The Towson University Incubator’s annual Business Plan Competition will soon be open for participation. The annual competition encourages entrepreneurship, small business growth, and innovation and provides valuable feedback on business ideas. As always, entrepreneurs and startups in the Baltimore-Washington region are encouraged to apply for a chance to win, among other prizes, resident membership at TU Incubator, Towson University’s edtech-focused business incubator. Returning is the ‘student-only’ category, which debuted last year with great success, in addition to the ‘professional’ category. With more than 40 executive summaries submitted in round one of last year’s competition, we can’t wait to see what 2016 has in store.
2016 Business Plan Competition Timeline
The 2016 Business Plan Competition timeline is outlined below:
- Monday, February 8, 2016:
2016 BPC Q&A Session
- Monday, February 22, 2016:
Executive Summaries Due
- Monday, March 21, 2016:
Presentation Boot Camp (finalists only)
- Monday, April 18, 2016:
Full Business Plan and PowerPoint Presentation Due
- Wednesday, May 4, 2016:
Public Finale and Power Networking Reception
Business Plan Competition Successes
You may be wondering what happens after the competition ends and winners are selected. Here’s a glimpse at what some of our previous winners have accomplished since winning the competition and joining the incubator.
- 2015 BPC student category winner, ShapeU, has raised over $150,000 and is in the process of building a new board to include some of the largest influencers in Baltimore’s media and fitness spaces, hiring its 10th employee, and finalizing deals to launch at Brick Bodies within the next month. The team is also beginning the next phase of development for a dedicated iOS mobile app.
- During the inaugural 2011 BPC, the tied first place winner, Pure Bang Games, was pre-revenue and in the midst of a seed round. After winning the competition, the company successfully raised $250,000 from approximately half a dozen investors and has doubled its revenue year over year. Pure Bang Games is cross platform with games played by more than 6 million people worldwide. One of its games, Blitzcrank’s Poro Roundup, developed for a client, received approximately 50,000 reviews with an average rating of 5 stars on iTunes app store. Pure Bang Games graduated from TU Incubator in 2014, and CEO, Ben Walsh, now shares his expertise as a member of TU Incubator’s Mentor Network.
Be on the lookout in the coming weeks for the official launch of the 2016 Business Plan Competition! Stay tuned and learn more about the Business Plan Competition here.