The Wisconsin Governor’s Business Plan Contest – the nation’s first statewide, tech-based business plan competition – is accepting entries online for the 2009 competition. Entries will be accepted now through 5 p.m. Jan. 31, 2009. The contest’s Grand Prize is worth $50,000 in cash and services.

For their initial entries, contestants will submit 250-word idea abstracts online at www.govsbizplancontest.com. Contestants who advance to subsequent contest rounds will have the opportunity to expand their plan or idea. More than 60 judges drawn from the finance, sales, marketing, research and specific technology sectors will score the entries and provide feedback.

Managed by the Wisconsin Technology Council, the contest sprang out of conversations with Gov. Jim Doyle shortly after he was first elected in 2002. Doyle had talked about the value of a statewide business plan contest during his campaign, and it meshed with similar plans underway within the Tech Council. The mission of the contest is to encourage entrepreneurs in the creation, start-up and early-growth stages of high-tech businesses in Wisconsin.

Since its inception in 2004, more than 1,300 entries have been received and nearly $850,000 in cash and in-kind prizes has been awarded. In 2008, 17 finalists won cash prizes.

According to results of a fall 2008 survey of 2004-2008 finalists, more than half of those who responded have received financing for their plan through a variety of sources including angel and venture capital; and 75 percent of those who responded reported the contest led to an increase in public exposure for the company.

Wisconsin residents 18 years old and older are eligible, as are teams from Wisconsin-based businesses and organizations. Businesses or teams from outside the state are also eligible to compete so long as they plan to base their business in Wisconsin. Entrepreneurs may enter multiple ideas, so long as each idea is separate and distinct.

Teams and individuals alike who have participated in the contest have found the process to be a rewarding one. (See our web site for information on past winners.)

“….The [GBPC] took us through a process of increasingly detailed planning, and the comments we received helped us focus even more. Our presentations sparked interest from venture capital, further refining the business plan,” said Daniel van der Weide of Optametra, the winner of the Information Technology category in the 2008 contest. “…Participation in the GBPC will help a young company raise capital in challenging times, and the advice, though free of charge, was priceless.”

“The GBPC was an exceptional opportunity to gain invaluable visibility,” said Jeff Williams, the winner of the Life Sciences category in 2008. “We were contacted by groups outside of the state because of the press associated with the contest.”

As with past contests, the 2009 competition will take place in three stages:

• In the “Business Concepts” phase, which is open until Jan. 31, 2009 at 5 p.m., the contest will accept IDEA Abstracts on the web site. IDEA abstracts are 250-word business concepts that will be graded on a scale of 1-10 (10 highest) by our judges. The top 50 IDEA Abstract presenters will be asked to write a Summary Business Plan.

• In the “Summary Business Plan” phase, which runs from Feb. 23 to March 12, 2009, the top 50 IDEA Abstract presenters, plus ties, post their 1,000-word summaries online for comments by the judges. Contestants may be encouraged to revise their plans based on judges’ comments. The top 20 plan summaries are selected for the final round.

• In the “Final Business Plan” phase, which runs from April 2 to April 27, 2009, the top 20 Summary Plan presenters, plus ties, prepare final plans for judging. Limited comments and mentoring continues. Judges will review the plans and pick three place winners in each category.

• The four category winners will present at the Wisconsin Entrepreneurs’ Conference, June 9-10 in Milwaukee; all prize winners will be announced there.

James Hamilton of Graphene Solutions, a nanotechnology company that featured a 17-year-old student on its scientific team, was the grand prize winner in the 2008 contest. The company has patent-pending technology that could transform electronics, optics and materials science. It was Graphene Solution’s first year in the contest.

To enter, become a judge or a sponsor, visit www.govsbizplancontest.com.

