FOR RELEASE ON WEDNESDAY, FEBRUARY 1, 2012
Contacts:
Susan Barich Mark Peterson
Barich Business Services Peterson Communications
831.582.9718 831.626.4400
Susan.Barich@BarichBiz.com mark@petersoncom.com
Organizers Launch the Third Annual Monterey Bay Regional Business Plan Competition
Support from More than 50 Regional Agencies, Organizations and Companies Spurs
Economic Growth and Innovation in the Region
Congressman Sam Farr and Elizabeth Echols, the SBA Region IX Administrator are confirmed as speakers for the final public event on May 4
Marina, Calif. – February 1, 2012 - The organizers of the Monterey Bay Regional Business Plan Competition (www.MBRCompetition.com) today announced the launch of the 2012 Competition to be held on Friday, May 4th, 2012 at the Monterey Institute of International Studies (MIIS), with Congressman Sam Farr presenting the award to the final winner.
All start-ups that can show how they will create jobs in the tri-county area are welcome to apply. The Monterey Bay Regional Business Plan Competition has the support of more than 50 business, education and government partners from the tri-county region that are united to showcase the business potential of the area; support regional start-ups; attract business and investors to the region; encourage business students to become entrepreneurs; and promote tech transfer, innovation and commercialization.
The competition begins with workshops throughout the region during February, with one-page applications due on February 27th, and culminates with a presentation event and the final event on May 4th. Prizes range from $1,000 cash for the winning student team, to $5,000 cash for the winning main-street company, to $50,000 in cash and professional services for the winning venture-play company. A main-street company is defined as one that will be a successful local or regional business creating jobs in the tri-county area, but is not scalable to return 10 times the investor’s money in three to five years.
COMPETITION TIMELINE
FEBRUARY
Workshops held across the region designed to give applicants a head start on the application process.
MONDAY, FEBRUARY 27
One-page applications are due by 5:00 p.m.
FRIDAY, MARCH 9
“Fever Pitch” mandatory event; preliminary screening of applications at California State University, Monterey Bay (CSUMB). This year all applicants will have another round of reviews during a screening event held Friday, March 9th at CSUMB. Applicants will have five minutes to present their business idea and answer questions from a panel of judges. Then, semifinalists will be chosen to move on in the competition and will be required to complete full business plans and compete in the final event on May 4th.
MONDAY, APRIL 23
Semifinalists must submit their complete business plan by 5:00 p.m.
FRIDAY, MAY 4
Forum Event – Live presentations of finalists and winners announced at the Monterey Institute of International Studies (MIIS). During the May 4th event, finalists will present to panels of angel investors, private investors, successful entrepreneurs, regional CEOs and venture capitalists from groups like the Band of Angels, DLA Piper and Wavepoint Venture Capital. Congressman Sam Farr and Elizabeth Echols, the SBA Region IX Administrator are confirmed as speakers for the final event.
Partners involved in the planning and implementation of the competition include CSUMB School of Business Professor, Dr. Brad Barbeau; Head of the GLOBE Center at the MIIS, Dr. Ernest Scalberg; Alex Kramer from the Business & Entrepreneurship Center at Cabrillo College; Monterey County Weekly Publisher, Erik Cushman; angel investors, Dr. Rock Clapper of the Band of Angels, Chuck Boggs from the Paladin Venture Development, and Damon Danielson of Pebble Beach Partners; Susan and Alan Barich from Barich Business Services; Mark Peterson of Peterson Communications; and Chris Khan of Khan-Bernier.
SUPPORTING QUOTES:
Susan Arcady Barich, Chair, The Monterey Bay Regional Business Plan Competition and Executive Director, Project 17 - Monterey Bay's Regional Ag Innovation Cluster
“The competition is about more than just winning; it is about the whole process of providing a network of support for innovation and entrepreneurship that connects our region. The competition was such a fun success over the past few years. This year we continue to have main-street and student tracks, as well as a special category for agricultural technologies.”
“We also have a more attention from service providers in the San Francisco Bay Area like DLA Piper, the largest law firm in the world, and White Summers of Redwood City, a law firm specializing in early-stage technology companies, both of which are supporting us for the second year in a row.”
“Many large technology companies, including Seagate, Plantronics, Digital Research, SCO and Borland, started here in our region. We have a history of success, and we can attract Silicon Valley start-ups to create jobs in our beautiful corner of the world.”
2011 Champion, PeopleTowels
Linda Lannon, Co-founder , PeopleTowels
“Winning the Monterey Bay Regional Business Plan Competition provided great exposure for our company, PeopleTowels; opening doors to many resources and individuals in the community. Of particular value to me were the pitch sessions to the judges and investors. All entrepreneurs love to talk about their business, but the pitch session is a hard stop at 10 minutes. As a result, you have to hone your entire business plan to a clear, concise, and convincing story that can be told in 10 minutes or less. Not as simple as it sounds, but a critical skill for all entrepreneurs.”
