Texas Border Business
The McAllen Chamber of Commerce and the McAllen Economic Development Corporation join forces to foster new business creation with a $7,500 award to a great business plan at The McAllen Business Plan Competition. The competition is for new, independent, for-profit ventures in the seeding or start-up stages in the McAllen area. All ventures must demonstrate market feasibility and the ability to obtain financing from customary lenders.
The competition is intended to simulate the real-world process of entrepreneurs soliciting start-up funds from early-stage investors and venture capital firms. A panel of judges will function as venture capital investors deciding on which business venture they would most likely fund. The quality of the idea, the strength of the management team, and the clarity and persuasiveness of the written plan and oral presentation, all influence the judges’ decisions. Ultimately, the winning team should be the team in which the judges would most likely invest money.
The competition is divided into two phases. The first phase is based on a twenty-page business plan which the judges will evaluate and select a few for the next round, and the second phase is based on a 10-minute oral presentation. Application guidelines for The 2019 McAllen Business Plan Competition are currently available at the McAllen Chamber of Commerce building located at 1200 Ash Ave McAllen, Texas or online at mcallen.org/business-community/innovation/. The application deadline is May 24, 2019, at 4:30 pm.
For additional information regarding the McAllen Business Plan Competition grant awards, please contact Jorge Sanchez at 956-682-2871 or jsanchez@mcallenchamber.com.
