SmartSTART Business Plan Competition
Funding Amount
Up to $15,000
Deadline
Rolling / Open
Grant Type
foundation
Overview
SmartSTART Business Plan Competition
Funder: Martinsville-Henry County Economic Development Corporation (EDC)
Geographic Scope: City of Martinsville and Henry County, Virginia
Purpose: Award grants to small business owners who have graduated from the SmartSTART or FastTrac business planning program.
- Must be a graduate of the 8-week SmartSTART or FastTrac program offered by the EDC
- Business owners at any stage (startup or established)
- For-profit businesses
Eligibility
- Equipment purchases
- Technology investments
- Inventory expansion
- Kitchen equipment
- Employee training
- Computer purchases
- Product line development
What They Fund
- Total Amount: $15,000 total distributed among winners (2017 data)
- Individual Awards: Vary by business need
- Recipients: 7 businesses awarded in 2017 competition
Award Details
- The SmartSTART program has been running for 10+ years (as of 2017)
- 147 total graduates since program inception
- Each 8-week session covers business planning fundamentals
- Participants receive feedback from coaches and business professionals
- Program explores: executive summaries, marketing plans, competitive analyses, cash flow projections
Background
- Address: 191 Fayette St., Third Floor, PO Box 631, Martinsville, Virginia 24114
- Phone: (276) 403-5940
- Website: yesmartinsville.com
Contact Information
Martinsville-Henry County Economic Development CorporationHow to Apply
Application Process
1. Enroll in SmartSTART Program
- Complete 8-week business planning certification program
- Attend weekly sessions on business planning topics
- Work with business coaches and professionals
2. Develop Business Plan
- Create executive summary
- Develop marketing plan
- Conduct competitive analysis
- Project cash flow
- Receive feedback from coaches and classmates
3. Enter Competition
- Open to all SmartSTART or FastTrac graduates
- Submit completed business plan
- Present business plan summary to judges
4. Selection
- Plans evaluated on viability and impact potential
- Awards allocated based on business needs
- Winners announced following presentations
- Completed business plan with all required sections
- Executive summary
- Marketing plan
- Competitive analysis
- Cash flow projections
- Presentation at final program session
Required Materials
Focus Areas & Funding Uses
Fields of Work
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