2011 Student Team Champion
Peter Yang, Co-founder, Weev
“There's no better opportunity to integrate the business concepts learned in school and to demonstrate communication abilities than a business plan competition. Most importantly - having respected professionals take the time to listen to your idea and give constructive feedback is a valuable experience that any entrepreneur or professional should strongly value. I sincerely enjoyed the experience I had at the Monterey Bay Regional Business Plan Competition.”
2010 Champion, The Larell One Step Denture
Dr. Lawrence Wallace, Founder, The Larell One Step Denture
“Participating in and winning the Monterey Bay Regional Business Plan Competition gave Larell Surgical a boost that propelled our company forward and continues pay dividends. As an entrepreneur, the business plan competition gives you a valuable framework to accelerate your company development with a planning process, constructive feedback and guidance from mentors, judges and other competitors. In addition to opening the doors to meet new people in the region, winning has helped launch The Larell One Step Denture nationally and internationally.”
A one-page application for the competition is due on Monday, February 27th by 5:00 p.m. and is available at www.MBRCompetition.com, along with instructions, entry forms and a participation agreement. To get updates on the competition, follow on Twitter at www.twitter.com/MBRBizPlan or like the Facebook page at www.facebook.com/MBRCompetition .
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Towel Maker A Winner
Company captures business plan title on second try
By JOHN SAMMON
Herald Correspondent
Posted: 05/14/2011 01:30:43 AM PDT
Updated: 05/14/2011 01:30:44 AM PDT
Linda Lannon has been in business for 19 months. (HERALD FILE)
A company that sells reusable hand towels took the top prize Friday at the second annual Monterey Bay Regional Business Plan Competition.
Linda Lannon, a resident of Corral de Tierra and founder of PeopleTowels, an organic reusable hand towel designed to replace paper towels, won the prize for best venture capital company. She entered the competition last year, too.
"We were too young a company then to win, but I guess that's a business lesson, that you keep trying," she said. "If you're an entrepreneur, you can't take no for an answer."
The award was announced before 100 people in Irvine Auditorium at the Monterey Institute of International Studies after representatives of start-up companies made presentations.
Sixty-two companies had competed for prizes in three categories: venture capital company, lifestyle company and student-team company. Prizes included cash and marketing and consulting help. PeopleTowels' prize was worth $13,000 in cash and another $37,000 in related services to help the company grow.
"The purpose of the business plan competition is to bring entrepreneurs out of the woodwork, and to have them meet service providers and investors," said event organizer Susan Barich.
Barich successfully promoted the idea for the business competition to local business people and service providers in 2009, with the first competition in 2010.
"The 62 applications were sent out to 25 judges and were graded, and I got the score back. Today's 18 finalists and semi-finalists were chosen according to numerical scores from the judges," Barich said.
The winners demonstrated that their business proposals represented realistic entrepreneurship, imagination, innovation and cutting-edge technology.
Lannon's company has been in business for 19 months. She said she came up with the idea with co-founder Mary Wallace when Wallace went to Japan to visit a daughter and son-in-law. Use of cloth towels in Japan is common. Lannon's product is a reusable hand towel made of the lightest organic cotton that dries very quickly.
She said she is marketing the product in local stores including Whole Fruits in Monterey and Eco Carmel. Sports franchises have also expressed an interest to cut the high cost of using paper towels at sports stadiums.
She said the product could spare trees and save customers money spent on paper towels, while sparing landfills of paper towel refuse that gives off carbon emissions.
"Mine was a self-funded start-up company," Lannon noted. "Formerly, I was vice president of marketing at McGraw Hill Co. I'd like to say that PeopleTowels will become an eco-habit, the wave of the future."
Lannon said the product is being marketed nationwide, but declined to give sales figures.
Amy Sibiga of Santa Cruz won the lifestyle award for her creation, Megan's Living Well, a company that produces gift boxes of motivational cards for people under severe stress, including chronic health problems, depression, post-traumatic stress disorder, arthritis, chronic pain and other ailments.
Sibiga said the company is named for her niece Megan, who has diabetes.
"I am the sole employee of my company, and I'm very excited to win," she said.
Adrien Herberts, Peter Yang, Joey Tai, Frankie Angai, and William Yan, who attend the University of British Columbia in Vancouver, Canada, won for the best student-run business plan.
Their new company, Weev, is a location-based social network using smart phones that allows students to maintain contact and message each other anywhere they are on campus.
"We wanted to add another layer to social networking," Herberts said. "For example, with our system, you can find out who's in a building without seeing them. Students can use Facebook and Weev to maintain access, and only the students can access it."
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