Momentum Business Plan Competition returns

Momentum Business Plan Competition returns

LUDINGTON — After a hiatus during the pandemic, the Momentum Business Pitch Competition is back, which will award $15,000 cash to a small business, plus a $10,000 suite of support services.

The application period is currently open and closes March 24, 2023. Any Mason County for-profit or non-profit venture with a viable business idea, plan or invention, or existing organization or company with less than $250,000 in sales or revenue annually, is eligible to apply.

A judges’ panel will decide who will take the grand prize at the May 25, 2023 competition. A second prize of $10,000 cash and $5,000 in support services will also be awarded. In addition, a People’s Choice Award will profit one business a $5,000 cash prize.

Launched in 2015, the Momentum Business Plan Competition awarded one business entrepreneur a prize of $50,000 to start or move an early-stage business to Mason County. Funded by Pennies from Heaven Foundation and administered by the Chamber Alliance of Mason County, the competition was open to any small Mason County business or nonprofit organization.

The competition idea was spearheaded by Pennies from Heaven Foundation founder John Wilson, who was searching for a way to foster and grow the existing entrepreneurial spirit of Mason County, where he made his business mark. Additional support is provided by the Chamber, Ludington Daily News, Ludington SCORE, Metalworks, West Shore Community College and West Shore Bank – who all share a passion for entrepreneurism and the Mason County community.

Over the years, the Momentum board has made several revisions to the competition to increase participation and benefit a greater number of businesses. Here are noteworthy contest details for 2023:

• Business plan submissions must be made by March 24 with the “Shark Tank-style” pitch night scheduled for May 25.
• The 5×5 Competition will continue to be held in August at Epworth Heights. The 2022 winner to be automatically added to the Top 10 Momentum contestants for 2023.
• This larger Momentum competition will be held only every other year, so the next contest will be held in 2025.

“We are glad to bring back this very important event in our community,” said Brandy Miller, president/CEO of the Chamber Alliance. “We have so many partners who have come together to foster entrepreneurship in Mason County, and the addition of a support services menu, this year is going to really benefit business owners with the additional reinforcement they need to be successful.”

Mason County business owners who wish to participate in the 2023 Momentum competition can find complete rule information at momentumstartup.org.