Sponsors of the 2008 contest were: Aberdean Consulting LLC; American Transmission Co.; API Software; Associated Bank; The Boldt Company; CG Schmidt Co.; EarthIT; Fitchburg Technology Campus; Foley & Lardner LLP; The Gialamas Company; J.P. Cullen & Sons; Johnson Block CPAs; Journal Interactive, the digital media division of Journal Communications, Inc.; Loughrin Accounting & Tax Service; Marshfield Clinic Applied Sciences; Madison Gas & Electric Co.; McAllen TEC Campus; Michael Best & Friedrich LLP; Midwest Airlines; Palo Alto Software, Inc.; Quarles & Brady LLP; Reinhart Boerner Van Deuren s.c.; Ruedebusch Development & Construction; Smith & Gesteland LLP; State of Wisconsin Investment Board; TDS Telecom; University Research Park; Wisconsin Department of Commerce; WisBusiness.com; Wisconsin Angel Network; Whyte Hirschboeck Dudek S.C.; and the Wisconsin Technology Council.

Jellyfish founders Mark Mcguire and Brian Wiegand raised 4.3 million dollars for there next startup alice.com. The funding round was led by DaneVest and Kegonsa. Kegonsa was an investor in Jellyfish which sold to Microsoft last year.

Official Press Release:

Best of luck Mark and Brian!

Eso wins the Wisconsin Elvator Pitch Olympics! Congratulations to Eso and all of the other contestants for their participation. I had the pleasure of attending the elevator pitch Olympics last year and I know that it is not for the weak of heart. Standing on stage in front of 100 people with a team of 8 or so Venture Captitalists listening to your every word. Read the full exerpt here:

State Journal Article

I tend to be the concerned citizen who votes for laws which take power away from the “man” and give it to the citizens. In the case of the paid sick leave mandate in Milwaukee I had to vote in favor of the “man”. Especially since the main “man” affected is the small business owner. For small businesses who rely on part time work to grow this vote only makes the decision to take on new employees more difficult leading to slower growth leading to less small businesses being built in the Milwaukee area. If we want to be a city which follows the same track as Detroit and relies and a handful of large businesses then yes we should vote yes on this issue. If we want to continue to support new small businesses in our area we should follow the MMAC’s stance and stand up to this.

MMAC files claim opposing sick leave mandate

If you live in Wisconsin and are looking for grant opportunities check out the Wisconsin Entrepreneurs Network Grant Resource guide:

http://www.wenportal.org/financing_grants/?Id=132

A group of experienced entrepreneurs and successful business executives is giving back to the Start Up Community. The group MERLIN mentors was established to give free mentoring services in the Madison area. It is really a top notch group of individuals that any entrepreneur would be lucky to work with.

From the Website:

The Madison Entrepreneur Resource, Learning and Innovation Network (MERLIN) is a Madison-based corp of volunteers who have masterfully started and managed new ventures. These mentors use their skills, experience and enthusiasm to guide emerging entrepreneurs in early stage ventures to boost the potential of business success.

MERLIN supports innovation and entrepreneurial activity throughout the Madison community by matching potential entrepreneurs with volunteer mentors — including UW faculty and alumni — from the corporate, entrepreneurial and communities.

MERLIN provides entrepreneurs information and guidance to launch, sustain and grow their venture, particularly in the areas of biotechnology, information technology, agriculture, medicine, food science and manufacturing.

To apply go to:

http://www.merlinmentors.org

The next Inventors and Entrepreneurs Forum of Greater Milwaukee (I&E Forum) is scheduled for Wednesday, October 8th. It’s A Double Header!!

How I Did It: A real, live success story.  Gary Zimmerman founded Creative Business Interiors Inc. in 1991 and has built it into a 70 employee leader in its industry. He will share his experiences in founding and growing his business as well as discuss some of his philosophies for success.

Creative Business Interiors won MMAC’s Future 50 Award three times, a prestigious award that recognizes fast-growth companies in the metro area.  Earlier this year Zimmerman received the Chairman’s Award from MMAC’s Council of Small Business Executives (COSBE) and is the immediate past chairman of COSBE’s Board of Director.  He is the current chairman of COSBE’s Executive Roundtable Program and serves on the Steering Committee of the CEOs of Growing Businesses.

