtown Business Challenge.”
The competition invites entrepreneurs to submit their idea for a brick and mortar business between Thursday, May 24, and Sunday, July 15. Up to five contestants will be selected as semifinalists, assigned a business development mentor, and asked to produce a full business plan by October 1. Following a final oral presentation on October 18, one lucky winner will be granted the $20,000 cash prize, with the stipulation that the winning business must then open in Wilmington’s downtown within a year of the award.
The idea for the business competition was born when longtime second-home owner and Dan Patrick Show producer Paul Pabst had some Sports Jeopardy prize money to donate to a cause. The effort soon became a collaborative affair, with Wilmington Works adding some of their own funds, along with sponsorship from myriad local businesses and organizations including Brattleboro Savings and Loan, the town of Wilmington’s event fund, Brattleboro Development Credit Corporation, The Deerfield Valley News, the Southern Vermont Deerfield Valley Chamber of Commerce, and The Richards Group.
The competition is open to all comers, but to score high, potential businesses must consider how their idea will serve the entire community: locals, second-home owners, and seasonal tourists alike. The “Make it on Main Street” competition is not looking for just any business, but one which will add to the heart and soul of the town.
A kick-off event is scheduled for Thursday May 24, at Wilmington’s Historic Memorial Hall. Following a press announcement at 4:30 pm, prospective applicants are invited to network with other local business people and town officials before joining an “Idea Jam” for potential entrepreneurs hosted by the BDCC’s Instig8 program at 6 pm. Interested parties are invited to read the full rules and learn more about the project at www.wilmingtonworksvt.com.
For more details or to ask questions call Meg Staloff at (802) 234-1433 or email firstname.lastname@example.org.