Something a bit different

Mike Woycheck is something of a legend in what has come to be called the Burghosphere. The administrator of the very useful Pittsburgh Bloggers website, he also works at the Pittsburgh Technology Council. He sent me (and I am sure many other bloggers) an email telling me about a competition the PTC is running, and asking me to post about it. Since it is late and a school night (so to speak), I am going to take the lazy way out and simply post what he sent me. Check out pghbloggers and the PTC websites as well for more (or at least differently laid out) information.

EnterPrize is Pittsburgh’s premier business plan competition for technology startups. This year, the Pittsburgh Technology Council hosts eight workshops and three networking events, beginning February 20 with a workshop, “Developing the Idea” taught by Chris Allison. Through three phases of competition more than $80,000 will be awarded. Participants will get plenty of feedback through a coach and comments on their plans from judges and will have many, many networking opportunities to meet potential funders, advisers and peers.

The goal of the competition is to help stimulate economic growth in southwestern Pennsylvania and support local technology entrepreneurs.

You can find more information about the competition, including a registration form for entry, via the website link below:

http://www.pghtech.org/Events/enterprize.asp

Background Information:



EnterPrize is divided into two categories - new business and existing business. What defines a "new business?"

· The team has an idea for an innovative product or service with which they intend to start a company.

· The company does not exist.

· The company is nothing more than an idea.

· They have no employees (founders are acceptable).

· No money has been raised.

· The company is not incorporated. (NOTE: If it is incorporated, its only purpose was to create a shell - the company is not conducting any business).

The company has not experienced Substantial Business Activity:

· Payment of wages or salaries

· Receipt of research grants, development contracts or other sources of revenue

· Receipt of equity or debt financing from outside the Founder's immediate family

* Founder's activities, such as research, prototype development, establishing beta sites (other than for paying customers), licensing necessary technologies, will not be considered Substantial Business Activities.

Definition of an Existing Business Category:

· The company is less than three (3) years old.

· The company has less than twenty (20) employees.

· The company has less than $1 million in annual sales.

· The company has raised less than $500,000 in capital since its inception.

The company is experiencing Substantial Business Activity:

· Payment of wages or salaries

· Receipt of research grants, development contracts or other sources of revenue

· Receipt of equity or debt financing from outside the Founder's immediate family

* Founder's activities, such as research, prototype development, establishing beta sites (other than for paying customers), licensing necessary technologies, will not be considered Substantial Business Activities.

Some of our members who have participated in EnterPrize over the years include: Vivisimo, Plextronics, Agentase, ALung Technologies, LogicLibrary, RemComm, Staffing Direct Business Solutions.