AND, hear all about BizStarts Milwaukee, a brand new initiative designed to foster innovation and entrepreneurship in SE Wisconsin.  Learn how it can aid you in starting, growing and making your company more successful.  David Linz with the Wisconsin Entrepreneurs’ Network and Dan Steininger, co-director of the Successful Entrepreneur Investors angel network and vice president of BizStarts, will explain the many benefits of BizStarts and demonstrate the use of its newly launched website.

The meeting is FREE and open to the public.  Registration starts at 5:30 PM, the meeting at 5:45 PM, and is held at the Tommy G. Thompson Youth Center at State Fair Park (enter Gate 5, just south of I-94 on 84th Street).  Our usual introductions and networking will cap off the evening.

Feel free to contact us if you have any questions.

Below is the article from the Milwaukee Business Times:

BizStarts Milwaukee, a nonprofit entity dedicated to fostering and promoting entrepreneurship in southeastern Wisconsin, officially launched today.
The organization wants to help launch or accelerate 50 new businesses by the end of 2010, an effort that is needed because of the relatively low numbers of new businesses created in the Milwaukee area, said Dan Steininger, vice president of BizStarts.
“The brutal fact that confronts us is that Milwaukee is 45th in the nation in getting new businesses started and 47th in the nation in getting venture capital raised,” he said. “Most new jobs are created by new companies.”
As a nonprofit entity, BizStarts Milwaukee will focus on connecting entrepreneurs with the resources to launch and grow their companies. The organization will assist with business planning, connecting with early-stage investing and other issues that face startup companies.
The project has four major initiatives:
BizStarts Connect - An online network, featured at www.bizstartsmilwaukee.com, to connect entrepreneurs with resources such as investors or financing, attorneys, marketing and more. The site will soon expand to include a social media platform, so members can post questions and ideas, said John Torinus, president of BizStarts.
BizStarts Venture Track - A fast-track program for high-potential companies, which will include mentoring and intensive coaching.
BizStarts Learn - An educational outreach program, where entrepreneurs will speak with K-12 and college students about starting companies.
BizStarts Buzz - A program that will celebrate funding deals, new business startups and successful exits.
“It’s not easy to start a company, but we can make it less difficult,” Torinus said. “All of the big companies we have here (in the Milwaukee area) were started here. It’s obvious that we can and must grow our own companies.”
BizStarts has already connected with several successful entrepreneurs such as George Dalton, chief executive officer of NOVO 1, Tina Chang, CEO of Syslogic, and Randy Spaulding, owner of Spaulding Clinical Research, who will serve as mentors for new companies and leaders.
“This city ranks low in entrepreneurs and BizStarts is the first organization dedicated to that purpose,” Dalton said. “We have venture capitalists, dedicated to finding entrepreneurs to create wealth for their investors. Our job is to develop entrepreneurs for those venture capitalists.”
As an entrepreneur, Chang said BizStarts Milwaukee will meet many needs that startup companies in the region have.
“I can attest to the need for a one-stop shop for entrepreneurs,” she said. “The need to connect with each other, with the community and with investors is crucial to move forward, and BizStarts Milwaukee will give us access to everything we need. If an entity like BizStarts existed with I started Syslogic, I am confident that we would be even farther along than we are now.”

As a blog for Wisconsin entrepreneurs I could not pass up an article which equates marketing to fishing. I was “hooked” by the headline.

Advertising headlines are a lot like the elusive musky.

Fortunately – just like fishing pros use all sorts of “special tricks” to improve their musky-catching odds – copywriters use secrets of their own to consistently craft powerful, arresting headlines.

The full article can be found here:

5 Secrets To Compelling Headlines The Fish Of 10000 Casts

For all those artistic entrepreneurs make sure to check out:

Handmade Nation: The Rise of DIY, Art, Craft and Design

The movie is directed by Faythe Levine who own’s Paper Boat Boutique and Gallery in Milwaukee.