Chicago (PRWEB) October 24, 2008
This past August, City Treasurer Stephanie Neely announced Alter EatGo as the 1st place winner of the 2008 Chicago business plan competition at their annual small business expo. The competition drew a record response in 2008 with close to a hundred business plan submissions. Treasurer Neely said "This year we were pleased not only with quantity of entrants but also the quality of virtually all of the plans submitted. I have made helping Chicago small business owners a top priority of my Office, and having a solid foundation of a good business plan is a key to the success of any small business".
The business plan competition was sponsored by Harris Bank and managed by Chicago Community Ventures. It provided a great forum for Chicago's hottest new businesses to showcase their concept and compete for a $5000 first place prize. Not only does the winner receive a cash prize and free mentoring, but there is always a certain amount of notoriety that comes with being named the winner of Chicago's annual business plan competition. Previous winners have been featured in local newspapers, asked to speak at business expos and make TV and radio appearances.
Business plan competitions first started in the early 1980's. Two MBA students wanted to have a business school activity that was as challenging and prestigious as law school Moot Court competitions. Since then, the number of competitions has increased dramatically worldwide. Many local entities have funded competitions in the hope of identifying viable companies to revitalize their business community. The payoff for the winners of these contests can range from a few thousand dollars to contact with major investors who are ready to take the idea to the next level. The payoff for the investors is having an opportunity to view plans from some of the best and the brightest entrepreneurial minds. "Even if I didn't win the competition, the feedback that I received from real investors on the viability of my business plan was invaluable" says Alter EatGo's founder Chef Eric Paul. Chef Eric recommends that any new entrepreneur enter at least one competition because the benefits are numerous. He states that the critical analysis of your business plan, networking opportunities, development of a great elevator pitch and enhanced understanding of key investor criteria are worth entering the contest alone.
About Alter EatGo: In many urban communities around the country, there is a growing consumer demand for the food service industry to provide more nutritious choices because of the rising rates of obesity, strokes, and other health risks. Alter EatGo is a new diet food delivery service that provides healthy, portion controlled and calorie conscious meal options that are tailored to the cultural preferences of ethnically diverse populations and other time deprived professionals in the Chicago metropolitan area. Website http://www.altereatgo.com.