A business plan competition is a rich component of a regional economic ecosystem and adds capability to your application to become a regional innovation cluster.  As with a regional incubation or acceleration program, the competition fulfills many of the requirements of grant and contract requests for proposal.  Establishing a competition that brings small businesses together with established resources, such as serial entrepreneurs and funders, is part of the preparation -- the tilling of the soil -- that agencies and foundations will want to see as evidence that your cluster is prepared to provide business with the foundations they will need to penetrate and serve their target markets.

Barich Alexander's parent, Barich Business Services, and our many regional partners -- from businesses to universities to consultants -- established the Monterey Bay Regional Business Plan Competition in 2009. The competition and supporting workshops are designed to:

• Create jobs in the region

• Connect entrepreneurs with business-development resources, such as serial   entrepreneurs, funders, consultants, IP attorneys and more

• Attract businesses and investors to the region

• Support the success of regional start-ups

• Create regional interest in entrepreneurship

• Link local entrepreneurs to local investors

• Link local and regional resources with one another

• Encourage business students to become entrepreneurs

• Promote tech transfer, innovation and commercialization

This competition also affords regional start-ups and emerging companies the chance to showcase their ideas and business concepts to regional and local angels and venture capitalists.  This competition has been designed as a tool to strengthen our regional start-ups and emerging businesses by providing entrepreneurs with the best business foundation possible.

More videos and information are available at http://www.MBRCompetition.com.  We can help you establish your own competition as an essential element of your business ecosystem.