News

Entrepreneurs can enter the Southern Illinois 2024 Business Plan Competition with a comprehensive business plan and a compelling 90-second pitch for a chance to win a portion of more than $20,000 cash and in-kind services to propel their businesses forward, thanks to Regions Bank, Southern Illinois University Carbondale, and other regional sponsors.

Organized by the Office of Innovation and Economic Development, the Illinois Small Business Development Center at SIU and the SIU Foundation, the competition is open to Southern Illinois entrepreneurs with a new business concept or pre-venture plan and to start-up or existing for-profit small businesses focused on innovative ideas, products or services. Contestants must be located in one or more of these counties: Alexander, Clay, Crawford, Edwards, Franklin, Gallatin, Hamilton, Hardin, Jackson, Jasper, Jefferson, Johnson, Lawrence, Marion, Massac, Perry, Pope, Pulaski, Randolph, Richland, Saline, Union, Wabash, Wayne, White or Williamson.

Applications will be accepted through Sept. 25. Contestants are required to attend three workshops on business plans, financials and pitching next month. Competition rounds will start in November. A panel of judges will evaluate entries based on each plan’s content and viability as well as the pitch presentation.

Award winners will be announced at the Innovation and Entrepreneurship Showcase at 4:30 p.m. Dec. 5 at SIU’s Dunn-Richmond Economic Development Center, 1740 Innovation Drive. Consult the Business Plan Competition webpage for complete details.

(Please note that the competition is not open to businesses with cannabis, gambling or lobbying activities. The competition is also closed to public governmental entities, nonprofit organizations, public or private schools, and higher education institutions.)

In addition to Regions Bank, competition sponsors include the Illinois SBDC at SIU, SIU Carbondale Innovation and Economic Development, SIU Foundation, SI Now, First Southern Bank, Chuck Schmucker Country Financial, Melzer-Reinhart Insurance and Financial Group, Legence Bank, Legal Advocacy Headquarters, Arthur Agency, EThOs at the Citadel, Brand Advocacy Group, Inc., Jefferson County Development Corporation, E. Claire Beauty and Wellness, and the Illinois SBDC at IECC.

Link to application: https://sbdc.siu.edu/workshops/business-plan-competition.php