Iowans who’ve considered starting a small business might find now is a good time to begin the adventure. The John Pappajohn Iowa Business Plan Competition for start-ups is offering 50-thousand dollars in prize money. Participants can turn in their applications soon. Entrepreneur John Pappajohn says you don’t have to win money through the contest to come out ahead.
Pappajohn says competition creates more entrepreneurial activity which he says Iowa needs — along with more start-ups. Finalists will present their plan at the 2006 Venture Capital and Entrepreneur Conference at the Polk County Convention Complex in Des Moines in October. Pappajohn says the awards will be made at that time.
He says it’s an effort to awaken a giant, and he says it’s chance to put on your thinking hat and decide if you really want to make your small business dream into a reality while trying out for a cash award.
Pappajohn says the competition is focused on a business plan since many entrepreneurs don’t know how to create a good one. He says the entrepreneur centers at U-N-I, Iowa State, Iowa, Drake and in Mason City will help contestants put together a professional business plan that builds confidence in the hopeful business owners. An event designed to raise awareness about entrepreneurship is set for Wednesday in Maucker Union at U-N-I from 3 to 5 P.M.