News

Calling all Entrepreneurs: Best Business Idea Competition

November 17, 2009
Category: Community Outreach


The Southern Utah University Small Business Development Center (SBDC) is calling all entrepreneurs to submit their business idea into the fourth annual Best Business Idea Competition over the next month. Through the competition, entrants will receive professional feedback on their business ideas, as each budding entrepreneur vies for a $3,000 grand prize to help fund the development of the winning idea. 

The Best Business Idea Competition is open to all SUU students as well as to all interested residents of Iron, Beaver and Garfield counties. 

The main objective of the Best Business Idea program is to integrate community resources with the talent of local entrepreneurs and increase the number and success of small companies in the tri-county region. 

To this end, cash prizes will be awarded for the top three ideas in the amounts of $3,000, $1,000 and $500, respectively. The award is to encourage the development of the winning ideas into viable local businesses. 

To compete, registrants must complete an official entry form and compile an executive summary detailing their business concept. Entries are due by 5 p.m. on Friday, December 4, at the SUU Business Resource Center on 77 North Main Street in Cedar City. An official entry form and more information are available at www.suu.edu/business/sbdc. 

Once the contest closes, a panel of judges consisting of successful entrepreneurs, business leaders and SUU School of Business faculty and staff will evaluate all the entries. Those entrants with the most promising ideas will then be asked to present an "elevator pitch" to the judging panel. From those presentations, a winner will be selected. 

Those interested in submitting their ideas for consideration may visit the SBDC for guidance and advice. The SBDC will also hold two trainings at the Business Resource Center on Main Street on Thursday, November 19 from 5-6 p.m. and Tuesday, December 1, from 3-4 p.m.

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