Texas Border Business
McAllen, TX – Since 2011, the McAllen Chamber of Commerce and the McAllen Economic Development Corporation have provided more than $52,000 in awards to 9 different entrepreneurs through the Business Plan Competition. The contest awards a prize of $7,500 every year to the winner. The intent for the program is to foster new business creation and expansion in McAllen. The competition is for new, independent, for-profit ventures in the seeding or start-up stages in the McAllen.
The competition is intended to simulate the real-world process of entrepreneurs soliciting start-up funds from early-stage investors and venture capital firms. The judges 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.
This year, the McAllen Chamber of Commerce and the McAllen Economic Development Corporation along with an amazing panel of judges selected Sara and Barry Franklin with their project Inserts by Contello as the 2019 McAllen Business Plan Competition winner. Inserts by Contello will use the funds to launch their new project which is a manufacturing facility and online storefront for customized foot inserts.
“There is an incredibly strong entrepreneurial spirit among the McAllen community, which is apparent in the innovative and socially-minded business ideas that are showcased through the contest,” said Jorge Sanchez, Vice President of Business Development and Start-ups.
For additional information regarding the McAllen Business Plan Competition grant award, please contact Jorge Sanchez at 956-682-2871 or at jsanchez@mcallenchamber.com.
