March 24, 2010: 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 once again for “The Next Great Idea,” a $25,000
business plan competition 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 Monday, May 3, 2010.
On Friday, June 4, a panel of judges will evaluate the executive
summaries and semi-finalists will be selected for round two. On
Friday, June 18, 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 Monday, Sept. 6. On Tuesday, Nov. 9, 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. Contestants
may use the services of the Small Business Development Center (SBDC)
at SUNY Oswego additional support for the business plan submission.
These services are free and confidential. Call 312-3492 to make
an appointment.
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 a free submission
to the 2011 New York’s Creative Core $200,000 Emerging Business
Competition.
Ocean Blue Technology, LLC (OBT) was the
winner of the first NGI competition in 2008. OBT is owned and operated
by Paul Grimshaw, a marine biologist, and Rick Harvell, a manufacturing
technologist. The Fulton-based company has developed the DiveBudTM
Scuba Safety Platform which is intended to be safer than its current
competitors, and has appeal in the recreational diving market. The
DiveBudTM is a floating marker with a reflective flag and LED beacon
that is tethered to the diver below. Since winning the competition,
OBT has developed a DiveBudTM self-coiling scuba reel, and has plans
for modifying the equipment for commercial diving and Homeland Security
applications. The products are manufactured in Oswego County and
sold in all major diving markets including the Great Lakes region,
Florida and California. More information is available at www.oceanbluetech.com.
The growing list of partners supporting “The
Next Great Idea” include Operation Oswego County, SUNY Oswego
Office for Business and Community Relations, Alliance Bank, Fulton
Savings Bank, National Grid, Pathfinder Bank, C&S Companies,
Steve Chirello Advertising, Caswell & Associates, City of Oswego
Community Development Office, Caraccioli & Nelson, PLLC, Oswego
County Opportunities, SBDC, and The Palladium-Times. Media sponsor
for the competition is Your News Now (YNN).
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 this year.
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.
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