ANN ARBOR ? Great Lakes Entrepreneur’s Quest, a business-plan writing contest, has never had a cycle as successful as the one underway. Some 111 teams signed up to win cash prizes and more importantly lean how to write a plan that will attract potential investors ? some 32 teams more than in the spring cycle.
“One hundred eleven is a pretty incredible,” said GLEQ Executive Director Diane Durance. “We had 79 in the previous cycle and just 47 teams a year ago.”
Southeast Michigan was heavily represented in the contest, lead by teams from the greater Ann Arbor area with 49 teams. Suburban Detroit came in second with 38, followed by Mid Michigan with 10, City of Detroit and West Michigan with five each, the Upper Peninsula with three and Northern Michigan with one.
By categories, IT/Software and Web applications had 36 entries, Alternative Energy 18, Life Sciences 17, Services 13, New Products, 11, Education/Entertainment/Publishing nine and Advanced Manufacturing seven.
“We had more alternative energy than before,” Durance said. “Life sciences is a little lower than usual. Education, entertainment and publishing is a new sector. It would include all IT-based things, like entertainment, video production and games. The Film incentive could create video-game Mecca in Michigan.”
Teams have until midnight Dec. 5 to post their executive summaries on the GLEQ web site at GLEQ.Org
Three awards for each category ? New Business Idea and Emerging Company ? will be announced Jan. 22 at the ACE awards in Ann Arbor.
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