March 25, 2008-- Community Partners Help “Next Great Idea” Take Root in Oswego County
By L. Michael Treadwell, CEcD, Executive Director, Operation Oswego County

Do you have a great idea for a business but are lacking the capital to get started?
Business and community leaders have come together to launch a $25,000 business plan competition, called, “The Next Great Idea,” that encourages entrepreneurs to commit to new and innovative business development in Oswego County.

The timetable calls for eligible teams to submit an executive summary of their idea by May 1, 2008. On June 1, a team of judges will evaluate the executive summaries and up to 10-15 semi-finalists will be selected for round two. On June 16, semi-finalists will be notified that they have qualified for the next round. These semi-finalists are required to submit a business plan that follows competition requirements by Sept. 1, 2008. On November 10, the finalists must give a 20-minute presentation on their business plan in-person to the panel of judges. Following the presentation, a luncheon and awards ceremony announcing the winner will be held at the American Foundry in Oswego.

The $25,000 prize must be used to start or expand a business in Oswego County.

The competition is not only an opportunity to win seed money to start your business, but it's also a chance to get professional guidance and feedback on your business plan to help move it from an innovative idea to a reality. The SUNY Oswego’s Office for Business and Community Relations will offer semi-finalists a free optional workshop June 30 to provide additional support for the business plan submission.

In addition, the $25,000 can potentially be leveraged to borrow up to $250,000 in partnership with local banks, the County of Oswego Industrial Development Agency, the cities of Oswego and Fulton community development offices, the U.S. Small Business Administration, and other economic development agencies.
The winner will also receive two free submissions to the New York’s Creative Core $100,000, 2009 Emerging Business Competition.

The growing list of partners supporting “The Next Great Idea” include Operation Oswego County, SUNY Oswego Office for Business and Community Relations, Greater Oswego-Fulton Chamber of Commerce, C&S Companies, Chirello Advertising, Caswell & Associates, Alliance Bank, PathFinder Bank, City of Oswego Community Development Office, and Caraccioli & Nelson, PLLC. Media sponsor for the competition is News 10 Now.
Oswego County offers a wealth of resources and opportunities for businesses to start and flourish here. We are all extremely excited to see what great ideas competition participants generate.

More information including entry forms, competition guidelines and sponsorship opportunities are available at www.oswegocounty.org/bizcomp.htm.

Operation Oswego County is a private, non-profit organization that works to enhance and protect the business climate of Oswego County. Our primary objectives are to help create new job opportunities, retain employment, build a broader real property tax base, diversify the economy and improve the area’s quality of life.

For more information about economic development services in Oswego County, call OOC at 343-1545 or visit our website at www.oswegocounty.org.

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