November 1, 2017:
NGI makes formal announcement they will begin accepting Business Concept Proposals for phase one. The NGI committee will accept submissions through March 1, 2018. There are no limits to the number of submissions a company/individual can make, but each must include a $25 application fee.
March 1, 2018:
Concept Proposal, Cover Application and $25 application fee must be submitted
via email or postmarked by 5 p.m. Proposals must be no longer than
1,000 words. The proposals will be evaluated by a team of judges.
include the $25 application fee along with the Cover Application and
Business Concept Proposal. Make payable to Operation Oswego County
Cover Application, Business Concept Proposal and fee to:
Oswego County Foundation, Inc.
44 West Bridge Street
Oswego, NY 13126
may be sent by email to email@example.com.
Cover Application and Business Concept Proposal are emailed, they must be received by 5 p.m.
The admission fee must be postmarked by 5 p.m.
March 30, 2018:
of judges will select up to fifteen semi-finalists for phase two.
April 2, 2018:
will be notified if they are to enter the next phase. Candidates
that have been selected for phase two must complete a business plan, using a provided template.
are required to submit the full business plan by 5 p.m.
will give written feedback to all of the semi-finalists. A group of finalists
will be selected to enter phase three.
Finalists will be notified if they are selected to enter phase three. Finalists selected will have to pitch their ideas in a timed presentation format in front of the panel of judges on September 14, 2018.
must give a 20-minute oral presentation on their business plan, in person,
to the panel of judges. A luncheon and
awards ceremony announcing the winner will be held on a date TBD.
The $50,000 prize will be formally awarded after the winning finalist completes an Acceptance of Proceeds Agreement, certifying that the funds will be used for the purposes outlined in the business plan and agreeing to provide yearly financial statements to OOCF for three years starting in the year funds were received.
for Business Concept Proposals:
note: The prize money must be used to start the business in Oswego
PRIZE MONEY MAY BE TAXABLE. CONSULT YOUR TAX ADVISER.
BUSINESS CONCEPT PROPOSAL SUBMISSIONS MUST INCLUDE:
Presentation (10 Points):
Include Cover Application.
• 1,000 words or less (please note: Cover Application does
not count toward the 1,000-word limitation).
• Font: Times New Roman; Size: 12 and black ink; Margins:
1 inch on all sides; Spacing: 1½.
• Grammar and spelling will be evaluated.
Concept (20 points):
Introduce company product/service clearly and concisely.
• Describe how the concept is unique and creative (is idea
currently offered in the market?).
Opportunity (25 points): What is the nature of the
business opportunity or problem? Why is the opportunity now? What
is the potential of the opportunity?
Clearly identify the need for the product/service.
• Identify the size and potential impact of the opportunity
on Oswego County.
• Provide evidence of forces creating the opportunity now.
• Identify how to implement the concept to take full advantage
of the opportunity.
• Correctly identify the main competition, stating how this
concept will improve or replace current product/services in the
Description (25 points): How would you describe the
business to a potential investor if you had only a short elevator
ride to share together? How will your product or service be used?
What are some unique features? What existing problem(s) will be
solved with the service or product offering?
Fully explain the purpose and function of product/service.
• Discuss evidence of innovation and unique features. Fully
explain benefits of product/service.
• Demonstrate critical thinking regarding opportunity/problem
with emphasis on how business idea makes sense currently in Oswego
Market Concept(20 points):
Clearly identify the target market.
• Identify the current size of target market (provide demographics).
• Provide innovative and creative ideas for implementing and
reaching the identified market.
may use the services of the Small Business Development Center (SBDC)
at SUNY Oswego to obtain market demographics. These services are
free and confidential. Phone 315-312-3493 to make an appointment
with the SBDC.