2018 Rhode Island Business Plan Competition to Launch on Sept. 14

New and Emerging Entrepreneurs Challenged to Create Growing Companies

PROVIDENCE – (Aug. 28, 2017) – The Rhode Island Business Plan Competition, New England’s leading community supported business plan competition, today announced that its 2018 competition will launch next month and culminate in May with the awarding of prizes expected to exceed $200,000 in value.

Competition Co-Chair Peggy Farrell, partner with the law firm of Hinckley Allen in Providence, said, “Starting and growing a successful company is a challenge, but many aspiring and emerging entrepreneurs find Rhode Island an attractive place to do that because of ready access to people and resources who've done it already. It's our job to help them along."

The launch event, to be held Sept. 14, will be the first of six free public events and educational workshops the Competition will host leading up to next April's application deadline. Attendees will be briefed on requirements and key dates, and last year's winners will provide an update on the progress of their business ventures.

The event will run from 5:30 to 7:00 p.m. at Tech Collective, 166 Valley St., Building 3, Providence, The public is invited, but pre-registration is required and may be completed online

For the second consecutive year, everyone who applies to the Competition will be awarded free co-working space, including access to meeting rooms, provided by Sprout at the Rising Sun Mills campus in Providence.

"The Competition exists because of the ongoing support of our sponsors, who together are helping to foster the next generation of Rhode Island entrepreneurs," said Competition Co-Chair Anthony Mangiarelli, partner with the KLR accounting firm in Providence.

Today, more than 50 former Competition participants are operating, employing more than 500 people and purchasing materials, supplies, and services from Rhode Island companies.

The next event sponsored by the Competition will be the annual Rhode Island Elevator Pitch Contest on Nov. 1.

Sponsors of the 2018 Competition

Lead sponsors of the 2018 Competition are the Everhope Foundation, Hinckley Allen, KLR, MedMates, Integrated Media Group, Materials Science Associates, and Sprout.

Also supporting the 2018 Competition are Barlow, Josephs & Holmes and the Greater Providence Chamber of Commerce, along with Bank of America, Betaspring, Center for Women and Enterprise, Envision Technology Advisors, GrowthLab Financial, the Hatch Entrepreneurial Center, Roger Williams University, Social Enterprise Greenhouse, and Tech Collective.

Additional sponsors include Bank Rhode Island, BankNewport, Beacon Mutual Insurance Company, Business Development Company, Cherrystone Angel Group, Classic Hassocks, Delta Dental of Rhode Island, Dimeo Construction Company, The Moore Company, Newport Biodiesel, Richard Carriere, StormTree, and The Washington Trust Company.

About the Competition

Established in 2000, the Rhode Island Business Plan Competition has been recognized as one of the top 40 business plan competitions in the country. To date, it has awarded more than $2.3 million in prizes to developing companies across many industries. 

The Competition is free and open to everyone age 18 or over whether or not they already have started a business. Complete information, including rules, application procedures, guidelines, and business plan resources, is available at www.ri-bizplan.com